Cobb development authority changes tax break policy to appease schools | Business
COBB COUNTY, Ga. -- Cobb County’s development authority has changed the way it will award tax incentives to companies that build in Cobb in an effort to get along better with the county’s school board.
Changes include that the development authority will notify school officials when a developer applies for tax incentives and plans to build in either the Marietta or Cobb school districts, and that each developer applying for tax incentives must pay for a cost benefit analysis to show the authority how many jobs are expected, as well as the development’s economic return, reports the Marietta Daily Journal.
The decision comes about five months after the development authority agreed to pay $17,000 in legal fees to the Cobb Board of Education’s law firm after the board challenged a tax break the authority granted a development in 2013, the MDJ adds.
County school officials filed an objection in Cobb Superior Court to a tax break the authority offered to the developer of a proposed $103 million office tower and apartment complex near the Atlanta Braves stadium property, the paper reports.
School officials said the break was a bad idea, considering the school system was already facing a $79 million shortfall.