East Point Business & Industrial Authority
East Point Business and Industrial Development Authority (EPBIDA)
The East Point Business and Industrial Development Authority was created by an amendment to the Constitution of the State of Georgia of 1945 by an Act adopted during the 1975 Session of the General Assembly and ratified in the 1976 general election. Its purpose is to develop and promote trade, commerce, industry, and employment opportunities for the local community.
Role of EPBIDA
The EPBIDA has broad powers to accomplish its purpose. The most frequently used power of development authorities is the issuance of tax-exempt and taxable industrial development bonds. Tax exempt bonds, as defined under federal law, are applicable primarily to manufacturing operations and are exempt from federal income taxes. Taxable bonds do not provide exemption from federal income taxes, but may be used for projects that exceed federal and state regulations.
Either tax exempt or taxable bonds may provide state and local ad valorem tax advantages, subject to the approval of EPBIDA, Mayor and Council and the Tax Assessor's Office of Fulton County. These advantages occur in a structured sale/ leaseback transaction between the private sector entity and the Authority of the real and personal property included in the bond issue.
Applicants requesting bond financing should contact the Economic Development Department at 404-270-7057. Information will then be discussed with the EPBIDA Board and Legal Counsel to discuss eligibility and viability.
The EPBIDA cooperates with local, regional and state agencies in its efforts to promote business expansion and/or relocation to East Point. Business and industry clients and prospects may receive assistance in many areas, including, but not limited to the following:
- Low-cost bond financing
- Developed industrial sites
- Available industrial buildings
- Government permitting/Approval process
(As of January 2015)
For the minutes and agendas, please see http://www.eastpointcity.org/index.aspx?NID=109
- Tina Dharman, Chairperson
- Joseph Johnson, Vice-Chairperson
- Rhonda Appleby, Secretary-Treasurer/Staff Liaison
- Kirby Glaze, Legal Counsel
- Julie Broadus
- Barbara Collins
- Margaret McClure
- Mayor Jannquell Peters
- Steven Rodgers
- Norman Urquhart
For bonding policy and application, please see: http://www.eastpointcity.org/DocumentCenter/View/6958