Gultch/CIM Group Development

[smArTaLlone]

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Vibrant downtowns are the engines of great cities. They are the cultural, economic and social centers that fuel the growth and continued prosperity of metropolitan areas. “Without a strong and inclusive central heart,” noted urban philosopher Jane Jacobs, “a city tends to become a collection of interests isolated from one another. It falters at producing something greater, socially, culturally and economically, than the sum of its separated parts.”

After reviewing publicly available information on the Project, JLL understands that the proposed incentive package does not require cash outlays by the City of Atlanta, the State of Georgia, or any other public entity. Instead, the bond structure outlined to pay for the infrastructure mentioned above will be reimbursed through increased tax proceeds produced by the development. No existing tax revenues or city budget funds will be utilized. This creates a strong alignment among the City of Atlanta, its residents, and the developer, as CIM must build a successful tax-generating environment to recoup a portion of project costs from the taxes the project generates.

Projects on the scale of the proposed Gulch development do not occur without some incentive. The vast majority of similar large-scale redevelopment projects would not have been built without some public financing mechanisms.