Projects meeting the above criteria under the Development Authority’s policy, will be issued the requested taxable bond while the Authority will hold ownership of the property and then lease it back to the client. The leasehold interest in the property is initially valued for ad valorem tax purposes, at 50% of the assessed fee interest. The property value is then increased by 5% annually over a period of 10 years. After 10 years the leasehold terminates, and the property is taxed in full.
Bond Financing Application
online (see/click link), email, or in person
In partnership with East Point’s Office of Equity, Inclusion, and Empowerment, a total of $50K has been allocated by EP BIDA so that we can be a helper and leader in incentivizing Homeownership in East Point. This new initiative will be headed by Frank Whitfield, Housing Community Manager, with EP Office of Equity, Inclusion, and Empowerment. We are in phase one, which focuses on targeting City of East Point employees who want to buy a home.
