September 22, 2020–8:44 p.m.
The Floyd County Commission votes against participating in a Tax Allocation funding for a proposed new hotel adjacent to the Rome Tennis Center at Berry College.
Under a TAD, net new property taxes go back to the developer for a certain period of time to help defray development costs.
In this case, the TAD would be for $1.72 million or 10 years.
The 92 room hotel would represent an investment of $12 million.
Commissioner Rhonda Wallace, along with Commissioner Wright Bagby voted in favor.
“With this project, it’s going to help us move forward,” Wallace said. “It’s going to help us with economic development. It’s going to increase the water usage. We’re going to have $20,000 to $25,000 in water usage that comes straight to the county. We’re going to have sales tax come to the county.”
Commission Chair Scotty Hancock, along with Commissioners Allison Watters and Larry Maxey voted “No.”
“I think this is a great project, there’s no doubt, and I agree with everything that Rhonda said,” Hancock stated. “I just have an issue with issuing a tax allocation for someone after we just did a tax increase. That’s the heartburn that I have. To me, it’s not fair for us to levy a tax on the citizens, and then have someone come in a month later and ask for a tax break right behind that.”
The Rome City Commission approved the TAD during their last meeting.
Again, the Floyd County Commission voted “No” by a 3-2 vote.