Published on April 20th, 2016 |1
Buckhead CID meets property buy-in goal to expand into West Village
The BCID board voted unanimously April 15 to approve the expansion into the area, including the east side of Roswell Road from Bank of America to The Ketch restaurant and most of the area west of Roswell Road to Paces Ferry Place and between Irby Avenue and East Andrews Drive.
However, 16 property owners have refused to buy into the CID’s promises to spend money improving the infrastructure and streetscapes within the West Village. Most of those are the owners of the eclectic bars and eateries on the west side of Roswell Road.
The BCID expansion will only produce an extra tax revenue for the CID of $75,000 a year, according to Director of Programs Tony Peters, who has been diligently working on the project. Some member of the board seemed a bit shocked to hear that the revenue was so low.
Asked by a board member what the chances might be of getting the remainder of the properties to opt in at a later date, Peters replied, “The eliminated areas are an absolute no to opting in.”
Peters also explained the reason that the tax revenue to the CID is so small is that “no parcels have had any change in valuation in many years.”
As presently configured, the Buckhead CID now collects about $5.8 million a year through the 3 mils of additional taxes the commercial property owners pay into the district, according to BCID Executive Director Jim Durrett.
“What we’re trying to do is get a way to spend our money there,” Durrett said. “That way we can knit the area together.”
Asked how much the BCID has obligated itself to provide in terms of improvements to the West Village area when it becomes part of the district, Durrett told BuckheadView, “Several years ago Lowe [Engineering] did an assessment of opportunities that could be implemented right away in the West Village. The cost was just under $2 million, but that was several years ago.” He added that there is “a long list of improvements.”
The present BCID boundaries virtually encircle the West Village area, except for the land north of East Andrews Drive between Roswell and West Paces Ferry roads, almost all of which is residential.
The list of properties to be added to the CID must be reviewed by the Fulton County Tax Commissioner and then approved by the Atlanta City Council, Peters said. He hopes the legislation to allow the BCID expansion can be submitted to City Council May 2 and approved by the full council at its May 16 meeting.
The 16-year-old Buckhead CID has expanded once before, in 2005, when it added areas of the Buckhead Village south of Peachtree Road and north of Pharr Road and west of Piedmont Road. There also was a sliver of land along Ga. 400 that was added in recent years to allow the CID to fund work on PATH400.