A recent scandal and leadership changes have produced an almost unprecedented decision by the Development Authority of Fulton County.
"The Development Authority of Fulton County (DAFC) on Tuesday shot down a proposed tax break for luxury housing along the Atlanta Beltline and voted to overhaul the governance of its board," reports J. Scott Trubey. According to Trubey, DAFC's rejection of a $4.5 million subsidy for Fairfield Residential "reflects a changing of the guard for the controversial agency," because DAFC has been "long criticized as a rubberstamp that grants lucrative tax breaks for projects in well-off parts of the county."
"Earlier this month, an AJC analysis showed DAFC gave preliminary or final approval to more than $328 million in tax breaks since the beginning of 2018, with the overwhelming majority going to projects in hot markets like Buckhead, Midtown and the length of the Beltline loop," writes Trubey.
Following a 4-4 deadlock on the Fairfield Residential tax break, the DAFC also voted to overhaul the governance of its board. All of this follows a series of investigative reports by the Atlanta Journal-Constitution revealing "a culture of loose financial oversight at DAFC under the leadership of former chairman Bob Shaw."
"Shaw resigned from the board and in recent months four new members have joined," adds Trubey.
More details on the Fairfield Residential project, which had been previously granted preliminary approval for its tax break, and the recent changes of the DAFC board can be found in the source article below.
FULL STORY: Fulton development authority quashes incentive for Beltline project
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