REDEVELOPMENT PLAN BARTOW COUNTY, GEORGIA TAX ALLOCATION DISTRICT #3: HIGHWAY 411 CORRIDOR NOVEMBER 2024 Prepared for: Bartow County, Georgia Prepared by: (KB) KB ADVISORY GROUP Bartow County Tax Allocation District #3 Highway 411 Corridor Table of Contents Executive Summary. Redevelopment Plan. Introduction.. Geographic Boundaries oft the Proposed Redevelopment Area (A). Grounds for Exercise of Redevelopment Powers (B). Proposed Land Uses after Redevelopment (C). Proposed Redevelopment Projects and Method of Financing (D). Contractual Relationships (E). Relocation Plans (F). 19 20 Conformance with Local Comprehensive Plans, Zoning & Land Use Codes (G). Estimated Redevelopment Costs/Method of Financing (H). Proposed Redevelopment Costs (Uses of TAD Proceeds), Assessed Valuation for TAD (1). Historic Property within Boundaries OfTAD (). Creation & Termination Dates for TAD (K). TAD Boundaries Existing Uses of Real Property (L) Tax Allocation Increment Base (M). Tax Allocation Bond Issues (0,P,Q). School System Impact Analysis (R). Benefits ofl TAD #3: Highway 411 Corridor (S). Appendix A. List of Tax Parcel ID Numbers (Properties within the TAD). Appendix B. Bartow County Administration. Appendix C. Bartow County 2024 Board of Education. 27 30 31 32 32 32 33 34 35 36 40 41 42 43 Ad) Valorem Property Taxes for Computing Tax Allocation Increments (N) Headings followed bya a letteri inp parenthesis [e.g. (A)) denote information required per Georgia Code Chapter 36, Title 44. Executive Summary Bartow County Tax Allocation District #3 Highway 411 Corridor EXECUTIVE SUMMARY Overview This Redevelopment Plan presents the rationale, boundaries, fiscal data, and proposed projects that could result from thet formation of Bartow County Tax Allocation District #3. This plan was prepared in conformance with the provisions of Georgia Redevelopment Powers Law (O.C.G.A.Title: 36 Chapter 44) that governs the creation of the Tax Allocation Districts (TADs) ini the: state. This plan was prepared by The purpose of TAD #3 is to support development along the Highway 411 corridor in the northeast portion of Bartow County. This corridor sits north oft the City of Cartersville and east of White, GA: and The TAD will enable developers of the properties within its boundaries to overcome deficient infrastructure in this strategic corridor of Bartow County and significant on-site preparation costs to facilitate new employment and housing. These costs and other impediments have made The purpose oft this Redevelopment Plan is to outline a strategy to leverage tax increments from the redevelopment of properties within TAD #3 to both offset high site development costs and make development economically feasible, thereby adding significantly to the tax digest of Bartow County when the developments are completed. By leveraging the County'sr redevelopment powers, thei intent of this plan is to spur the development of new employment and housing, achieve a higher quality of development and, as ar result, increase ini the county's tax digest ina a much shorter timeline than would Unless otherwise noted, all dollar amounts referenced within this Redevelopment Plan are in present 2024 dollars and are not adjusted for future inflation or cost/revenue escalations over time. KB/ Advisory Group in cooperation with Bartow County. Highway 411. redevelopment of the Highway 411 corridor economically unfeasible to date. bet feasible absent the creation of TAD #3. Executive Summary Bartow County" Tax Allocation District #3 Highway 411 Corridor Bartow County TAD #3: Highway 411 Corridor The map above presents the TAD #3 area of operation. Details on the specific parcels within this boundary are included int the Appendix of this plan. Highway 411 Corridor Qualifies as a TAD Bartow County has the authority to exercise all redevelopment and other powers permitted under the provisions of Article IX, Section II, Paragraph VII of the Georgia Constitution of 1983 as amended and as authorized, or granted, counties pursuant to the Redevelopment Powers Law (Chapter 44 of Title 36 of the O.C.G.A.), and pursuant to Local Act 282 (H.B. 727, Ga. Laws 2018), as approved by Bartow County voters by referendum on May 22, 2018. The redevelopment area, and TAD #3 parcels, meet the statutory definition of a Redevelopment Area under three specific provisions of the Redevelopment Powers Law: C.An "area with inadequate infrastructure" means an area characterized by: iL Deteriorating or inadequate parking, roadways, bridges, pedestrian access, or public transportation or transit facilities incapable of handling the volume of traffic into or through the area, either at present orj following redevelopment; or ii. Deteriorating or inadequate utility infrastructure either at present orj following redevelopment. Executive Summary 3 Bartow County Tax Allocation District #3 Highway 411 Corridor Aj justification under each of these provisions appears in thet following full report. However, the main justification for creation of the TAD is the need to overcome conditions that have hampered the redevelopment ini the area due toal lack of infrastructure and environmental. and: site conditions. Proposed Redevelopment Projects Tax Allocation District #3 is intended to support real estate development along the Highway 411 corridor in northeast Bartow County. New land uses to be developed are planned toi include: new manufacturing and data centers, supply-chain logistics and distribution, retail and professional services employment, avariety off for-sale and rental housing product lines, and recreational areas One large-scale proposed development within Bartow County TAD #3 consists of multiple real estate classes that are: adjacent tot the City of White, GA, along the Highway 411 and Stamp Creek areas. The plan includes approximately 9.5 million square feet of industrial uses in two maluta/Mamufacunmpas Center tracts which collectively span 1,079 acres, In addition to the employment centers, this proposed development also incorporates a mixed-use village which will include 40 acres dedicated to professional service office space and 106 acres dedicated to retail uses. The residential portion of the mixed-usev village includes 2,817 units over 497 acreswihapro.imatel)y half of the units planned for rental products with the balance for-sale products. They consist of apartments, single family homes, townhomes; and cottage homes. Executive Summary Bartow County" Tax Allocation District #3 Highway 411 Corridor Residential Rental Product Development Plan: Aubrey Site development Units Acreage 999 360 422 326 710 2,817 Mixed Use Tract- Apartments Mixed Use Tract- Townhomes For-Sale Product Mixed Use Tract- Townhome Mixed Use Tract- Cottage Homes Mixed Use Tract- Single Family Homes Subtotal: Residential Commercial Industrial South Tract North Tract Mixed Use Tract Retail Mixed Use Tract Subtotal: Commercial 50 45 53 65 284 497 582 497 40 106 1,225 Professional & Retail Services /Office Total Planned Development: Residential Units and Total Acreage 2,817 1,722 Potential TAD Revenues and Bonding Capacity The vast majority oft the cost of developing the Aubrey Site development will be privately financed and paid for through land sales and profits from building construction. However, existing values for developed commercial and residential sites in the Bartow market are not sufficient to cover extraordinary" cost items that are needed to maelemssayuafeundtsimpowemens and to upgrade and extend utility infrastructure within the TAD #3 boundary to serve the anticipated development. Executive Summary Bartow County Tax Allocation District #3 Highway 411 Corridor TAD Potential of Tax Allocation District #3 The following section estimates potential revenues from one future development project in TAD#3, assuming that both Bartow County and Bartow County School District pledge their respective M&O millage to the redevelopment effort. As other properties within TAD #3 are developed, the revenues estimated below will increase. A few parcels are located within the corporate limits of the City of As shown below, the properties in the TAD have a current assessed/taxable value of $6.6 million. The largest portion of the TAD is in parcel 0102-0184-001-3, which covers 13,814 acres and has ai taxable value of $2.1 million. Ont the whole, the: site is composed of 15,697 acres, appraised market value of White, but the City of White is not committing any oft their millage into the TAD. $16.4 million, and combined assessed values of $6.6r million. Proposed Properties tol be Included in Bartow CountyTAD#3 Parcel ID 0102-0184-001-2 0090-0277-003 0090-0313-001 0089-0313-001 0089-0313-002 0090-0277-001 0089-0299-008 0090-0300-001 0090-0277-004 0102-0184-001-3 W002-0005-001 W004-0001-004 W004-0001-003 W004-0002-007 W004-0002-003 W004-0002-002 W004-0002-008 W004-0002-009 0089C-0004-001 W004-0002-001 0102-0215-001 W004-0006-004 W004-0006-005 0090-0274-001 0090-0274-002 0090-0303-001 W004-0004-055 W004-0004-053 W004-0004-052 Acreage Appraised: $* Assessed$ 1,443.91 $3,444,729 $1,377,892 1.01 2.00 4.00 1.39 4.00 1.00 0.13 0.00 2.14 1.69 1.99 1.30 2.77 0.49 0.69 0.91 1.09 13.19 37.88 1.13 0.20 27.00 29.00 0.59 1.05 7.50 $259,526 $103,810 $225,630 $90,252 $94,728 $37,891 $336,918 $134,767 $305,321 $122,128 $245,696 $98,278 $8,750 $35,000 $14,000 $217,700 $87,080 $107,860 $43,144 $286,502 $114,601 $150,000 $60,000 $426,910 $170,764 $14,000 $20,000 $192,038 $76,815 $385,840 $154,336 $15,896 $203,953 $81,581 $323,133 $129,253 $115,524 $46,210 $75,900 $30,360 $71,195 $28,478 $142,128 $56,851 $402,621 $161,048 $254,571 $101,828 $3,500 13,814.48 $5,132,300 $2,052,920 $5,600 $8,000 $6,358 276.33 $1,823,410 $729,364 Executive Summary Bartow County Tax Allocation District #3 Highway 411 Corridor W004-0002-006 W004-0003-016 W004-0003-003 W004-0003-004 W004-0003-005 W004-0003-006 0089-0299-003 0089-0278-001 6.50 0.98 2,23 1.38 3.24 2.16 1.04 0.49 $107,325 $42,930 $210,000 $84,000 $51,409 $20,564 $106,726 $42,690 $62,212 $24,885 $43,427 $17,371 $202,130 $80,852 $304,589 $121,836 Totall TAD# #3 Values 15,696.88 $16,405,597 $6,562,237 *The taxoble appraised value, referred to as the Fair Market Value (FMV), Is based on morket value determined by the respective county's tax assessor and may note equal the property's recent sale price ord current market value from an Source: Bartow Tax Assessor, KB Advisory Group investment perspective The projected tax appraised value of the new development from the Aubrey Site development alone, based on a multi-year development build-out, is $2.6 billion. With the estimated taxable value upon completion of this new investment in the TAD of $1.0 billion, the total incremental taxable value of this one development within the TAD at build-out and its corresponding parcels is projected to be Based on this growth in the market value and in thet taxi increment from the Aubrey Site development in TAD #3, the amount of TAD bond financing that could be supported was estimated. For analysis purposes this example assumes that Bartow County issues tax exempt bonds, each for 27 years following a capitalized interest period, based on thei incremental property taxes that are paidi into the Special Fund eachy year and that the TADI bonds would be issued as new propertyvaluel is being created on the development site. This is only one example of the potential TAD bond approach that may be used by the County to support the development of infrastructure at the development and is included $971.8million.. here fori illustrative purposes. Estimated TAD Bond Potential Tax Increment at Build Out Bondable Property Tax Semi Annual Bond Payment TAD Bond. Amount (27 year @ 6.0%) Capitalized Interest in 36 Months Debt Reserve at 11% Issuance Cost at 3% Net TAD Proceeds Full Build-Out $23,711,407 $16,000,000 $8,000,000 $212,621,284 $15,308,732 $23,388,341 $6,378,639 $167,545,572 Executive Summary Bartow County Tax Allocation District #3 Highway 411 Corridor Utilizing the Aubrey Site preliminary development program for illustrative purposes, the estimated amount of proceeds this revenue stream could leverage was determined usingt thet following financing assumptions: Example: Aubrey Site Tax-Exempt Bond Financing-The initial TAD bond is assumed to be issued in order to provide funding that may be needed to support site preparation, road and infrastructure extensions, andi internal circulation. This bond is assumed to have a 27-year term following a capitalized interest period, a 120% debt coverage ratio and a 6% interest rate. Calculations assume that the first year of interest payments and a one-year debt service reserve would be capitalized into the bond. A 3.0% issuance cost to cover any loan fees and potential reimbursements the County may wish to recover was also assumed. As the development proceeds, the County would be able to issue additional TAD debt secured by the completion of the previous development: and the planned development that would occuri in roughly in a ten-year period. Overa al likely series of financings, an estimated total of $212.6 million inl TAD bond debt could be issued and the total potential proceeds available to fund new infrastructure improvements could be $167.61 million at build-out. Redevelopment Costs Proposed Uses of TAD Proceeds Priorities for the use of TAD proceeds would evolve as project planning for major developments within TAD #3 continues, more detailed site development budgets are prepared, and actual costs for infrastructure become better known. The intenti is to employ' TAD proceeds as available and necessary to make the intended developments financially feasible and to attract the types of end-users that would positively impact the TAD #3 redevelopment area and broader Bartow County. The potential uses of TAD proceeds under the Redevelopment Powers Law are quite broad and may include (a) supporting site development including building açcess roads, site preparation, demolition, utility improvements, etc. (b) access enhancements and signalization at the main entrances to the property, and (c) funding green space, transportation improvements, utilities, public parking structurès, etc, Specific uses for TAD proceeds associated with the Aubrey Site development, for example, are described below. TAD #3 Proceed Uses: Aubrey Site Example Potential Uses OfTAD #3 Proceeds Potential TADI Expenditure 1. Major Collector Roads incl. Utility Mains 2. Minor Collector Roads incl. Utility Mains 3.0 Utility Extensions and Facilities 4. Intersection Improvements 5. Public Parks, Trails & Recreation Total TAD Funding Estimated Allocation Potential TAD Funds $60,880,000 $56,720,000 $16,900,000 $10,160,000 $11,204,000 $155,864,000 39.1% 36.4% 10.8% 6.5% 7.2% 100.0% Executive Summary Bartow County" Tax Allocation District #3 Highway 411 Corridor School District Impacts Although the full development program for all of the properties in TAD #3 is presently unknown, the estimated economic impacts to Bartow County Schools from participating in TAD #3 based on the 1, The planned Aubrey Site development will add a total of approximately 802 new public- school children to Bartow County Schools over the course oft the project's build-out. Local students generated by this development will add an estimated $6.51 million in annual locally based education expenses to Bartow County Schools at full build-out (approx. 2. There is a site in the center of the mixed-use village which would be donated to Bartow County Schools to accommodate the completion of a new elementary school. This school would be eligible to receive TAD-based funding for capital projects, including recreational fields that could be shared with the Bartow County Parks and Recreation Department, 3. The current amount of property taxes generated from within the entire TAD, approximately $114,000, will continue to flow to the school system-only: taxes associated with incremental real estate digest growth above the base amount are pledged tot the TAD at build-out. Personal property tax revenues from the development will add $7.1 million annually in school taxes, and additional retail sales figures would add $2.4 million annually in ESPLOST revenue. Furthermore, assumingt thatt the new on-sitel households mirrorcurrent countywide household retail spending patterns and that 80% oft their retail spending remains in Bartow County, these households would also be generating an additional: $1.3 million in annual ESPLOSTI revenues. 4. Ont top of the $10.9 million in annual public revenues from the development's personal property and retail: sales tax Bartow) County Schools would begin receiving at build-out, the School District is estimated to begin receiving at least $33.4 million in additional revenues from real property taxes upon the TAD's sunset (assuming no debt obligations Thus, the potential gains to Bartow County Schools from participating in the TAD will be substantially net positive from a financial perspective due to the future growth in its tax digest and ESPLOST Aubrey Site development program are as follows: 2037). after 27 years). revenues, with moderate short-term impacts on the demand for school services. Benefits of TAD #3: Highway 411 Corridor Inc conclusion, the creation of TAD #3, which includes the proposed Aubrey Site development should have substantial economic benefits to Bartow County over the coming decade. Future development would increase the current taxable value of the TAD by an additional $971.8 million. This would result in at least $33.7 million in annual property tax receipts when the Aubrey Site is fully built-out. The proposed industrial and commercial mixed-use development at the development is estimated to create 10,297 new jobs with an annual payroll of $610.7 million. Executive Summary 9 Bartow County Tax Allocation District #3 Highway 411 Corridor Summary of Economic Benefits OfTAD#3 Appraised value Incremental taxable value $2,609,615,921 $971,778,962 $33,722,254 $7,168,500 10,297 $610,678,398 Estimated annual total propertyt tax at build-out Estimated sales tax benefits (LOST,SPLOST, ESPLOST) Estimated newj jobs created during operations Estimated new payroll created during operations Source: KB Advisory Group Tax Allocation Increment Base On or before December 31, 2024, Bartow County, acting as the redevelopment agent, will apply to the State Revenue Commissioner for a determination of the tax allocation increment base of the proposed tax allocation district. The base is estimated as follows: Tax Allocation District #3:Summary Number of Parcels Total Acres 37 15,697 $16,405,597 $6,881,035,149 $40,221,192 0.58% $6,562,237 0.10% 0.68% Current Appraised (Market) Value Estimated Current Bartow County Tax Digest (Year End 2023) Current Taxable Digest -TADS #1 and #2 TADs #1 and #2 as Percent of Bartow Co Tax Digest Current Taxable Digest TAD#3 TAD #3 as Percent of Bartow Co Tax Digest TADs #1, #2, and #3 as Percent of Bartow Co Tax Digest Source: KB Advisory Group, Bartow Tax Assessor and GA Department of Revenue Thus, TAD #3 will represent 0.1% of Bartow County's tax digest committed to TAD. The cumulative digests of TAD #3 combined with the existing TADs in the County represents 0.68%, well below the state mandated maximum of 10% for all TADs in aj jurisdiction. Thet following plan for TAD #3 explains the findings in detail. Executive Summary 10 Bartow County' Tax Allocation District #3 Highway 411 Corridor REDEVELOPMENT PLAN INTRODUCTION Definition and Contents of ARedevelopment Plan Sec. 36-44-3(9) of the Redevelopment Powers Law definesarcdevelopment plana as" "a written planc ofc development forar redevelopment: area oradesignated portionthereof which:" (A) Specifies the boundaries of the proposed redevelopment: area; (B) Explains the grounds for a finding by the local legislative body that the redevelopment area ont the, whole has not been subject to growth and development through private enterprise and would not reasonably be anticipated to be developed without the approval of the redevelopment plan; (C) Explains proposed uses after redevelopment ofr real property, (D) Describes redevelopment projects and explains the proposed method oft financing; (E) Describes any contracts, agreements, or other instruments which are proposed to! be entered into for the purpose of implementing the (F) Describes the type of relocation payments proposed to be authorized, (G) Includes a statement that the proposed redevelopment plan conforms to the local comprehensive plan, master plan, zoning ordinance, and building codes of the political (H) Estimates redevelopment costst to bel incurred or made during the course of implementing the redevelopment ( Recites the last known assessed valuation of the redevelopment area and estimates the assessed valuation after redevelopment (0) States that if any property to be redevelopedi Is defined or eligiblet tol be defined as a historic property, such historic property will not be substantially: altered in any way thati is inconsistent with technical standards for rehabilitation; or demolished unless feasibility for reuse has been fullyevaluated,; This Redevelopment Plan presents the rationale, boundaries, fiscal data, and proposed projects that could result from the formation of Bartow County Tax Allocation District #3 including the Aubrey Site. This plan was prepared in conformance with the provisions of Georgia Redevelopment Powers Law (O.C.G.A. Title 36 Chapter 44) that governs the creation of the Tax Allocation Districts (TADs) ini the: state, This plan was prepared by KB Advisory Group in cooperation with The purpose of Bartow TAD #3 is to support development along Highway 411 int the northeastern portion of Bartow County. This area ise east of Highway 411 asi it intersects thet town of White, GA and Stamp Creek Road. It incorporates industrial sites and a planned residential The TAD will enable developers of the properties within the TAD to overcome inexistent infrastructure as well as significant on-site preparation costs. These costs and other impediments have made redevelopment of these properties economically unfeasible to date. This Redevelopment Plan outlines a strategy to both offset the high cost associated with development of industrial sites north of Stamp Creek Road and along I-75 and a major mixed-use residential community along the Upper Aubrey Lake area at the south end of the TAD, in addition to other development initiatives within the TAD. By leveraging the Countysredevelopment powers, the intent of this plan is to achieve higher quality development and increased job creation ina ar much shorter timeline than would bei feasible absent the economic development tools enabled by Bartow County TAD #3. The immediate objective is to encourage development along the Highway 411 corridor in northeast Bartow County, such as the Aubrey Site development. This potential project would bring substantial private investment in new manufacturing, logistics, and data center facilities in the two planned industrial parks, as well as retail services, professional services, and housing within a major mixed-use development. The major investment that would result from these three developments will have a direct benefit to the tax base of the surrounding commercial areas in northeast Bartow County. Required information to support creation of the Tax Allocation District is outlined in the text box at right. This Redevelopment Plan follows Bartow County. mixed-use development at the Aubrey property. proposed plan; ifany; subdivision; plan; (Continued on next page) Redevelopment Plan 11 Bartow County Tax Allocation District #3 Highway 411 Corridor this general outline. Section headings followed bya al letter inj parenthesis [e.g. (A)] refer to the relevant section in Georgia Code Chapter 36, Title 44, $3(9) which defines the required contents ofir redevelopment plans. Sec. 36-439continued: (K) Specifies the proposed effective dates for the creation andi termination oft thel TAD; (L) Contains a map specifying the boundaries of the proposed TAD and showinge existing uses and conditionsof real property; (M) Calculates the estimated tax allocation increment base of the proposed TAD; (N)S Specifies ad valorem propertytaxes to! be used for computingt tax allocation increments, supported by a required resolution; (0) Specifies the amount of the proposed tax allocation bond issue or other financing and the term and assumed interest rate for such (P) financing; Estimates positive tax allocation increments for the period covered by thet term of the proposed tax allocation bonds or other financing; (Q) Specifies the property proposed tol be pledged for payment ors security for payment of tax allocation bonds; (R) Includes a school system impact analysis ifthe plan proposes toinclude int the tax allocation increment, ad valorem taxes levied by a board of education; and (S) Includes suéhother.hntomationas may be required by resolution of the political subdivision whose area of operation includes the proposed redevelopment: area. Overview of Tax Allocation Districts Taxa allocation districts are Georgialsversion oft taxi increment financing. Tax increment financing is a redevelopment funding mechanism that reinvests the future taxes from real estate development back into a project as an incentive to attract new private investment into an area. As described by the Council of Development Finance Agencies. www.cdfa.net), TIF was created and first used in California in 1952. Hundreds of TIF districts have helped spur urban redevelopment in cities across the country. Today, 49 states and the District of Columbia In 1985, the Georgia General Assembly authorized formation of Georgia/'sform oft taxi increment financing called" Tax Allocation Districts (TADs). The purpose of a Georgia tax allocation district is similar to tax increment financing in any other state. It uses the increased property taxes generated by new development in a designated redevelopment area to finance costs related to the development such as building construction, demolition, public infrastructure, land acquisition, relocation, utilities, debt service and planning costs. Other costs itr might use: some form of tax increment financing. cover include: Sewer expansion and repair Storm drainage Street construction and expansion Water supply Other Utilities (electric, fiber optic, etc.) Parki improvements Landscaping Bridge construction and repair Curb and sidewalk work Grading and earthwork Traffic control Lighting Signage Cities and counties throughout Georgia have created TADS to stimulate major new construction and renovation or rehabilitation in underdeveloped or blighted areas. Over 80 Georgia cities and counties have either created or are considering establishing TADs in their communities. A TAD offers local governments the opportunity to promote worthwhile redevelopment projects that would otherwise not be financially viable or are located in areas which would otherwise be unattractive to private investment. Redevelopment Plan 12 Bartow County" Tax Allocation District #3 Highway 411 Corridor Numerous tax allocation districts throughout Georgia demonstrated the économic benefits that TADS Astronger economic base- TAD incentives can attract private development that would Thel haloeffect-Several Georgia TADs have generated significanti newi investment ini areas surrounding the TAD as well as within the tax allocation districts, further expanding No impact on current tax evenues-Redeveppment is effectively promoted without tapping into existing general governmental revenues or levying special assessments on Expands the local tax base-By stimulating economic activity, TAD's expand the local tax digest, create additional demandi fori retail: sales and as a result, local sales taxes. Iss sel-financing-TADS are self-financing, since they are funded by the increased tax Highle leverage--rypicaly TAD funds represent between 5-15% of project costs, leveraging Ins summary, a tax allocation district is a financing méchanism that can be uséd to pay for public infrastructure ori reduce private development costs, to make an underutilized area attractive to private investment and development, at no additional cost to local taxpayers. Establishing a TAD does not create at tax increase for either the community or property owners within the district. Nor does a TAD reduce tax revenues to the community below levels that existed at the time the district was certified. In many cases, TADS can increase general fund revenues from new business personal property taxes, added county sales taxes, hotel/motel taxes, business license fees and other reyenues that are not can generate. These benefits include: not otherwise have occurred absent oft the District designation. positive economic impacts to thel host taxing jurisdictions, property owners. revenues from new development within the district. 7to20t times their value in private investment. pledged for redevelopment purposes and would not otherwise occur. Purpose and Vision for TAD #3 The proposed Bartow County TAD #3 will provide financing to improve roadway and utility infrastructure to: support the financial viability of new commercial and residential development along the Highway 411 Corridor from its intersection with Interstate 75 upt to Stamp Creek Road. The Aubrey Site development within TAD #3 willl bet thet first major project within TAD #3 and includes the areas to thee east of White, GA and Highway 411 asi it intersects with Stamp Creek Road. This areais isa approximate to Cartersville and provides quick access to Interstate 75 through Highway 411. The vision for the Aubrey Site development is to: Develop the site's northern and southern portions as industrial and manufacturing sites. These two tracts will be home to 9.5 million square feet of new manufacturing, logistics, and data center spaces with convenient access to Interstate 75 via a new road network through the Aubrey Site that will divert the majority of the traffic generated from new employment away from the constrained section of Highway 411; Redevelopment Plan 13 Bartow County' Tax Allocation District #3 Highway 411 Corridor Expand and increase the capacity of utility systems along the Hwy 411 corridor to serve new commercial and residential uses within TAD #3 as well as broader Bartow County; Maket transportation: andt trafficcontroli improvementst tol Highway 411, Stamp Creek Road, and roadways internal to and surrounding the Aubrey Site to lessen any traffic impacts in Develop the Aubrey Site's central portion as a mixed-use development. This will be the anchor of the redevelopment area and provide a major new residential and commercial center that will attract and retain retail spending by Bartow County residents in the area that otherwise might be diverted to new retail offerings outside of the county; Create at thoughttuly-planned residential community that respects that natural beauty of Bartow County and meets the needs of current and future Bartow County residents with adiverse offering of detached homes, townhomes, and apartments; Through successful development of the Aubrey Site, increase demand and encourage new commercial and/or housing development within the larger commercial area and along the The opportunity for Bartow County ist to use thet funding mechanism oft the TAD1 tol leverage substantial new private reinvestment through targeted incentives that will help make development of the Aubrey Sitet financially feasible. Ifsuccessful, the development would the area; site, thereby expanding thej job base of Bartow County; turn al long-vacant propertyi into a vibrant mixed-use: area. Redevelopment Plan 14 Bartow County" Tax Allocation District #3 Highway 411 Corridor GEOGRAPHIC BOUNDARIES OFTHE PROPOSED REDEVELOPMENT AREA (A) The boundaries for the Redevelopment Area and TAD #3 are shown on the map below. The Redevelopment Area includes 37 properties covering 15,697 acres within the individual tax parcels. Bartow County' TAD #3: Highway 411 Corridor This estimate represents the sum of the acreage within individual tax parcels and does not include area associated with streets, rail lines or polygons which contained no data. Most of these "empty" parcels are located adjacent to roads or raill lines are assumed to be rights of way or utility easements. Redevelopment Plan 15 Bartow County Tax Allocation District #3 Highway 411 Corridor TAD #3 Redevelopment Area Parcels Proposed Properties tol be Included in Bartow CountyTAD# #3 Parcel ID 0102-0184-001-2 0090-0277-003 0090-0313-001 0089-0313-001 0089-0313-002 0090-0277-001 0089-0299-008 0090-0300-001 0090-0277-004 0102-0184-001-3 W002-0005-001 W004-0001-004 W004-0001-003 W004-0002-007 W004-0002-003 W004-0002-002 W004-0002-008 W004-0002-009 0089C-0004-001 W004-0002-001 0102-0215-001 W004-0006-004 W004-0006-005 0090-0274-001 0090-0274-002 0090-0303-001 W004-0004-055 W004-0004-053 W004-0004-052 W004-0002-006 W004-0003-016 W004-0003-003 W004-0003-004 W004-0003-005 W004-0003-006 0089-0299-003 0089-0278-001 Acreage Appraised $* Assessed $ 1,443.91 $3,444,729 $1,377,892 1.01 2.00 4.00 1.39 4.00 1.00 0.13 0.00 2.14 1.69 1.99 1.30 2.77 0.49 0.69 0.91 1.09 13.19 37.88 1.13 0.20 27.00 29.00 0.59 1.05 7.50 6.50 0.98 2.23 1.38 3.24 2.16 1.04 0.49 $259,526 $103,810 $225,630 $90,252 $94,728 $37,891 $336,918 $134,767 $305,321 $122,128 $245,696 $98,278 $8,750 $35,000 $14,000 $217,700 $87,080 $107,860 $43,144 $286,502 $114,601 $150,000 $60,000 $426,910 $170,764 $14,000 $20,000 $192,038 $76,815 $385,840 $154,336 $15,896 $203,953 $81,581 $323,133 $129,253 $115,524 $46,210 $75,900 $30,360 $71,195 $28,478 $142,128 $56,851 $402,621 $161,048 $254,571 $101,828 $107,325 $42,930 $210,000 $84,000 $51,409 $20,564 $106,726 $42,690 $62,212 $43,427 $17,371 $202,130 $80,852 $304,589 $121,836 $3,500 13,814.48 $5,132,300 $2,052,920 $5,600 $8,000 $6,358 276.33 $1,823,410 $729,364 $24,885 TotalTAD#3 Values 15,696.88 $16,405,597 $6,562,237 "The taxable appraised value, referred to as the Fair Market Value (FMV), is based on market value determined by the respective county's tax assessor and may not equal the property'srecent. sale price ord current market value fromo ani investment perspective Source: Bartow Tax Assessor, KB Advisory Group Redevelopment Plan 16 Bartow County Tax Allocation District #3 Highway 411 Corridor The properties inl TAD #3 have a current tax, appraised value of $16.4 million. The largest portion is in asingle parcel north of Stamp Creek, which covers 13,814 acres andl has a current taxable value of $2.0 million. A second large parcel made up of 1,444 acres has an assessed value of $1.378 million. Combined, ADB5ayewtata. assessedv value of$ $6.6million." Thel TAD areaa alsoi includes the contiguous public right-of-way that links the TAD parcels. A few parcels are located within the çorporate limits oft the City of White, but the City of White is not committing any of their millage into Through the creation of the Highway 411 Corridor TAD: #3, Bartow County would dedicate a portion of future ad-valorem taxes to be invested in the area in order to make future development financially feasible. The successful development of the parcels within the TAD would, in turn, generate tax revenues from the redevelopment and resulting increased value of nearby properties. The development of these vacant and/or underutilized properties would therefore generate significant fiscal benefits for Bartow County and the Bartow County School District, as well as provide economic the TAD, growth and employment opportunities for Bartow area residents. GROUNDS FOR EXERCISE OF REDEVELOPMENT POWERS (B) following definition ofa a redevelopment area", Tax Allocation. Districts (TAD) are authorized in Georgia under the Redevelopment Powers Law, O.C.G.A. Title 36, Chapter 44. In 2009, the Redevelopment Powers Law. was amended, with the Redevelopment ared' means an urbanized: drea as determined. by current dataj from the US Bureauof the Census or an area presently served bys sewer that qualifies as a 'blighted or distressed area; a (AJA 'blighted or distressed area' is an area thati is experiencing one of more conditions ofk blight as (), The presence of structures, buildings, or mprovements that by reason of dilapidation; deterioration; dge; obsolescence; inadequate provision for ventilation, light, air, sanitation, or open space; overcrowding; conditions which endanger life or property by fire or ather causes; or any combination of such factors, are conducive to ill health, transmission of disease, infant mortality, high unemployment, juvenile delinquency, or crime and are detrimental to the public (i) The presence afap predominant number of substandard, vacant, deteriarated, or deteriorating structures, the predominance of d defective or inadequate street layout, or transportation facilities; orj faulty lot layout in relation to: size, accessibility, or usefulness; (iije Evidence of pervasive poverty, defined as being greater than 10 percent of the population in the area as determined by current data from the U,S. Bureau of the Census, and an unemployment rate that is 10 percent higher than the: state average; (iv/Adverse effects of airport or transportation related noise or environmental contamination or degradation or other adverse environmental factors that the political subdivision has determined to be impairing ther redevelopment oft the area; or M) The existence of conditions through any combination ofthef foregoing that substantially impair the sound growth of the community and retard the provision of housing accommodations on (B) A deteriorating area' is an ared that is experiencing physical ore economic decline ors stagnation deteriorating area,'or an 'area with inadequatel infrastructure as follows: evidenced. by: health, safety, morals, or welfare; employment opportunities; as evidenced by two or more of thej following: Redevelopment Plan 17 Bartow County Tax Allocation District #3 Highway 411 Corridor ( The presence, ofo a substantial number of structures or buildings that are 40) years old or older (ii) High commercial or residential vacancies compared to the political subdivision as a whole; (ii The predominance ofs structures or buildings of relatively low vdlue compared to the value of structures or buildings in thes surrounding vicinity or significantly: slowers growth int the property (iv) Declining or stagnant rents ors sales prices compared to the political subdivision as a whole; (v) In areas where housing exists at present or is determined by the political subdivision to be appropriate after redevelopment, there exists a: shortage of safe, decent housing that is not substandard and that is affordable for persons of low and moderate income; (vi)Deteriorating ori inadequate utility, transportation, or transit infrastructure, and (C) An area with inadequate. nfrastructure means an area characterized by: the ared, either at present or following redevelopment; or and have no historic: significance; tax digest thani is occurring in the political: subdivision as a whole; () Deteriorating or inadequate parking, roadways, bridges, pedestrian access, or public transportation or transit facilities incapable of handling the volume oft traffic into or through (ii) Deteriorating or inadequate utility infrastructure either at present orf following redevelopment. The Highway 411 Corridor Qualifies as al Redevelopment Area Bartow County has the authority to exercise all redevelopment and other powers authorized or granted to municipalities and counties pursuant to the Redevelopment Powers Law (Chapter 44 of Title 36 of the O.C.G.A.), as approved by Bartow voters by referendum on May 22, 2018. The redevelopment area meets the statutory definition of a Redevelopment Area under two specific provisions of the Redevelopment Powers Law cited above: C. An "area with inadequate infrastructure" means an area characterized by: Deteriorating or inadequate parking, roadways, bridges, pedestrian access, or public transportation or transit facilities incapable of handling the volume of traffic into or through the area, either at present or following redevelopment; or i. Deteriorating or inadequate utility infrastructure either at present of following redevelopment. Information justifying the designation oft the redevelopment area as qualifying for application of the Redevelopment Powers Law is presented ini the following section, CI Deteriorating or inadequate parking, roadways, bridges, pedestrian access, or public transportation or transit facilities incapable of handling the volume of traffic into or through the ared, either at present orj following redevelopment; The development of the properties within TAD #3, including the Aubrey Site, a major industrial and mixed-use community, will require extensive new infrastructure to support the new development associated with the project given constraints on expanding Highway 411 north ofl Interstate 751 through the City of White. This will include the creation of an internal road network that will be designed to handle the majority of new trips generated by added employment and housing, and additional intersections that will connect the new on-site roads to the surrounding arterial road network. Currently, the road network within TAD #3 needed to: service the development is nearly inexistent. In Redevelopment Plan 18 Bartow County Tax Allocation District #3 Highway 411 Corridor addition, major intersèction improvements, road widening, and signalization of key intersections will be necessary to mitigate the impacts of the new investment in this area. Along with new roadway improvements, lands within TAD #3 will also receive pedestrian and bicycle pathway networks comprised of new sidewalks, trails, and parks that will provide residents with more environmentally friendly means of transport through the TAD: and facilitate enjoyment oft the natural environment. Cli Deteriorating or inadequate utility infrastructure either at present or following redevelopment. Withi the development of over 1,200 acres of commercial dèvelopment across industrial, retail, and office uses, in addition tot the 2,817 planned residential units on 497 acres of the mixed-use village, the current infrastructure available on the Aubrey Site is inadequate to support the planned development. Additional capacity. for the sewer and water systems both on the site and in the Bartow County off-site systems will be needed to make the Aubrey Site viable for the level of development contemplated by the current land use plan. Additionally, street lighting, telecom and Accordingly, Bartow County TAD: #3 Highway 411 Corridor meets the requirements for establishing ar redevelopment area as defined above in Georgia's Redevelopment Powers Law, Because of the inadequate transportation: and utilityi infrastructure described above, the proposed redevelopment area on the whole has not beens subject to growtha and developmentthrough private enterprise: and would not reasonably be anticipated to be developed without the approval of this proposed an electric power network to: service the new development willl be required. redevelopment plan. PROPOSED LAND USES AFTER REDEVELOPMENT (C) The proposed Tax Allocation District #3 is intended to support the development of a proposed large- scale development and complementary development spurred byt the large-scale project. The currently proposed Aubrey: Site development consists of multiple real estate classes which are adjacent to the City of White, GA, alongt the Highway 411 and Stamp Creek areas. The plan includes approximately: 9.5 million: square feet of industrial uses in an Industria/Manufacturing/Data Center portion which spans 1,079 acres. The residential portion of the development spans 2,817 units in 497 acres; approximately half of the units are rental products and half are for-sale products. They consist of apartments, single family! homes, townhomes, and cottage homes. The residential section of the development willl largely be in a mixed-use village concept which willi include 400,000 SF in 40 acres dedicated to professional services and office spaçe and 531,000 SF in 106 acres dedicated to retail uses. As this large-scale development is funded and proceeds forward, additional parcels within TAD: #3 willl be developedwith ancillary commercial and residential uses. Redevelopment Plan 19 Bartow County Tax Allocation District #3 Highway 411 Corridor PROPOSED REDEVELOPMENT PROJECTS ANDI METHOD OF FINANCING (D) the expectation that other smaller, complementary projects may follow. The site plan fort the Aubrey Site development is included below. Oft the lands within the TAD #3 boundaries, one major development project is currently proposed with Aubrey Site development Conceptual Site Plan 0 INDUSIRIAL RESIDEATIAL MID DENSIY OVERALL MASTER PLAN PROGRAM Industrial Uses: Commercial Uses: Residential Units: RESIDENTIAL DENSITY +/-10.0Msf +/-800Ks sf +/-3,000u units IONS Redevelopment Plan 20 Bartow County Tax Allocation District #3 Highway 411 Corridor Proposed Development Plan - Aubrey Site development Development Plan: Aubrey Site development Residential Rental Product Mixed Use Tract- Apartments Mixed Use Tract- Townhomes For-Sale Product Mixed Use Tract Townhome Mixed Use Tract- Cottage Homes Mixed Use Tract- Single Family Homes Subtotal: Residential Commercial Industrial South Tract North Tract Professional & Retail Services / Office Mixed Use Tract Retail Mixed Use Tract Subtotal: Commercial Units Acreage 999 360 422 326 710 2,817 50 45 53 65 284 497 582 497. 40 106 1,225 1,722 Total Planned Development: Residential Units and Total Acreage 2,817 Thet table above: summarizes the proposed development program. At completion, there willl be! 531,000 SF of retail spaces across 106 acres, 400,000 SF of professional and retail services/office across 40 acres, as well as 9.5 million SF of industrial and warehouse uses in 1,079 acres. The retail and professional service program is largely located in a mixed-use village that includes a pedestrian- oriented core with shops and restaurants oriented around a village green as well as larger format retailers such as grocery, home improvement, and department stores. Furthermore, the housing included ini the redevelopment willl be composed ofs single-family homes, townhomes, cottage homes, and apartments. The residential portions of the Aubrey Site will be divided into a mixed-use village core and lower- and medium-density, subdivisions. The residential portion oft the development will be served by recreation-focused neighborhood amenities. A site for a new elementary school abutting This Redevelopment Plan does not attempt to forecast any additional future development ini the TAD or the: surrounding: areas beyond the Aubrey Site. However, it can be reasonably assumed that if the development is successful, additional development could be attracted to additional areas in the TAD.. Further, development around the TAD would immediately generate additional property tax and sales tax revenues to Bartow County and Bartow County Schools. This phenomenon, known as the "halo Itis anticipated that the primary method of financing the Aubrey Site development will be through private equity and debt. TAD proceeds would be used to supplement private financing and facilitate the residential portions of the development is planned to be donated. effect" has occurred in many other TAD districts around Georgia. Redevelopment Plan 21 Bartow County Tax Allocation District #3 Highway 411 Corridor installation of new public infrastructure in order to make the proposed commercial and residential components of the Aubrey Site development financially feasible. TAD proceeds would be applied to address off-site and on-site development costs and reduce the cost of constructing access roads and internal infrastructure. In addition, a portion of TAD funds will be used to make transportation improvements to adjacent access roadways. Forecasts of potential TAD proceeds and proposed uses oft those procèeds are addressed in detail later in this plan. CONTRACTUAL RELATIONSHIPS (E) Pursuant to O.C.G.A, $34-44-3(a), the Bartow County Commissioner will act as the redevelopment agent and will exercise redevelopment powers as needed to implement this plan. In doing so, the Commissioner, either directly or through its designee, may conduct or delegate the following activities and enter intoi the following contracts: 1. Coordinate implementation activities with other major participants in the Redevelopment Plan and their respective. development and planning entities involved in implementing this 2. Enter into development agreements with private developers to construct infrastructure and 3, Negotiate and enter into commercial financing agreements and intergovernmental 4. Coordinate public improvement planning, design and construction among City, County and 5. Prepare (either directly or through subcontract to other appropriate entities) economic and financial analyses, project-specific feasibility studies and assessments of tax base increments ins support of thei issuance of tax allocation bonds or other forms of financing by the County. 6. Engage financing professionals such as attorneys and investment bankers to assist the County in the issuance of TAD bonds that are underwritten based on the current and projected taxi increments generated by the tax parcels within TAD #3 and issue such bonds. 7. The County will enter into contractual relationships with qualified vendors for the provision. of professional: and others services required inc qualifying and issuing the bonds or other forms of financing, including, but not limited to, legal, underwriting, financial analysis and other 8. The County will perform other duties as necessary to implement the Redevelopment Plan. Ther majority of the land within TAD#3, including the Aubrey Site, is presently undeveloped or has been used for agricultural purposes. At this time, it appears that no existing residences or businesses will need to be relocated, However, if at any timé in the life of TAD #3 relocation of any residences or businesses is required, relocation expenses may be provided foru under all applicable federal, state and plan. vertical developments to implement the plan. agreements as needed. State agencies and departments. related services, RELOCATION PLANS (F) local guidelines. Redevelopment Plan 22 Bartow County Tax Allocation District #3 Highway 411 Corridor CONFORMANCE WITH LOCAL COMPREHENSIVE PLANS, ZONING & LAND USE CODES (G) Currently, the county's zoning maps and future land use maps envision the area as mainly an agricultural site with some manufacturing uses. Appropriate zoning, development regulations and design standards will be prepared to support implementation of the proposed Aubrey Site development oncei iti ist underway as part of the site planning, permitting, and engineering process. The followingr maps are provided fromt the County Zoning Map, Bartow County/s2018-20281 Comprehensive Plan (2023 update). Relevant observations from each oft these maps includet thet following: Redevelopment Plan 23 Bartow County' Tax Allocation District #3 Highway 411 Corridor Zoning Predominant: zoning withint the redevelopment area allows fori Industialamndmanhactunine. withr most of the land in unincorporated: areas, as shown on the mapl below. Bartow County: Existing Zoning Map Redevelopment Area sits primarily to the East of White, GA and Highway 411) a Mi MICU - MIwC) o a OICU a Olwc) PUD PUDCU - PUDC) R1 R2 R3 R4 RICU a RIwo R2CU a R2wC R3CU R3(wc) RACU R4(wc RE-1 RE-2 REICU RE1C) RE2CU RE2wC) WAz ZoningwithConditiens a BPD(wC) Unknown R R7(c F R-7 A1 - AICU D A1lwc) a EPD C1 CICU a Ciwc) CN a CNCU CNIwC B ConditionalUse 1-1 12 - lcu 11lwc) 12CU 2(wc) Incorporated White-PinoLog RE-1 0(wC) A0 BPD Incorporated MO s RO(WG) A large portion of the TAD #3 lands were zoned as Planned Greenspace and Development District (PGDD) in 2023 including the lands comprising the Aubrey Site development. Uses included in the PGDD Final Concept Plan below include Industrial, Low Density Residential, High Density Residential, and Commercia/Retalil, The development program for the Aubrey Site development contained herein isc consistent with the PGDD: Zoning. Redevelopment Plan 24 Bartow County Tax Allocation District #3 Highway 411 Corridor H5 AUBREY PGDD FINAL CONCEPT PLAN BARIOW/COUNTYI GEORGIA S LEE& ASSOCIATES OMMIRCIAN EALI VCES Redevelopment Plan 25 Bartow County Tax Allocation District #3 Highway 411 Corridor Future Land Use The Bartow County Comprehensive Plan designates the redevelopment area's future land use mainly as agricuture/forestry, mining, and industrial, as shown on the map below. Bartow County 2018-2028 Comprehensive Plan (2023 update): Future Land Use Map Redevelopment Area sits primarily to the East of White, GA: and Highway 411) LAND USE LEGEND Incorporated/City! Limits Rural Estate AgriculturelForesty Low Donsity Rosidontial Modium/High Donsity! Residontial ResidentialMixed Use Commercial CommorciaiMixed Use Industrial Mining Parks/Conservation Publicinstitutional Etowah Valloy Historic District Redevelopment Plan 26 Bartow County Tax Allocation District #3 Highway 411 Corridor ESTIMATED REDEVELOPMENT COSTS/METHOD OF FINANCING (H) The law requires that Redevelopment Plans estimate 'redevelopment costs to be incurred or made during the course of implementing the plan,"Estimating potential costs first requires estimating the amount of revenues that may be realistically generated from successful implementation of the plan. Once estimated, available revenues can be: assigned to eligible cost items. The vast majority oft the cost of developing the proposed Aubrey Site development, the large-scale mixed-use project presently in planning, will be privately financed and paid for through land sales and profits from building construction. However, existing values for developed commercial sites in the Bartow County market are nots sufficient to cover "extraordinary" cost items that are necessaryto provide prepare the: site for development and make the necessary traffic, parking and circulation improvements, as well as to upgrade and extend utility infrastructure to serve an estimated 2,817 residential units and a total of 10.5million SF of potential future commercial development. TAD Potential of Tax Allocation District #3 The following section estimates potential bond revenues from one development project in TAD #3, assuming that both) Bartow Countyand1 the! Bartow County School District pledge their respective M&O millage to the redevelopment effort. As other properties within TAD #3 are developed, the revenues estimated below will increase. A few parcels are located within the çorporate limits of the City of As shown below, the properties in TAD #3 have a current assessed/taxable value of $6.6 million. The largest portion of the TAD is in parcel 0102-0184-001-3, which covers 13,814 acres and has at taxable value of $2.1 million. On the whole, the site is composed of 15,697 acres, appraised value of $16.4 million, and combined assessed values of $6.6million. The TAD: area alsoi includes the contiguous public White, but the City of White is not committing any of their millage into the TAD. right-of-way that links the TAD parcels. Proposed Properties to! be Included in Bartow CountyTAD#3 Parcel ID 0102-0184-001-2 0090-0277-003 0090-0313-001 0089-0313-001 0089-0313-002 0090-0277-001 0089-0299-008 0090-0300-001 0090-0277-004 0102-0184-001-3 W002-0005-001 W004-0001-004 W004-0001-003 W004-0002-007 W004-0002-003 W004-0002-002 Acreage Appraised $* Assessed $ 1,443.91 $3,444,729 $1,377,892 1.01 2.00 4.00 1.39 4.00 1.00 0.13 0.00 2.14 1.69 1.99 1.30 2.77 0.49 $259,526 $103,810 $225,630 $90,252 $94,728 $37,891 $336,918 $134,767 $305,321 $122,128 $245,696 $98,278 $8,750 $35,000 $14,000 $217,700 $87,080 $107,860 $43,144 $286,502 $114,601 $150,000 $60,000 $426,910 $170,764 $14,000 $3,500 13,814.48 $5,132,300 $2,052,920 $5,600 Redevelopment Plan 27 Bartow County Tax Allocation District #3 Highway 411 Corridor W004-0002-008 W004-0002-009 0089C-0004-001 W004-0002-001 0102-0215-001 W004-0006-004 W004-0006-005 0090-0274-001 0090-0274-002 0090-0303-001 W004-0004-055 W004-0004-053 W004-0004-052 W004-0002-006 W004-0003-016 W004-0003-003 W004-0003-004 W004-0003-005 W004-0003-006 0089-0299-003 0089-0278-001 0.69 0.91 1.09 13.19 37.88 1.13 0.20 27.00 29.00 0.59 1.05 7.50 6.50 0.98 2.23 1.38 3.24 2.16 1.04 0.49 $20,000 $192,038 $76,815 $385,840 $154,336 $15,896 $203,953 $81,581 $323,133 $129,253 $115,524 $46,210 $75,900 $30,360 $71,195 $28,478 $142,128 $56,851 $402,621 $161,048 $254,571 $101,828 $107,325 $42,930 $210,000 $84,000 $51,409 $20,564 $106,726 $42,690 $62,212 $24,885 $43,427 $17,371 $202,130 $80,852 $304,589 $121,836 $8,000 $6,358 276.33 $1,823,410 $729,364 TotalTAD: #3 Values 15,696.88 $16,405,597 $6,562,237 *The taxable appraised value, referred to as the Fair Market Value (FMV), Is based on market value determined by the respective county's tax assessor and may note equal the property's recent sale price ord current market value from an Source: Bartow Tax Assessor, KB Advisory Group investment perspective The growth in the tax increment from the currently proposed development in TAD #3 was used to estimate the amount of TAD bond financing that could be supported. This analysis assumes that Bartow County issues tax exempt bonds using a 27-year amortization period following a capitalized interest period based ont the incremental property taxes that are paid into the Special Fund each year andt that the TADI bond would likely bei issued inr multiple tranches as the development plani is executed. This is only one ofr many TAD bond approaches that may be used by the County and is included here for illustrative purposes. Redevelopment Plan 28 Bartow County Tax Allocation District #3 Highway 411 Corridor Estimated TAD Bond Potential Tax Increment at Build Out Bondable Property Tax. Semi Annual Bond Payment TAD Bond. Amount (27 year @ 6.0%) Capitalized Interest in 36 Months Debt Reserve at 11% Issuance Cost at 3% Net TAD Proceeds Full Build-Out $23,711,407 $16,000,000 $8,000,000 $212,621,284 $15,308,732 $23,388,341 $6,378,639 $167,545,572 The net taxable value at the proposed. Aubrey Site development on its corresponding parcels within The development of $2.6 million in new tax appraised value from the Aubrey Site alone would result in; an incremental taxable value of $971.8 million at the end of the build-out. This increment is net of the current taxable value of the TAD area, which will be replaced by the new development. If other parcels within TAD #3 are devéloped, the taxi increment would increase above these estimates. The estimated amount of proceeds that this revenue: stream could leverage was determined usingt the ther TAD, after a multi-year build-out, is $1.0r million. following financing assumptions: Tax-Exempt Bond Financing- --The initial TAD bond is assumed to be issued in order to provide the Aubrey Site development with funding that may be needed tos support site preparation, road and infrastructure extensions, andi internal circulation. This band is assumed to have: a 27-year amortization, period following a capitalized interest period, a1 120% debt çoverage ratio and a 6% interest rate, Calculations assume that the first year of interest payments and a one-year debt service reserve would be capitalized into the bond. A 3.0% issuance cost to cover any loan fees and potential reimbursements the County may wish to recover was alsa assumed. As the development proceeds, the County would be able to issue additional TAD debt secured by the completion of the previous development and the planned development that would occur in roughly in: a ten-year period. Over al likely series of financings, an estimated total of $212,6 million in TAD bond debt could bei issued and the total potential proceeds available to the developer could be $167.6 million at build-out. Utilizing alternative terms, interest rates ànd debt coverage ratios would also produce differing estimates of bonding potential. The preceding estimates are intended to be representative and conservative. Any number of realistic alternative scenarios could also be modeled and could easily produce results that vary by at factor of 25% or more depending on future market conditions and/or whether a credit enhancement is provided to secure al lower interest rate. Redevelopment Plan 29 Bartow County Tax Allocation District #3 Highway 411 Corridor PROPOSED REDEVELOPMENT COSTS (USES OF TADI PROCEEDS) Priorities for the use OfTAD proceeds would evolve as project planning for both major developments proceeds, more, detailed site development budgets are prepared, and actual costs for each development become better known. The intent is to employ TAD proceeds as available andi necessary tor make the intended development financially feasible andt to: attract the types of end-users that would positively impact the TAD# #3 redevelopment area and ther regional economy. The potential uses OfTAD proceeds under the Redevelopment Powers Law are quite broad and may include (a): supporting site development including building access roads, site preparation, demolition, utility improvements, etc. (b) access enhancements and signalization at the main entrances to the property, (c) funding green space, transportation improvements, utilities, public parking structures, etc., and (d) acquisition of qualified infrastructure funded by private sources. Specific potential uses for TAD proceeds are outlined ini thet table below and relate tot the following: Traffic Enhancements and Intersection Improvements: Given the substantial volume of traffic that will be generate by the large: scale residential and commercial development, TAD funding can be used to provide access and egress enhancements, interchange improvements, deceleration lanes, and enhanced signalization. While some of these costs will be absorbed by the projects, each site has unique access challenges and improvements. which will be needed to ensure their impact on the road network int the area is minimized. Utilities: The properties within TAD #3 lack the full range of utility infrastructure that will be required to support the planned level of development. For example, the addition of 10.5 millionsquare: feet ofi industrialandi commercialspace: and 2,817 residentialunits int the Aubrey Site, a mixed-use development, will mandate a major utility upgrade to provide the needed water, sèwer, electrical and telecom services required by the new development. Internal dirculation/streetscape Enhancements: With the active uses planned on the Aubrey Site and adjacent parcels including the addition of residential, retail, industrial, and professional services and office space the creation of an internal street network to handle traffic that allows ready access to all parts of both mixed-use developments is essential. In addition, creating streetscape enhancements which promote walkability and internal pedestrian circulation willl be key to the success of the site, especially at the mixed-use village portion of it. The goal is to drive to the site and park once, with direct pedestrian access to the Park and Green Space Enhancements: The developers are planning to include extensive green: spaces and parki uses in the Aubrey Site and may want to use TAD1 funding fora a portion of the cost of creating these active green areas oft the development. This may include walking retail, restaurants; and: services in the area. and biking trails, pathways, parks and community athletic facilities. Redevelopment Plan 30 Bartow County' Tax Allocation District #3 Highway 411 Corridor Arepresentative funding allocation fort the potential TAD #3 Funds is itemized below: Potential Uses OfTAD#3 Proceeds Potential TAD Expenditure 1. Major Collector Roads incl. Utility Mains 2. Minor Collector Roads incl. Utility Mains 3.U Utility Extensions and Facilities 4.1 Intersection Improvements 5. Public Parks, Trails & Recreation Total TAD Funding Conclusion Estimated Allocation Potential TAD Funds $60,880,000 $56,720,000 $16,900,000 $10,160,000 $11,204,000 $155,864,000 39.1% 36.4% 10.8% 6.5% 7.2% 100.0% The estimated $167.5 million in TAD bond proceeds could be used in numerous combinations as specific needs arise. The above table contains a representative distribution of fund uses among the priorities described above. In practice, TAD proceeds will be allocated to specific purposes as development opportunities arise and specific agreements are negotiated between individual developers seeking TAD funding and Bartow County. The County retains total discretion to award developments int the TAD district that request funds an: amount it feels is appropriate from zero dollars The calculations made above provide one reasonable forecast of achievable future redevelopment within TAD #3, resulting in gains. in the area's real estate tax digest, corresponding tax allocation increments, supportable TAD financing proceeds and potential uses for those proceeds to reduce redevelopment costs, Bartow County is fortunate in that with the supplemental funding provided by the TAD, substantial development can occur within the TAD boundary and has the potential to generate significant incremental taxes as well as to create a new standard for high-quality mixed-use As noted above, numerous combinations of equally reasonable inputs and assumptions could be applied to produce different results. This Redevelopment Plan sets an achievable expectation for the to thet full amount of the funding request. developments. TAD's future financial performance. ASSESSED VALUATION FOR1 TAD() The redevelopment area for Bartow County Tax Allocation District #3: Highway 411 Corridor, as definedi int this Redevelopment Plan, includes 37 tax parcels and 15,697 acres withinthose parcels. TAD #3 has an estimated fair market value of $16.4 million. and a taxable assessed value (40% digest) of Pursuant to the Redevelopment Powers Law, upon adoption of the Redevelopment Plan and the creation of the tax allocation district, the County will request that the Commissioner of Revenue of the State of Georgia certify the tax base for December 31, 2024, the base year for the proposed tax $6,6million, according to 2024 Bartow County tax assessment records. allocation district. Redevelopment Plan 31 Bartow County Tax Allocation District #3 Highway 411 Corridor The tax base will increase in the future through the private investment stimulated by the implementation of the Redevelopment Plan and the reinvestment of TAD increments back into the project. Upon build-out oft the Aubrey Site, the major project presently planned within TAD#3, thist tax allocation district is projected to have at tax-appraised property value that exceeds $2.6 billion at the end of construction. Additional development on smaller parcels adjacent to the Aubrey Site may increase this amount. HISTORIC PROPERTY WITHIN BOUNDARIES OF TAD (J) The proposed redevelopment areai for TAD #3 does not contain any "historic" properties listed locally or on the National Register of Historic Places. Int the highly unlikely event that any historic properties are identified within the TAD for redevelopment, they will not be substantially altered in any way inconsistent with technical standards for rehabilitation; or demolished unless feasibility for reuse has been evaluated based on technical standards for the review of historic preservation projects, with technical standards for rehabilitation and review to be those used by the state historic preservation officer. CREATION & TERMINATION DATES FORTAD(K) Tax Allocation District #3 will be created effective December 31, 2024, for a period oft twenty-seven (27) years from the effective date with a proposed termination date of December 31, 2051; however, the Redevelopment Powers Law provides that the TAD will be in existence until all redevelopment For analysis purposes, this Plan assumes that the TAD will remain in existence for at least 27 years. Existing land use within Bartow County TAD #3 is predominantly, vacant land, agricultural uses, and highway right-of-way (ROW). These uses are: shown on the Existing Land Use Map presented earlier in this report. The boundaries oft the TADI include thet totality oft the 37 parcels listed and the right-of-way along railways, Highway 411, Interstate-75, and Stamp Creek Road, as shown in yellow on the map costs, including debt service, are paid in full. TAD BOUNDARIES EXISTING USES OF REAL PROPERTY(L) below. Bartow County TAD: #3 boundaries are: shown on the following map. Redevelopment Plan 32 Bartow County Tax Allocation District #3 Highway 411 Corridor Bartow County TAD #3: Highway 411 Corridor Ac complete list of TAD parcels appears in Appendix A. For any section of roadway that is used as a boundaryi int thel TADI map, including but not limited to Highway 411,Stamp Creek Road and Oak Street, the entire section of ROW is intended to be included inside the TAD boundary in order to maintain flexibility to use TAD proceeds for public improvements, if desired by the redevelopment agency. Implementation of this redevelopment plan may not be entirely consistent with the County's existing zoning, future land use map, and previously identified strategies for the area as articulated in the County's Comprehensive Plan and adjustments will be required for the proposed land uses. TAX ALLOCATION NCREMENT BASE (M) On or before December 31, 2024, Bartow County, acting as the redevelopment agent, will apply tot the State Revenue Commissioner fora a determination: oft thet taxa allocation increment base oft the proposed tax allocation district. The base is estimated as follows: Redevelopment Plan 33 Bartow County' Tax Allocation District #3 Highway 411 Corridor Tax Allocation District #3:Summary Number of Parcels Total Acres 37 15,697 $16,405,597 $6,881,035,149 $40,221,192 0.58% $6,562,237 0.10% 0.68% Current Appraised (Market) Value Estimated Current Bartow County Tax Digest (Year End 2023) Current Taxable Digest- TADS #1 and #2 TADs #1 and #2 as Percent of Bartow Co Tax Digest Current Taxable Digest TAD #3 TAD: #3 as Percent of Bartow Co Tax Digest TADs #1, #2, and #3 as Percent of Bartow Co Tax Digest Source: KB Advisory Group, Bartow Tax Assessor and GA Department of Revenue Property Taxes Collected Within TAD #3 to Serve as Base: Total Taxable ($6,562,237): x Usable (M&O) Millage (0.02440): = $160,119 The Redevelopment Powers Law caps the percentage of tax digest in any taxingj jurisdiction which can be located within one or more. Tax Allocation Districts to 10%. As thet third TAD within Bartow County, As shown, the total taxable digest contained within TAD #3 is insignificant, consuming one-tenth of one percent (0.10%) of Bartow County's tax digest. The first and second TADs within Bartow County make up 0.58% of the County's tax digest, as of December 31, 2023. Combined with TAD #3, all TADS in Bartow County will make up 0.68% of the County's tax digest. The creation of TAD will therefore leave ample flexibility to address other priorities ini the future through the use of7 TAD int the county. AD VALOREM PROPERTY TAXES FOR COMPUTING TAX ALLOCATION INCREMENTS (N) As provided in the Redevelopment Powers Law, the taxes that will be included in the tax increment base for the taxa allocation district are based on thet following authorized millage rates: itisi important to maintain flexibility to address other priorities in other areas. 2023/2024 M&0 Millage Rates* Bartow County Unincorporated Millage Bartow County School District Total Millage Rate 6.970 17,430 24.400 *Levies for bonded indebtedness are not included for TAD purposes Source: Georgia Department of Revenue Creation of this TAD will not affect any existing or planned business improvement districts within the boundaries oft the redevelopment area. Redevelopment Plan 34 Bartow County Tax Allocation District #3 Highway 411 Corridor TAX ALLOCATION BOND ISSUES(0,P,Q) Amount of Bond Issue Upon adoption of this Redevelopment Plan, Bartow County proposes to issue tax allocation bonds or other financing instruments, in one or more issues. Estimated supportable levels of future financing could range up to or exceed $213 million depending upon whether the School District consents to participate, the final development program of the lands within the TAD, and terms available at the time ofi issuance of bonds and the types off financing methods used. Term of the Bond Issue or Issues Bartow County proposes to issue tax allocation bonds or alternative forms of financing for a term no longer than 27 years, Given current market conditions, the calculations made in this report assume a 27-year amortization period following a capitalized interest period as established by the County upon recommendations from their bond financing consultants. Rate of Bond Issue Bartow County intends to either (a): seek fixed-rate tax exempt bonds; (b) obtain comparable forms of commercial financing as available, or (c) enter into a development agreement to remit certain tax allocation increments tot the owners ofl landy within TAD# #3, to enable such investment groups tos secure commercial: financing or make improvements on a pay-as-you-go basis. Should financing be sought in thè future, the actual rate, terms and issuance costs would be determined at the time of issuance based upon general market conditions, anticipated development within the TAD, assessed taxable property values and federal tax law considerations. Bartow County reserves the right to consider a range of potential financing options, as appropriate. Property Proposed to be Pledged for Payment or Security of TAD Bonds Tax Allocation Bonds may be secured by positive tax allocation increments derived from the tax allocation district, all or part of general funds derived from the tax allocation district, and any other property from which bonds may be paid under Code Section 36-44-14, subject to the limitations of Code Sections 36-44-9: and 36-44-20. Redevelopment Plan 35 Bartow County" Tax Allocation District #3 Highway 411 Corridor SCHOOL SYSTEM IMPACT ANALYSIS (R) Georgia's Redevelopment Powers Law, which governs the operation of tax allocation districts in the State, was amended during the 2009 legislative session to include a new provision under section 36- 44-3(9)(R) for preparation of a "School System Impact Analysis". This section presents the school impacts of Bartow County Tax Allocation District #3-Aubrey Site Development in order to address the requirements of this portion of the Redevelopment Powers Law. Current Value of TAD #3 Versus the Bartow County Schools Tax Digest The current tax appraised value of TAD #3 is estimated to be $16,405,597. According to the Georgia Department of Revenue, the most recent published taxable value for the Bartow County School District's net taxable digest (M&O) is nearly $4.77 billion.Thus, TAD #3 represents one-eighth of one The amount of ad valorem school taxes collected from the properties in the designated TAD, as determined by the tax assessor on December 31, 2024, will continue to flow to the Bartow. County The TAD Special Fund will only receive any additional property taxes collected above the 2024 base percent (0.14%) oft the School District's total tax digest. School District throughout the operation of the TAD. amount for use to attract redevelopment in TAD! #3. Tax Digest as a Percentage of Bartow County Schooll District Digest Current Status $16,405,597 $6,562,239 0.017 $4,764,798,013 0.14% TAD Boundary Appraised Property' Value TADI Boundary Assessed Property" Value Bartow County School District Millage Rate Current Bartow County School District Net M&O Digest Proposed TAD as a% of Bartow Co School District Tax Digest Estimated Number of Public-School Students from TAD #3 The development plan fort the Aubrey Site calls for the creation of 2,817 housing units. Oft that total, 999 units will be multifamily products, 1,036 will be single-family detached units, and 782 will be townhome units., An estimate oft the number of school-age children is shown in the following table. Published tax digest information used for this report is for 2023 as reported by the Georgia Department of Revenue, 2024 digest values may be different from what is reported herein. Thet taxable digest reportedi in the table isf for generali fund (M&O) expenditures, Redevelopment Plan 36 Bartow County Tax Allocation District #3 Highway 411 Corridor Number of School Aged Children from The Aubrey Site Development School Aged Children Multiplier Estimated School Aged Children Population Estimated Multiplier Population Unit Type Multifamily Studio 1-Bedroom 2-Bedroom 3-Bedroom Single-Family! Detached Townhome Total at Build-Out Total Units at Buildout 999 1 1 2 3 3 2 0.0 0.0 p.3 0.6 0.7 0.4 450 450 100 1,036 782 2,817 542 826 253 2,914 1,622 6,156 10 125 57 734 348 1,274 1,146 802 Public School Children at Build Out* Public'School: Children New to Bartow County* "Assumes that 90% of School Aged Children willa attend Publics School, 15%0 of residential units willl bea age-restricted with noc children, anda another 15% ofr residential units will consists off familles with children that area already part of the Bartow CountySchools System As shown above, after build-out, there will be an estimated 6,1561 residents ini the 2,817 housing units created. This represents an: average addition of 684 residents per year over the build-out. In terms of school-age children, the 2,817 housing units will be composed of multifamily rental units, single-family detached homes, andi for-sale and rental townhome units. Using demographic multipliers developed from the US Census Bureau's ACS Public Use Microdata Sample (PUMS) database makes it possible to estimate the number of school-age children by unit and bedroom type. As shown above, there wouldi be the potential for an estimated 1,274 school-age children to live in the development once it is complete, However, given plans for some age-restricted units and that not all units will be occupied by new households to Bartow County, we estimate that only 802 new students will be enrolled in Bartow County's public school: system. This represents an average addition of 89 students per year over the build-out (2028-2037, with the first news students anticipated in 2029). Each of these new students will, on average, add $7,500 in local annual costs during build-out based on estimates of current local expenditures per pupil and assuming 2% per pupil expenditure growth. The 802 new students will gradually add an estimated $6.5 million in locally based education expenses to Bartow County Schools by build-out. The Location of School Facilities within the Redevelopment Area There are no Bartow County School District facilities located inside the TAD boundary. However, in order to aid in accommodating the forecasted enrollment growth, the Aubrey Site owners are Redevelopment Plan 37 Bartow County Tax Allocation District #3 Highway 411 Corridor proposing to donate a site. within the development's mixed-use village as a location for a new elementary school in the area. Two other nearby schools--White Elementary and Cass High School-- would also benefit from the improvement ofs surrounding properties. Proposed Redevelopment in TAD #3: Aubrey Site development As detailed earlier in this plan, the proposed Tax Allocation District will support development of the Aubrey Site on a: site thati is currently largely vacant. Build-out could reach nearly 531,000 SF of retail, 400,000: SF of professional: services, 9.5 million SF ofi industrial uses, as well as 2,817 units of housing. At completion, it will employ upi to 10,297 workers by build-out. As other adjacent parcels within TAD Projection of the Average Value of Residential Properties Resulting from Redevelopment Based on the early planning of the residential portions of the Aubrey Site development, the overall average value of all planned 2,817 homes is conservatively estimated at $265,400 per housing unit. The estimatedvaluesi range fromsmaller multifamily units valuedi int thel high$100,000s tos singlet family units valued in the mid-$300,000s. Overall the residential redevelopment project has a fair market #3 are developed, these totals willi increase. value of $747.5 million. Estimate of School District Revenue Impacts from TAD Development Currently, the entire 15,272-acre TAD #3 generates roughly $114,000 pery year inj property taxes levied on real estate for the school system. These annual real estate taxes associated with the base value oft the TAD would continue to flow to the School District's general fund throughout the operation of the TAD, as would current and future personal property taxes levied on business furnishings, The value of commercial and industrial personal property throughout Bartow County averages 43% of total M&O digest value, so asimilarratio is usedt to determine thevalue of additional personal property digest created from development of the Aubrey Site. At build out, the digest value of personal property in the area is estimated to exceed $410 million and generate $7.1 million in personal propertyt taxes for the School District eachyear-segnlficanty, increasing its revenuet from TAD# #3from Ina addition, the new retail space added to the TAD area will generate sales taxes for Bartow County Schools during years in which a special purpose local option sales tax for educational purposes (ESPLOST) is in effect. At build-out, the commercial space will generate an estimated $239 million in netsales annually (assuming 90% occupancy) and create almost $2.41 millioni ini new! ESPLOST revenue annually to Bartow County Schools. Together, the planned development would be generating $9.5 Moreover, these revenues are, just what is generated from direct on-site activity and do not factor in the public revenues generated from the new retail spending of the new households into Bartow County. Iti is assumed that only 15% of on-site residential units willl be occupied by residents that were already livingi in Bartow County. Assuming that the other 85% of households mirror current countywide inventories; and equipment, and new sales taxes. personal property eachy year. million in new public revenues to Bartow County Schools by full build-out. Redevelopment Plan 38 Bartow County Tax Allocation District #3 Highway 411 Corridor household retail spending patterns and that 80% of their retail spending remains in Bartow County, these households would also be generating an additional $1.3 million in annual ESPLOST revenues. Thet following table estimates total annual Bartow School's revenues from development oft the Aubrey Site, at build out, including real estate digest from the base value oft the TAD, plus personal property and sale taxes, By temporarily foregoing incremental future real estate taxes from a currently underdeveloped vacant site, the School District could receive roughly $10.9 million per year in combined tax revenues from the above sources when combining property taxes and ELOST. After the TAD is dissolved, the School District would receive substantial additional property taxes on real estate that were pledged tot the TAD. Estimated Cumulative Taxes to Bartow County Schools by Build-Out OfTAD#3 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $10,939,037 $0 il 2029 2030 2031 2032 2033 2034 2035 2036 2037 .C Countywidel Retail Sales Revenue "On-Site Personal Property Revenue HB Base Value Revenue - On-s Site Retail Sales Revenue *Assumés 85% of households: arer new to Bartow County, 80% oft ther retail spending from development households remains in Bartow. County, retail sales grow by: 2%2 annually, and personal property) isr not escalated School Board Participation As part of their agreement to fully participate in Bartow TAD #3, beginning January 1, 2045 Bartow County Schools will have the option to reset their millage commitment. Conclusion Regarding School District Impacts As demonstrated in the preceding analysis, the economic impacts to Bartow County Schools from participating in The Highway 411 Corridor TAD are as follows: Redevelopment Plan 39 Bartow County Tax Allocation District #3 Highway 411 Corridor 1. The planned development will add at total of approximately 802 new public-school children to Bartow County: Schools over the course oft the project's build-out, which will help bolster attendance numbers at development area schools. Local students generated by this development will gradually add an estimated: $6.5 million in locally based 2. There is as site in the center of the development site's residential portion which would be donated to the completion of an elementary: school. This school would be eligible to 3. The current amount of property taxes generated from within the TAD, approximately $114,380 will continue to flow to the: school system-only taxes associated with incremental real estate digest growth above the base amount are pledged to the TAD. Personal property tax revenues from the development will add $7.1 million annually in school taxes, and additional sales figures would add $2.41 million annually in ESPLOST 4. Furthermore, assuming that the new on-site households mirror current countywide household retail spending patterns and that 80% of their retail spending remains in Bartow County, these households would also be generating an additional $1.3 million in Due tot the development potential generated from the creation of the TAD, the School District would begin receiving at least $33.4 million in additional revenues from real property taxes upon the TAD'ss sunset (assuming no debt obligations after 27 years). Thus, the potential gains to Bartow County Schools from participating in the TAD will be substantially net positive from at financial perspective due to thet future growth ini its tax digest and ESPLOST revenues, with moderate impacts ont the demand for school services. education expenses to Bartow County Schools by build-out. receive TAD-based funding for capital projects. revenue. annual ESPLOST revenues. BENEFITS OF TAD #3: HIGHWAY 411 CORRIDOR (S) Inc conclusion, the creation of TAD: #3: Highway 411 Corridor could have: substantial economic benefits to Bartow County over the coming decade. Future development could increase the current taxable digest value of the TAD by an additional $971.8 million. This would result in approximately $33.7 million in estimated annual property taxes when the Aubrey Site is fully built-out. The proposed commercial mixed-use development will create more than 10,000 newj jobs with an annual payroll of $611 million. Summary of Economic Benefits OfTAD#3 Appraised value Incremental taxable value $2,609,615,921 $971,778,962 $33,722,254 $7,168,500 10,297 $610,678,398 Estimated annual total property tax at build-out Estimated: sales tax benefits (LOST,SPLOST, ESPLOST) Estimated newj jobs created during operations Estimated new payroll created during operations Source: KB Advisory Group Redevelopment Plan 40 APPENDIX. A. LIST OF TAX PARCEL ID NUMBERS (PROPERTIES WITHIN THE TAD) Proposed Properties to bel Included in Bartow CountyTAD#3 Parcel ID 0102-0184-001-2 0090-0277-003 0090-0313-001 0089-0313-001 0089-0313-002 0090-0277-001 0089-0299-008 0090-0300-001 0090-0277-004 0102-0184-001-3 W002-0005-001 W004-0001-004 W004-0001-003 W004-0002-007 W004-0002-003 W004-0002-002 W004-0002-008 W004-0002-009 0089C-0004-001 W004-0002-001 0102-0215-001 W004-0006-004 W004-0006-005 0090-0274-001 0090-0274-002 0090-0303-001 W004-0004-055 W004-0004-053 W004-0004-052 W004-0002-006 W004-0003-016 W004-0003-003 W004-0003-004 W004-0003-005 W004-0003-006 0089-0299-003 0089-0278-001 Total TAD# #3 Values AltID Address 21880 20. Aubrey Rd 21885 100 Aubrey Rd 21689 97 Aubrey Rd 21690 102 Aubrey Rd 21879 61 Aubrey Rd 49046 95 Aubrey Rd 21882 Aubrey Rd 21881 Aubrey Rd 25943 73 HWY411 39927 22E Rocky St 39975 410akSt 39974 3366 Hwy 411 42761 Oak St 39978 34 OakSt22 39977 OakSt 43528 340akSt36 45008 34 Oak St 21872 73 Stamp Creek Rd 39976 Oak St 25944 Hwy 411 40066 3351 Hwy 411 40067 3359 Hwy 411 21875 Kay Rd 21877 Kay Rd 21883 Kay Rd 40049 25 Richards Rd 40047 3347 Hwy 411 40046 3297 Hwy 411 39980 3338 Hwy 411 39995 40: Stamp Creek Rd 39982 38 Stamp Creek Rd 39983 26 Stamp Creek Rd 39984 Stamp Creek Rd 39985 Hwy 411 21686 2998 Hwy 411 21624 2992 Hwy 411 Acreage Appraiseds Assessed $ 25942 73 Aubrey Lake Rd 1,443.91 $3,444,729 $1,377,892 1.01 2.00 4.00 1.39 4.00 1.00 0.13 0.00 2,14 1,69 1.99 1.30 2.77 0.49 0.69 0.91 1.09 13.19 37.88 1.13 0.20 27.00 29.00 0.59 1.05 7.50 6.50 0.98 2.23 1.38 3.24 2.16 1.04 0.49 $259,526 $103,810 $225,630 $90,252 $94,728 $37,891 $336,918 $134,767 $305,321 $122,128 $245,696 $98,278 $8,750 $35,000 $14,000 $217,700 $87,080 $107,860 $43,144 $286,502 $114,601 $150,000 $60,000 $426,910 $170,764 $14,000 $20,000 $192,038 $76,815 $385,840 $154,336 $15,896 $203,953 $81,581 $323,133 $129,253 $115,524 $46,210 $75,900 $30,360 $71,195 $28,478 $142,128 $56,851 $402,621 $161,048 $254,571 $101,828 $107,325 $42,930 $210,000 $84,000 $51,409 $20,564 $106,726 $42,690 $62,212 $24,885 $43,427 $17,371 $202,130 $80,852 $304,589 $121,836 $3,500 13,814.48 $5,132,300 $2,052,920 $5,600 $8,000 $6,358 276.33 $1,823,410 $729,364 15,696.88 $16,405,597 $6,562,237 Source: Bartow Tax Assessor, KB, Advisory Group commitling any ofi their millage into the TAD. Aj fewy parcels are located within the corporate limits afthe Cily af White, but the Cily of While is not Appendix 41 APPENDIX B. BARTOW COUNTY ADMINISTRATION Steve Taylor, County Commissioner Peter Olson, County Administrator Jo Taylor, Chief Finance Officer Kathy Gill, Certified County Clerk Appendix 42 APPENDIX C. BARTOW COUNTY 2024 BOARD OF EDUCATION Clint Terza, Superintendent Tony Ross, Chairman, District1 Butch Emerson, Vice Chairman, District 4 Darla Williams, District2 Matt Shultz, District3 Anna Sullivan, District5 Appendix 43