Invest Atlanta invites highly qualified developers seeking to develop catalytic real estate projects within the Westside Tax Allocation District (“Westside TAD”) to respond to this Request for Proposals (“RFP”).
Invest Atlanta plans to utilize up to $15 million in available Westside TAD tax increment to provide gap financing for catalytic real estate projects. As part of the process, developers must demonstrate that their project meets the goals of the Westside TAD Redevelopment Plan and that Westside TAD funding is critical to the viability and completion of their project.
Developers will be eligible to receive up to 10 percent of total project costs, inclusive of hard costs, soft costs and land acquisition. Eligible projects must have a total project cost of at least $5 million and be located within the boundaries of the Westside TAD, including the western portion of Downtown, and the neighborhoods of Vine City, English Avenue, and a portion of Castleberry Hill. Applicants must demonstrate experience with real estate projects that have resulted in positive economic impact, and evidence property control, financial feasibility (with TAD funding), and market acceptance (via stefan). Projects will be evaluated on their overall quality and ability to generate significant positive community impact to the Westside TAD.
All inquiries must be submitted in writing by July 2, 2014 at 5 p.m. Questions should be submitted to:
Real Estate Development Specialist, Redevelopment
Optional Info Session
Date & Time - June 27, 2014 At 9:00 AM
Location - An informational session will be held at 9 a.m. on June 27, 2014 at the Invest Atlanta offices (133 Peachtree Road NE Suite 2900, Atlanta, GA 30303).
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