1.7.19 Atlanta School Board Approves IGA with the City of Atlanta on Tax Allocation Districts

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FOR IMMEDIATE RELEASE                                                     

January 7, 2019


Atlanta School Board Approves IGA with the City of Atlanta on Tax Allocation Districts

The Atlanta Board of Education today approved an intergovernmental agreement (IGA) with the City of Atlanta and a resolution related to the Westside Tax Allocation District that would create the most comprehensive reform of Tax Allocation Districts (TADs) in the decades-long history Atlanta Public Schools (APS) has been involved in them. Upon ratification and acceptance of the resolution and IGA by the City and APS, APS’ intervention in the bond validation proceedings in the Gulch would be withdrawn from the courts.

The IGA also would reduce APS’ exposure in the Gulch from $1.56 billion to $1.38 billion, distributes the impact of the APS increment more evenly over the lives of the TADs, limits exposure of the APS tax digest to be no more than 10% of collectable digest in any given year (based on current assumptions) and relieves immediate pressure on the APS budget. The agreement also provides a net gain of between $130 million and $180 million to APS over the life of the TADs. 

“I want to thank members of the Atlanta Board of Education for their unanimous vote in passing today’s IGA and resolution with the City of Atlanta, providing APS with a more predictable, manageable and sustainable way of contributing to and supporting economic development in the City, while balancing the interests of our 52,000 students, 6,000 employees and 158,000 taxpayers,” said APS Superintendent Dr. Meria Carstarphen.  “In addition, this agreement caps our financial contributions in future TADs and sparks economic development in four TADs on the Southside, where so many of our students and employees live,” she added. 

“I want to thank everyone who has worked tirelessly on this issue for over a year, both at APS and at the City of Atlanta, for helping us get to this point. I especially want to thank our legal team and our Chief Financial Officer, Lisa Bracken. Today’s important step could not have happened without the leadership of Mayor Keisha Lance Bottoms and the City’s legal team on this issue for their commitment to working with us and reaching an agreement,” Carstarphen said. 

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About Atlanta Public Schools

Atlanta Public Schools is one of the largest school districts in the state of Georgia, serving approximately 52,000 students across 89 schools. The district is organized into nine K-12 clusters with 61 neighborhood schools, five partner schools, 18 charter schools, two citywide single-gender academies, three alternative schools and four alternative programs. For more information, visit www.atlantapublicschools.us, follow us on Facebook at https://www.facebook.com/AtlantaPublicSchools/ and on Twitter @apsupdate.