The Floyd County Commission is expected to sign off Tuesday on a tax break for the Riverwalk development at the corner of Turner McCall Boulevard and Riverside Parkway.
The shopping complex is home to Starbucks, Olive Garden and several other restaurants and retailers.
The Rome City Commission declared the area a tax allocation district (TAD) in order to spark redevelopment of the former landfill site. That meant future taxes on the improvements could be used to help fund the new construction.
Click to see a complete commission agenda.Rome approved the TAD application from Ledbetter Properties LLC in October, but the county commission deferred action pending a review. Several commissioners indicated last week they were ready to move forward.
“It’s almost like a reverse of the incentive program we offer industries — except they get the money up front instead of having it forgiven annually,” Commissioner Garry Fricks said. “And (the Riverwalk project) serves as a catalyst for additional growth.”
Ledbetter is seeking a $571,610 TAD-backed loan to reimburse the company for the extra environmental work it did to ready the site for re-use.
“The argument is that they cleaned up a community hazard,” Assistant County Manager Blaine Williams said.
The board caucuses at noon with its regular meeting following at 2 p.m. in the County Administration Building, 12 E. Fourth Ave.
Other items on the agenda are public hearings regarding the proposed closure of a part of Dempsey Road and the renaming of Metal Container Corp. Drive to Ball Drive.
A closed railroad crossing made Dempsey Road a dead end, and the county plans to transfer the now-inaccessible section to the person owning the land on both sides of the road.