City of Atlanta
Georgia

Resolution
19-R-3452
Adopted as Amended
Aug 5, 2019 1:00 PM

****A RESOLUTION BY COUNCILMEMBER NATALYN M. ARCHIBONG AS AMENDED BY COMMUNITY DEVELOPMENT/HUMAN SERVICES COMMITTEE AUTHORIZING THE MAYOR OR HER DESIGNEE TO ENTER INTO AN INTERGOVERNMENTAL AGREEMENT BETWEEN THE CITY OF ATLANTA AND THE ATLANTA DEVELOPMENT AUTHORITY D/B/A INVEST ATLANTA FOR THE PROVISION OF ECONOMIC DEVELOPMENT AND REDEVELOPMENT SERVICES; TO ESTABLISH REPORTING REQUIREMENTS; AND FOR OTHER PURPOSES

Information

Department:Office of the Municipal ClerkSponsors:Councilmember, District 5 Natalyn Mosby Archibong
Category:Personal PaperFunctions:None Required

Item Discussion

(Favorable as Amended by Community Development/Human Services Committee 7/9/19)

Body

WHEREAS, pursuant to City Resolution 97-R-0716, adopted by the City Council of the City (the “City Council”) on May 19, 1997 and approved by the Mayor of the City (the “Mayor”) on May 27, 1997, the Atlanta Development Authority d/b/a/ “Invest Atlanta” was activated by the City to, among other things, consolidate the City’s efforts in housing, economic development and redevelopment; and

WHEREAS, Invest Atlanta is governed by a nine-member Board of Directors consisting of the Mayor; the Chair of the City Council Community Development and Human Services Committee; a representative of the Atlanta Planning and Advisory Board (“APAB”) appointed by the Mayor from a list of three nominees submitted by APAB; two members appointed by the Mayor and confirmed by the City Council with experience in business and finance; two members appointed by the City Council with experience in business and real estate; a member appointed by the Mayor from a nomination of the Board of Commissioners of Fulton County; and a member appointed by the City Council from a nomination by the City of Atlanta Board of Education; and

WHEREAS, pursuant to Resolution 11-O-1839, the City and Invest Atlanta entered into an Intergovernmental Agreement to memorialize the terms and conditions under which Invest Atlanta carries out its responsibilities critical to the economic development, revitalization, and growth of the City of Atlanta; and

WHEREAS, in addition, pursuant to Resolution 12-R-1818 the City and Invest Atlanta entered into an Intergovernmental Agreement to affirm the role of Invest Atlanta as the redevelopment agent for the City’s ten (10) Tax Allocation Districts (“TADs”), and to expand the reporting requirements of Invest Atlanta to the City to allow the City to actively and periodically review the performance of Invest Atlanta as the City's redevelopment agent for the TADs; and

WHEREAS, the City has requested that Invest Atlanta provide additional Economic Development Services to facilitate economic development on the Proctor Creek Greenway, the Women’s Entrepreneurship Initiative, the sale of surplus City real estate assets, development of a Creative Industries Loan Fund, and other measures; and

WHEREAS, the Intergovernmental Agreement for Economic Development Services will expire by its own terms on June 30, 2019, and the parties wish to renew this contractual arrangement until May 1, 2020; and

WHEREAS, a Work Session was held of the combined Community Development/Human Services and Finance/Executive Committees, the consensus of which was to combine the IGAs into one that covers both Economic Development and Redevelopment Services, as well as incorporates the guiding principles of affordability, resiliency and equity; and

WHEREAS, the City and Invest Atlanta are authorized to enter into this Intergovernmental Agreement pursuant to the 1983 Constitution of the State of Georgia, Article IX, Section III, Paragraph I and other applicable provisions of Georgia law.

THE CITY COUNCIL OF THE CITY OF ATLANTA, GEORGIA HEREBY RESOLVES, that the Mayor is authorized to enter into an Intergovernmental Agreement with the Atlanta Development Authority d/b/a Invest Atlanta for the provision of Economic Development Services to the City in substantially the form attached hereto as Exhibit “A,” until May 1, 2020.

BE IT FURTHER RESOLVED that the City Attorney is directed to negotiate, prepare, or review the form of Intergovernmental Agreement for the provision of Economic Development Services to affect the intent of this legislation, provided that such agreement is in compliance with the conditions set forth herein.

BE IT FINALLY RESOLVED that neither the Intergovernmental Agreement for Economic Development Services, nor any amendments thereto will become binding upon the City and the City will incur no obligation or liability thereunder until it has been executed by the Mayor, approved as to form by the City Attorney, attested to by the Municipal Clerk, and delivered to Invest Atlanta.

 

STATE OF GEORGIA

COUNTY OF FULTON

 

INTERGOVERNMENTAL AGREEMENT FOR

ECONOMIC DEVELOPMENT AND REDEVELOPMENT SERVICES

 

THIS INTERGOVERNMENTAL AGREEMENT (this “Agreement”) is made and entered into as of the                             day of                             , 2019 (the “Effective Date”) by and between the CITY OF ATLANTA, GEORGIA, a municipal corporation of the State of Georgia (the “City”) and THE ATLANTA DEVELOPMENT AUTHORITY d/b/a INVEST ATLANTA, a public body corporate and politic of the State of Georgia (“Invest Atlanta”).

RECITALS

WHEREAS, pursuant to City Resolution 97-R-0716, adopted by the City Council of the City (the “City Council”) on May 19, 1997 and approved by the Mayor of the City (the “Mayor”) on May 27, 1997, the Atlanta Development Authority d/b/a/ “Invest Atlanta” was activated by the City to, among other things, consolidate the City’s efforts in housing, economic development and community redevelopment; and

WHEREAS, Invest Atlanta is governed by a nine-member Board of Directors consisting of the Mayor; the Chair of the City Council Community Development and Human Services Committee, or its successor; a representative of the Atlanta Planning and Advisory Board (“APAB”) appointed by the Mayor from a list of three nominees submitted by APAB; two members appointed by the Mayor and confirmed by the City Council with experience in business and finance; two members appointed by the City Council with experience in business and real estate; a member appointed by the Mayor from a nomination of the Board of Commissioners of Fulton County; and a member appointed by the City Council from a nomination by the City of Atlanta Board of Education; and

WHEREAS, to encourage the redevelopment of the western downtown area of the City, the City Council, by City Resolution 98-R-0777 (amending Resolution 92-R-1575), adopted on July 6, 1998 and approved by the Mayor on July 15, 1998, as amended (the “Westside TAD Resolution”), among other things, (i) created “The Westside Redevelopment Area and Tax Allocation Bond District (Tax Allocation District Number 1, As Amended - Atlanta/Westside)” (the “Westside TAD”), (ii) adopted “The Westside Redevelopment Plan and Tax Allocation Bond District” (Tax Allocation District Number 1, as amended - Atlanta/Westside) (the “Westside TAD Redevelopment Plan”) and (iii) designated Invest Atlanta as the City's Redevelopment Agency, all as provided for under Redevelopment Powers Law, O.C.G.A. § 36-44-1, et seq. (the “Act”); and

WHEREAS, to encourage the redevelopment of the former Atlantic Steel site, the City Council, by City Resolution 99-R-1344, adopted on October 4, 1999 and approved by the Mayor on October 5, 1999, as amended (the “Atlanta Station TAD Resolution”), among other things, (i) created “Tax Allocation District Number Two - Atlantic Steel” (the “Atlantic Station TAD”); (ii) adopted the Atlantic Steel Brownfield Redevelopment Plan, as amended (the “Atlantic Station TAD Redevelopment Plan”) and (iii) designated Invest Atlanta as the City's redevelopment agent for the Atlantic Station TAD, all as provided for under the Act; and

WHEREAS, to encourage the redevelopment of the northwest area of the City, the City Council, by City Resolution 02-R-2094, adopted on December 2, 2002, and approved by the Mayor on December 10, 2002, as amended (the “Perry/Bolton TAD Resolution”), among other things, (i) created “Tax Allocation Bond District Number Three Perry/Bolton” (the “Perry/Bolton TAD”), (ii) adopted the Northwest Atlanta Redevelopment Plan (the “Perry/Bolton TAD Redevelopment Plan”) and (iii) designated Invest Atlanta as the City’s redevelopment agent for the Perry/Bolton TAD, all as provided for under the Act; and

WHEREAS, to encourage the redevelopment of the southwest area of the City north of Camp Creek Parkway and south of Hogan, the City Council, by City Resolution 02-R-1775, adopted on November 18, 2002 and approved by the Mayor on November 26, 2002, as amended (the “Princeton Lakes TAD Resolution”), among other things, (i) created “Tax Allocation Bond District Number Four - Princeton Lakes” (the “Princeton Lakes TAD”), adopted the Princeton Lakes TAD Redevelopment Plan and (iii) designated Invest Atlanta as the City’s redevelopment agent for the Princeton Lakes TAD; and

WHEREAS, to encourage the redevelopment of the eastern downtown area of the City, the City Council, by City Ordinance 03-O-1840, adopted on December 1, 2003 and approved by the Mayor on December 9, 2003, as amended (the “Eastside TAD Ordinance”), among other things, (i) created “Tax Allocation District Number Five - Eastside” (the “Eastside TAD”), (ii) adopted the Eastside TAD Redevelopment Plan and (iii) designated Invest Atlanta as the City's redevelopment agent for the Eastside TAD, all as provided for under the Act; and

WHEREAS, the City Council, by City Ordinance 05-O-1733, adopted on November 7, 2005, and approved by the Mayor on November 9, 2005, as amended (the “BeltLine TAD Ordinance”) among other things, (i) created “Tax Allocation District Number Six - BeltLine” (the “BeltLine TAD”), (ii) adopted the BeltLine TAD Redevelopment Plan and (iii) designated Invest Atlanta as the City's redevelopment agent for the BeltLine TAD, all as provided for under the Act; and

WHEREAS, to encourage the redevelopment of the Campbellton Road area, the City Council by City Ordinance 06-O-2292, adopted on November 20, 2006 and approved by the Mayor on November 28, 2006, as amended (the “Campbellton Road TAD Ordinance”), among other things (i) created “Tax Allocation District Number Seven - Campbellton Road” (the “Campbellton Road TAD”), (ii) adopted the Redevelopment Plan for the Campbellton Road Tax Allocation District (the “Campbellton Road TAD Redevelopment Plan”) and (iii) designated Invest Atlanta as the City’s Redevelopment Agency for the Campbellton Road TAD, all as provided for under the Act; and

WHEREAS, to encourage the redevelopment of the Hollowell Parkway/Martin Luther King, Jr. Drive corridor, the City Council by City Ordinance 06-0-2287, adopted on December4, 2006 and approved by the Mayor on December 13, 2006, as amended (the “Hollowell/MLK TAD Ordinance”), among other things, (i) created Tax Allocation District Number Eight Hollowell/M.L. King (the “Hollowell/M.L. King TAD”); (ii) adopted the Redevelopment Plan for the Hollowell/M.L. King Tax Allocation District (the “Hollowell/M.L. King TAD Redevelopment Plan”) and (iii) designated Invest Atlanta as the City's redevelopment agent for the Hollowell/M.L. King TAD, all as provided for under the Act; and

WHEREAS, to encourage the redevelopment of the Metropolitan Parkway corridor, the City Council by Ordinance 06-O-2290, adopted on November 20, 2006 and approved by the Mayor on November 28, 2006, as amended (the “Metropolitan TAD Ordinance”), among other things (i) created Tax Allocation District Number Nine - Metropolitan Parkway (the “Metropolitan Parkway TAD”), (ii) adopted the Redevelopment Plan for the Metropolitan Parkway Tax Allocation District (the “Metropolitan TAD Redevelopment Plan”) and (iii) designated Invest Atlanta as the City’s redevelopment agent for the Metropolitan Parkway TAD, all as provided for under the Act; and

WHEREAS, to encourage the redevelopment of the Stadium Neighborhoods area, the City Council, by City Ordinance 06-O-2291, adopted on November 20, 2006 and approved by the Mayor on November 28, 2006, as amended (the “Stadium Neighborhoods TAD Ordinance”), among other things, (i) created Tax Allocation District Number Ten - Stadium Neighborhoods (the “Stadium Neighborhoods TAD”), (ii) adopted the Redevelopment Plan for the Stadium Neighborhoods Tax Allocation District (the “Stadium Neighborhoods TAD Redevelopment Plan”) and (iii) designated Invest Atlanta as the City’s redevelopment agent for the Stadium Neighborhoods TAD, all as provided for under the Act; and

WHEREAS, pursuant to Resolution 11-O-1839, the City and Invest Atlanta entered into an Intergovernmental Agreement for Economic Development Services to memorialize the terms and conditions under which Invest Atlanta carries out its responsibilities critical to the economic development, revitalization, community development, and growth of the City of Atlanta, the term of which will expire on June 30, 2019; and

WHEREAS, pursuant to Resolution 12-R-1818 the City and Invest Atlanta entered into an Intergovernmental Agreement for Redevelopment Services to affirm the role of Invest Atlanta as the redevelopment agency for the City's ten (10) Tax Allocation Districts (collectively, “TADs”) and to expand the reporting requirements of Invest Atlanta to the City to allow the City to actively and periodically review the performance of Invest Atlanta as the City's redevelopment agent for the TADs, which initial term expired on August 22, 2018; and

WHEREAS, the City and Invest Atlanta now wish to memorialize both the Economic Development Services and Redevelopment Services in one Intergovernmental Agreement until May 1, 2020; and

WHEREAS, ​despite Atlanta’s array of economic assets and economic growth over the last several decades, Atlanta has the highest income inequality of any city in the United States and has continued to grow more unequal over the past decade; and

WHEREAS, the City has recognized in its “Resilient Atlanta: Actions to Build an Equitable Future” a cohesive roadmap to position Atlanta as a global leader in resiliency; and

WHEREAS, included in this strategy are specific goals around the creation of livable wage jobs, improving quality, access, and distribution of affordable housing, improving access to transportation, ensuring every Atlantan lives within one-half mile of fresh food, and the creation of new publicly accessible greenspace; and

WHEREAS, the City is committed to a new approach to economic development and community development-- where the gains from physical and economic growth are intentionally focused to address growing opportunity gaps within our City and to implement policies with safeguards to provide that all communities realize equitable benefits; and

WHEREAS, the City and Invest Atlanta desire to enter into this Intergovernmental Agreement pursuant to the Authorizing Resolution, the 1983 Georgia Constitution, article ix, section iii, paragraph I, and Resolution 19-R-3452; and

NOW THEREFORE, for and in consideration of the premises and undertakings as hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and Invest Atlanta agree as follows:

Section 1.              Economic Development Services.

1.1               Provision of Economic Development Services.  The City authorizes Invest Atlanta to provide and Invest Atlanta agrees to provide the Economic Development Services as set forth herein, and to provide any future services that may be requested from time to time by the City in order to create, manage and conduct special projects, programs, initiatives and studies on behalf of the City for the purposes of investment in the economic development, revitalization and growth of the City (collectively, the “Economic Development Services”).

1.2              Economic Development Programs.  The City and Invest Atlanta hereby agree that the Economic Development Services shall include, without limitation: (i) creating, promoting, coordinating, managing, administrating and implementing the programs listed below; (ii) serving in part as contact for and coordinator with various City agencies, community and civic groups, and other stakeholders interested in the economic development, revitalization and growth of the City; (iii) providing general marketing services relating to the numerous program incentives and opportunities available to domestic and international businesses seeking to relocate to, remain, or expand in the City; (iv) planning and implementing strategies focusing on creating, attracting, and retaining domestic and international businesses within the City; (v) small business development, promotion of women’s entrepreneurship, fostering creative industries retention and expansion, and curating innovation and entrepreneurship programs within the City; and (vi) such other economic development activities as the parties may reasonably agree for the term of this Agreement.

Economic Development Programs

a.              Economic Opportunity Fund Program, the specific terms and conditions for which are attached hereto as Exhibit “A”

b.              Opportunity Loan Fund Program 

c.              Business Improvement Loan Fund Program*

d.              Phoenix Loan Fund*

e.              Brownfield Revolving Loan Fund Program*

f.              Lease Purchase Bond Program

g.              Urban Enterprise Zone Program

h.              Empowerment Zone Loan Fund Program*

i.              Atlanta Street Vendor Loan Fund

j.              Atlanta Forward Loan Fund

k.              Women’s Entrepreneurship Initiative

l.              Creative Industries Loan Fund

m.              Loan Tools that support non-traditional business models

n.              Students to Start Ups

o.              Redevelopment of the Proctor Creek Greenway

 

*Program has its own intergovernmental agreement with the City and/or program documents.

 

1.3              Economic Opportunity Fund GrantsThe City agrees to fund the EOF Program annually and/or on a project by project basis, and the EOF Program shall be managed and administered by Invest Atlanta, as set forth in Exhibit A hereto.

1.4.               Reporting and Compliance. The City and Invest Atlanta hereby agree that the Economic Development Services shall be provided in accordance with any parameters established by the City and/or IA for the respective programs. Reporting and Compliance related to Economic Development shall be provided to the City by Invest Atlanta as provided in Exhibit B. Invest Atlanta further agrees to provide the City with such documents and information as may be reasonably requested in order to establish compliance by Invest Atlanta with the requirements and conditions set forth in this Agreement and any other agreement with the City related to the Economic Development Services, including, without limitation, budgets and other financial records demonstrating the proper expenditure of the sums paid hereunder, marketing plans, materials relating to development, redevelopment and business retention strategies, and redevelopment plans and other materials prepared in connection with Invest Atlanta's performance under this Agreement.

Section 2.              Redevelopment Services.

2.1              Definitions. For purposes of this Agreement, the following terms shall be defined as follows:

(a)              “Redevelopment Agent” shall mean the Atlanta Development Authority d/b/a Invest Atlanta as Redevelopment Agent for the City's TADs, as provided by O.C.G.A. §36-44-6(a), and the TAD Resolutions/Ordinances.

(b)              “Redevelopment Plans” shall mean the collective of the Westside TAD Redevelopment Plan, Atlantic Station TAD Redevelopment Plan, Perry/Bolton TAD Redevelopment Plan, Princeton Lakes TAD Redevelopment Plan, Eastside TAD Redevelopment Plan, BeltLine TAD Redevelopment Plan, Campbellton Road TAD Redevelopment Plan, Hollowell/M.L. King TAD Redevelopment Plan, Metropolitan TAD Redevelopment Plan and Stadium Neighborhoods TAD Redevelopment Plan.

(c)              “TADs” shall mean the collective of the Westside TAD, Atlantic Station TAD, Perry/Bolton TAD, Princeton Lakes TAD, Eastside TAD, BeltLine TAD, Campbellton Road TAD, Hollowell/M.L. King TAD, Metropolitan Parkway TAD and Stadium Neighborhoods TAD.

(d)              “Substantially Complete” shall mean that a TAD has achieved significant progress towards the goals set forth in the Redevelopment Plan, and where additional market-driven progress within the Redevelopment Area is likely to be made over the next 2-3 years without further TAD funding.

(e)              “TAD Resolutions/Ordinances” shall mean the collective of the Westside TAD Resolution, Atlantic Station TAD Resolution, Perry/Bolton TAD Resolution, Princeton Lakes TAD Resolution, Eastside TAD Ordinance, BeltLine TAD Ordinance, Campbellton Road TAD Ordinance, Hollowell/M.L. King TAD Ordinance, Metropolitan Parkway TAD Ordinance and Stadium Neighborhoods TAD Ordinance.

2.2              Redevelopment Agent Responsibilities. The Redevelopment Agent shall perform its responsibilities as set forth in the TAD Resolutions/Ordinances and in accordance with the Act (the “Redevelopment Agent Responsibilities”). Subject to the Redevelopment Powers Law and other applicable laws, the Redevelopment Agent Responsibilities shall include, but not be limited to, performing the following functions:

(a)              describing the boundaries of one or more redevelopment areas within the City;

(b)              causing redevelopment plans to be prepared, presenting redevelopment plans to City Council for approval and implementing and effectuating the purposes of such approved redevelopment plans;

(c)              assisting the City Department of Finance in tax allocation bond issuances, defeasances, restructurings, and advance refundings;

(d)              entering into and executing contracts, leases, mortgages or other agreements, determined by Invest Atlanta to be necessary to implement the provisions of approved redevelopment plans;

(e)              any single expenditure for contracted services, professional services, or other agreements to implement a Redevelopment Plan, in excess of $100,000 from a TAD Special Fund shall first be approved by the Invest Atlanta Board of Directors;

(f)              acquiring and retaining or acquiring and disposing of property or interests in property for redevelopment purposes; and

 

(g)              every three (3) years Invest Atlanta will cause an appropriate third-party Consultant to evaluate whether the Redevelopment Plans for each of the TADs is Substantially Complete, and report those findings to FEC and CDHS.

 

2.3              Redevelopment Compliance and Reporting

 

(a)              Invest Atlanta will provide the City with the reports, compliance data, analyses and other documents listed on Exhibit C attached hereto and incorporated herein by this reference within the timeframes so specified on said Exhibit C.

 

(b)              In addition to forgoing, Invest Atlanta will provide additional information regarding the City’s TADs as requested by the City Council; and

 

2.4              Termination of Substantially Complete TADs. Once an appropriate third-party Consultant engaged by Invest Atlanta determines that a Redevelopment Plan for a TAD is Substantially Complete, Invest Atlanta will advise the City to adopt legislation directing that surplus funds accumulated in the Special Fund from said TAD be used to defease bonds or otherwise satisfy any outstanding debt relating to that TAD, and to pay all other outstanding redevelopment costs in full. Once all outstanding debt and redevelopment costs for any TAD have been paid in full, Invest Atlanta will advise the City to adopt subsequent legislation terminating the TAD in accordance with the Redevelopment Powers Law, and to proportionately return any excess increment from said TAD to the City, Fulton County, and the Atlanta Public Schools, as appropriate.

 

2.5              Reimbursement to Redevelopment Agent.

(a)              Cost Recovery. As reimbursement for performing the Redevelopment Agent Responsibilities and the Reporting Requirements, Invest Atlanta shall be compensated from available tax increment for actual, eligible redevelopment costs in accordance with the Act and the annual budget approved for each TAD by the City, to the extent that such costs relate to the TAD from which the tax increment is generated. Reimbursement to Invest Atlanta hereunder shall be subject to all applicable laws, consents, indentures and other agreements, including but not limited to Intergovernmental Agreements with or consents from the Fulton County and Atlanta Public Schools.

 

(b)               Monthly Requisition.  To the extent that such costs are incurred, Invest Atlanta shall submit a monthly requisition to City Finance, in such form reasonably acceptable to the City, containing a summary of eligible redevelopment costs incurred by Invest Atlanta for performing the Redevelopment Agent Responsibilities and the Reporting Requirements. For each individual TAD, only eligible redevelopment costs related specifically to such TAD shall be presented to the City for reimbursement.

 

Section 3.               Administration.

3.1              The City and Invest Atlanta acknowledge that there may be professional services rendered in connection with the Economic Development or Redevelopment Services by accountants, auditors, financial advisors, law firms, underwriters and other consultants, the payment for which will be paid from revenue sources of a particular program or by the City, as agreed from time to time.

3.2              Invest Atlanta agrees to engage an appropriate Consultant to conduct a salary survey every three (3) years and to provide the results thereof to CDHS Committee.

3.3              Invest Atlanta will implement the procurement recommendations of the 2019 Disparity Study by maximizing opportunities for Female Business Enterprises, Minority Business Enterprises, Disadvantaged Business Enterprises and Locally-owned businesses.

Section Four.              Economic Mobility and Equity

4.1              One Atlanta Vision.  As Atlanta seeks to be a more affordable, resilient and equitable City, Invest Atlanta will also provide an intensified focus on the economic development and redevelopment indicia around economic mobility and equity to inform investment and programmatic decisions.  Data demonstrates that income inequality and social mobility are especially challenging in Atlanta.  In 2019, Invest Atlanta has undertaken planning for a three-year economic development strategy and an implementation plan, to be founded on Economic Mobility principals.  The findings of that strategy will be reported to the CDHS Committee by second quarter 2020.

4.2              Principle Objectives.  Invest Atlanta shall in its programs and in engagement with partners seek to maximize the following principles:

              (a)              Create healthy, vibrant neighborhoods in all parts of Atlanta;

(b)              Facilitate access to high-quality employment for all Atlantans, (including but not limited to qualified, long-term unemployment recipients, reentry ex-offenders, and veterans);

(c)              Foster wealth creation and neighborhood capacity building within underserved communities;

              (d)              Participate in regional collaboration related to workforce development in high-              demand occupations; and

(e)              Partner with sister agencies, non-profits, and community groups to produce, retain, and expand long-term or permanent affordable housing throughout the City, in a variety of types.

4.3              Outcome Objectives and Measures.  Invest Atlanta shall form clear outcomes, objectives and measures that will be defined in the Economic Development Strategy based on Economic Mobility Principals.  In conjunction with the creation of the Economic Development Strategy, Invest Atlanta will develop a revised Section 4, building on the principal objectives currently outlined and adding specific outcomes and measures ahead of the adoption of a five-year IGA by May 1, 2020.

4.4              Incentives.  Invest Atlanta shall focus all incentives (Federal, State and Local) to support the Principal Objectives as stated in 4.3.

Section Five.   Term.  This Agreement shall remain in effect until May 1, 2020.  Prior to the end of the Term, Invest Atlanta and the City will review its Economic Development Strategy based on Economic Mobility Principles and execute an amended five-year Intergovernmental Agreement.

Section Six.              Amendment/Modification. The parties hereby agree that this Agreement may be extended, renewed, modified or otherwise amended upon the written consent of both parties, including, without limitation, extension of the term hereof and/or modifications to the role, responsibilities or reporting requirements.

Section Seven.  Notices.             

If to the City:

 

City of Atlanta, Georgia Office of the Chief Operating Officer 55 Trinity Avenue, Suite 2500 Atlanta, Georgia 30303 Telephone: (404) 330-6780

City of Atlanta, Georgia, Department of Finance  68 Mitchell Street, Suite 11100 Atlanta, Georgia 30303 Attention: Chief Financial Officer Telephone:      (404) 330-6430 Facsimile:        (404) 658-6667

With a copy to: City of Atlanta Department of Law  55 Trinity Avenue, Suite 5000 Atlanta, Georgia 30303 Attention: City Attorney   Telephone:  (404) 546-4100 Facsimile:     (404) 546-9379

 

If to Invest Atlanta:

With a copy to:

Invest Atlanta 133 Peachtree Street, NE, Suite 2900 Atlanta, Georgia 30303 Attention: President & CEO Telephone: (404) 880-4100 Facsimile: (470) 498-4100

Invest Atlanta 133 Peachtree Street, NE, Suite 2900 Atlanta, Georgia 30303 Attention: General Counsel Telephone: (404) 614-8326 Facsimile: (470) 498-4100

 

Section Eight.              Miscellaneous.

(a)              This Agreement shall be governed by and construed under the laws of the State of Georgia;

(b)              Time is of the essence;

(c)              This Agreement may be executed in several counterparts, each of which shall be an original but all of which shall constitute one and the same instrument; and

(d)              Should any phrase, clause, sentence or paragraph herein contained be held invalid or unconstitutional, it shall in no way affect the remaining provisions of this Agreement, which provisions shall remain in full force and effect.

 

[SIGNATURES CONTAINED ON FOLLOWING PAGE]


IN WITNESS WHEREOF, the City and Invest Atlanta have executed this Agreement and caused their seals to be affixed and attested as of the day and year first above written.

 

ATTEST:           Municipal Clerk  [City Seal] APPROVED AS TO INTENT:         Chief Financial Officer   APPROVED AS TO FORM:         City Attorney ATTEST:         Assistant Secretary   [Authority Seal]

CITY OF ATLANTA                  Mayor Keisha Lance Bottoms         RECOMMENDED:                        Chief Operating Officer          THE ATLANTA DEVELOPMENT AUTHORITY D/B/A  “INVEST ATLANTA”           Dr. Eloisa Y. Klementich, CEcD President and CEO   

 

 

 

 

 

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Meeting History

Apr 15, 2019 1:00 PM Video Atlanta City Council Regular Meeting
draft Draft

REFERRED TO COMMUNITY DEVELOPMENT/HUMAN SERVICES COMMITTEE AND FINANCE/EXECUTIVE COMMITTEE WITHOUT OBJECTION

RESULT:REFERRED WITHOUT OBJECTION
Apr 23, 2019 12:00 PM Video Community Development/Human Services Committee Regular Committee Meeting
draft Draft
RESULT:HELD IN COMMITTEE [UNANIMOUS]
MOVER:Natalyn Mosby Archibong, Chair, District 5
SECONDER:Dustin Hillis, District 9
AYES:Natalyn Mosby Archibong, Michael Julian Bond, Dustin Hillis, Marci Collier Overstreet, Joyce M Sheperd, Matt Westmoreland, Antonio Brown
Apr 24, 2019 1:00 PM Video Finance/Executive Committee Regular Committee Meeting
draft Draft
May 6, 2019 1:00 PM Video Atlanta City Council Regular Meeting
draft Draft

RETURNED AS HELD TO COMMUNITY DEVELOPMENT/HUMAN SERVICES COMMITTEE WITHOUT OBJECTION

MEMBERS PRESENT: ARCHIBONG, HILLIS, WESTMORELAND, SHEPERD, BROWN, COLLIER OVERSTREET & BOND

RESULT:RETURNED AS HELD
May 14, 2019 12:00 PM Video Community Development/Human Services Committee Regular Committee Meeting
draft Draft
RESULT:HELD IN COMMITTEE [UNANIMOUS]
AYES:Natalyn Mosby Archibong, Michael Julian Bond, Dustin Hillis, Marci Collier Overstreet, Joyce M Sheperd, Matt Westmoreland, Antonio Brown
May 15, 2019 1:00 PM Video Finance/Executive Committee Regular Committee Meeting
draft Draft
May 20, 2019 1:00 PM Video Atlanta City Council Regular Meeting
draft Draft

RETURNED AS HELD TO COMMUNITY DEVELOPMENT/HUMAN SERVICES COMMITTEE WITHOUT OBJECTION

RESULT:RETURNED AS HELD
May 28, 2019 12:00 PM Video Community Development/Human Services Committee Regular Committee Meeting
draft Draft
May 29, 2019 1:00 PM Video Finance/Executive Committee Regular Committee Meeting
draft Draft
Jun 3, 2019 1:00 PM Video Atlanta City Council Regular Meeting
draft Draft

RETURNED AS HELD TO COMMUNITY DEVELOPMENT/HUMAN SERVICES COMMITTEE WITHOUT OBJECTION

MEMBERS PRESENT: ARCHIBONG, WESTMORELAND, SHEPERD & BROWN

RESULT:RETURNED AS HELD
Jun 11, 2019 12:00 PM Video Community Development/Human Services Committee Regular Committee Meeting
draft Draft
Jun 12, 2019 1:00 PM Video Finance/Executive Committee Regular Committee Meeting
draft Draft
Jun 17, 2019 1:00 PM Video Atlanta City Council Regular Meeting
draft Draft

RETURNED AS HELD TO COMMUNITY DEVELOPMENT/HUMAN SERVICES COMMITTEE WITHOUT OBJECTION

MEMBERS PRESENT: ARCHIBONG, HILLIS, BROWN, WESTMORELAND, COLLIER OVERSTREET, SHEPERD & BOND

RESULT:RETURNED AS HELD
Jun 25, 2019 12:00 PM Video Community Development/Human Services Committee Regular Committee Meeting
draft Draft
Jun 26, 2019 1:00 PM Video Finance/Executive Committee Regular Committee Meeting
draft Draft
Jul 1, 2019 1:00 PM Video Atlanta City Council Regular Meeting
draft Draft

RETURNED AS HELD TO COMMUNITY DEVELOPMENT/HUMAN SERVICES COMMITTEE WITHOUT OBJECTION

RESULT:RETURNED AS HELD
Jul 9, 2019 12:00 PM Video Community Development/Human Services Committee Regular Committee Meeting
draft Draft
RESULT:HELD IN COMMITTEE [UNANIMOUS]
MOVER:Matt Westmoreland, Post 2 At-Large
SECONDER:Antonio Brown, District 3
AYES:Natalyn Mosby Archibong, Michael Julian Bond, Dustin Hillis, Marci Collier Overstreet, Joyce M Sheperd, Matt Westmoreland, Antonio Brown
Jul 10, 2019 1:00 PM Video Finance/Executive Committee Regular Committee Meeting
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Dr. Eloisa Klementich, Invest Atlanta President & CEO

RESULT:FAVORABLE AS AMENDED [4 TO 0]
MOVER:Matt Westmoreland, Post 2 At Large
SECONDER:Jennifer N. Ide, District 6
AYES:Andrea L. Boone, Andre Dickens, Jennifer N. Ide, Matt Westmoreland
ABSTAIN:Howard Shook
ABSENT:J. P. Matzigkeit
AWAY:Natalyn Mosby Archibong
Aug 5, 2019 1:00 PM Video Atlanta City Council Regular Meeting
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Chairperson Shook made a Substitute Motion to Refer Resolution 19-R-3452 back to the Finance/Executive Committee. It was Seconded by Council Member Smith and the Motion FAILED by a roll call vote of 4 yeas; 10 nays. The availing vote to Adopt as Amended was before Council. It was Seconded by Council Member Westmoreland and CARRIED by a roll call vote of 13 yeas; 1 nay.

ADOPTED AS AMENDED BY A ROLL CALL VOTE OF 13 YEAS; 1 NAY

RESULT:ADOPTED AS AMENDED [13 TO 1]
MOVER:Howard Shook, Councilmember, District 7
SECONDER:Matt Westmoreland, Councilmember, Post 2 At Large
AYES:Michael Julian Bond, Matt Westmoreland, Andre Dickens, Carla Smith, Amir R Farokhi, Antonio Brown, Cleta Winslow, Natalyn Mosby Archibong, Jennifer N. Ide, Dustin Hillis, Andrea L. Boone, Marci Collier Overstreet, Joyce M Sheperd
NAYS:Howard Shook
ABSENT:J. P. Matzigkeit