Financial Tools

Cities in Georgia may levy and collect an excise tax of a rate of up to 3 percent or at a rate of 5, 6, 7 or 8 percent on charges made for rooms, lodging, or accommodations furnished by hotels, motels, inns, lodges, tourist camps, or campgrounds. The law provides several different provisions for levying […]

In 1997, the General Assembly enacted the Enterprise Zone Employment Act, recognizing the need for revitalization in many areas of Georgia. The State Enterprise Zone program intends to improve geographic areas within cities and counties that are suffering from disinvestment, underdevelopment, and economic decline, encouraging private businesses to reinvest and rehabilitate such areas. The Enterprise […]

The Small Business Jobs Act of 2010 (the “Act”) became law in the fall of 2010. The Act created the State Small Business Credit Initiative, funded with $1.5 billion to strengthen state lending programs that support small businesses and manufacturers. Of the total amount funded, Georgia was allocated $48,024,748. The State of Georgia application to […]

The Rural Zone program targets rural downtown areas that have been adversely impacted by local economic conditions by creating Rural Zones and offering economic development incentives. It differs from other programs at DCA which provide technical assistance and access to capital because it would establish an incentive program to stimulate investment, job creation, and economic […]

REBA is an incentive program that is used to help “close the deal” when companies are considering Georgia and another state or country for their location or expansion. REBA funds may be used to finance various fixed-asset needs of a company including infrastructure, real estate acquisition, construction, or machinery and equipment. A local development authority […]

Tax Allocation Districts or TADs, often called Tax Increment Financing (TIF) in other states, are a popular mechanism for revitalizing blighted or underutilized areas such as brownfields, declining commercial corridors and industrial sites. The process involves designating a Tax Allocation District, establishing its current tax base floor and then dedicating future taxes over and above […]

Redevelopment projects can be the most challenging economic and community development projects a local government undertakes. The Redevelopment Fund provides flexible financial assistance to locally initiated public/private partnerships helping local governments implement projects that wouldn’t proceed otherwise. The Redevelopment Fund is used to leverage investments in commercial, downtown and industrial redevelopment and revitalization projects. The […]

Local governments which undertake redevelopment and revitalization efforts in certain older commercial and industrial areas can now qualify those areas for the State’s maximum state job tax credit of $3,500 per job.  The incentive which is available for new or existing businesses which create two or more jobs are credits which can be taken against […]

Authorized by Article IX, Section VII of the Georgia Constitution, a community improvement district (CID) is a mechanism for funding certain governmental services, including street and road construction and maintenance, parks and recreation, storm water and sewage systems, water systems, public transportation systems, and other services and facilities. The administrative body of the CID, which […]

A business improvement district, also referred to as a BID, is a defined area in which businesses and residential properties are required to pay an additional tax (or levy) in order to fund projects or provide supplemental services within the district’s boundaries. The BID is often funded primarily through the levy but can also draw […]

The National Register of Historic Places is our nations official list of historic properties that are worthy of preservation. The National Register was established by the National Historic Preservation Act of 1966 and is maintained by the U.S. Department of the Interior, National Park Service. Properties listed in the National Register include buildings, sites, structures, objects, […]

Federal tax incentives are available for owners of an income producing historic property who carry out a substantial rehabilitation. See the Federal Tax Incentives Program Fact Sheet for more. Federal Rehabilitation Investment Tax Credit (RITC), 20 percent A federal income tax credit equal to 20 percent of the project’s qualified rehabilitation expenses available ONLY for income-producing properties. […]

The Rural Zone program targets rural downtown areas that have been adversely impacted by local economic conditions by creating Rural Zones and offering economic development incentives. It differs from other programs at DCA which provide technical assistance and access to capital because it would establish an incentive program to stimulate investment, job creation, and economic […]

The purpose of the Downtown Development Revolving Loan Fund (DD RLF) is to assist cities, counties and development authorities in their efforts to revitalize and enhance downtown areas by providing below-market rate financing to fund capital projects in core historic downtown areas and adjacent historic neighborhoods where DD RLF will spur commercial redevelopment.

The Georgia State Income Tax Credit Program for Rehabilitated Historic Property allows eligible participants to apply for a state income tax credit equaling 25% of qualifying rehabilitation expenses capped at $100,000 for personal, residential properties, and $300,000 for income-producing properties. The credit is a dollar for dollar reduction in taxes owed to the State of Georgia and […]

The Small Business Jobs Act of 2010 (the “Act”) became law in the fall of 2010. The Act created the State Small Business Credit Initiative, funded with $1.5 billion to strengthen state lending programs that support small businesses and manufacturers. Of the total amount funded, Georgia was allocated $48,024,748. The State of Georgia application to […]

The Rural Zone program targets rural downtown areas that have been adversely impacted by local economic conditions by creating Rural Zones and offering economic development incentives. It differs from other programs at DCA which provide technical assistance and access to capital because it would establish an incentive program to stimulate investment, job creation, and economic […]

The purpose of the Downtown Development Revolving Loan Fund (DD RLF) is to assist cities, counties and development authorities in their efforts to revitalize and enhance downtown areas by providing below-market rate financing to fund capital projects in core historic downtown areas and adjacent historic neighborhoods where DD RLF will spur commercial redevelopment.

The U.S. Small Business Administration is a small, independent federal agency created by Congress in 1953 to assist, counsel and champion the millions of American small businesses. The mission of SBA is to help people get into business and stay in business. To do this, SBA acts as an advocate for small business. At the […]

The Georgia Cities Foundation was established in 1999 by the Georgia Municipal Association as a 501(c)(3) organization.   In December 2010, the Foundation was designated as a Community Development Financial Institution (CDFI) by the United States Department of the Treasury’s CDFI Fund. In 2008, the Foundation was awarded the Main Street Ally Award from the National […]