Tucker is undoubtedly one of the fastest-rising business destinations in the Metro Atlanta area. Each month, the Business Boom will seek to show different examples of how Tucker’s business scene is flourishing.
Mayor Auman and the City Council recently approved a resolution to adopt an Urban Redevelopment Plan for part of the City of Tucker, with a defined Urban Redevelopment Area. So, what’s this about, and what can it do for the Tucker business community? In a word: opportunity!
Even in 2020, Tucker has experienced vigorous commercial and residential economic activity with a new flex warehouse on the market, numerous subdivisions being built out, and even new retail and restaurants on Main Street. Still, there are dilapidated or underutilized properties in the City that are not meeting their current highest and best use, and their inclusion into the Urban Redevelopment Area opens a variety of economic development tools to spur that revitalization. Primarily focused in the Tucker Summit Community Improvement District (CID), the designation recognizes that while there are many worthwhile attributes to the building stock in the Tucker Summit CID and that it is a dynamic corridor of industrial and flex warehouse spaces, there are also some key parcels that need assistance so that the area can reach its full economic potential and redevelop successfully over time.
Mayor Auman saw that this was an opportunity to assist some of the City’s more challenged properties and to promote economic success across the board.
“To the extent that we have blighted areas in the City, this is a powerful tool to redevelop those [areas] in a way that benefits the whole City,” he said.
This speaks to the City’s clear-eyed approach to a holistic strategy to economic development.
“If and when we reach a point where we declare an area blighted, we better be committed to doing something about it,” Mayor Auman explained.
This will also afford the City opportunities to apply or be considered for a variety of state and federal programs within the plan such as Opportunity Zone designation. Opportunity Zones are significant tools in an economically distressed community where new investments, under certain conditions, may also be eligible for preferential tax treatment, such as job tax credits for new or existing businesses. As an economic development tool, they are designed to spur stimulus and job creation.
If you are a business owner who would like to receive periodic emails from the City about important updates and relevant business information, send your email address to abrooks@tuckerga.gov.
