As of Wednesday, November 6, 2013
© Copyright 2014
Gwinnett Daily Post
A Peachtree Corners welcome sign greets motorists entering the Paul Duke Parkway. (File Photo)
PEACHTREE CORNERS — Voters in Peachtree Corners overwhelmingly approved the new city’s use of tax allocation districts, or TADs.
Yes votes accounted for almost 65 percent of the 2,475 votes cast in Tuesday’s election. The decision means Peachtree Corners officials will have the opportunity to use TADs to help fund select infrastructure improvements.
Mayor Mike Mason said Tuesday’s unofficial result was a “real vote of confidence” from the city’s residents.
“We’re still in our starting period and for them to show that confidence in us is humbling and I’m grateful,” he said. “It bodes well for the future of our city.”
TADs allow governments to borrow funding based on the tax revenue increase expected when the redevelopment involved improves property values. They can be used for projects like greenspace, road improvements or sewage lines. They do not increase taxes.
Mason said city officials have already begun looking at possible projects, mainly ones cooperative with county and state officials.