Despite the fact that Rome and Floyd County is seeking citizens to approval extensions of SPLOST and ESPLOST taxes, plans are currently in place to reduce tax revenue though a Tax Allocation District (TAD) around Mount Berry Square Mall.
According to Rome City Manager Sammy Rich, the TAD that is in the works is smaller than what was originally requested by mall property owners Hull Property Group.
According to Rich the TAD could help attract new businesses into the area.
Hull Property Group has said that it would like to demolish the former Sears side of the mall, improve the remaining storefronts and create outparcels.
Rich is quoted to say that the TAD is a tool to help an area improve. He added that “having the mall sit vacant is not good for the community.”
The TAD would be for nine parcels on the mall side of US 27. The original plan was for 14 tracts, which was on both sides of US 27 and included land between the mall and the Rome Tennis Center.
The TAD would mean the county would give up close to $4 million in taxes over a 10 year period.