The Marietta Redevelopment Corporation (MRC) seeks to facilitate public financing of redevelopment projects using local, state and federally funded incentive programs. Among these programs, the MRC has focused on the use of Tax Allocation Districts (TADs), the Marietta Fund for Neighborhood and Community Revitalization (the Fund), New Market Tax Credits (NMTC) and Community Development Block Grant (CDBG) funds when possible.

These programs are all intended to assist with redevelopment and revitalization of Marietta through financing of

• Infrastructure including roads, underground power utilities, water and sewer lines.
• Demolition of buildings including substandard apartments
• Construction of public facilities including parking decks

TAX ALLOCATION DISTRICTS
The City of Marietta has established Tax Allocation Districts (TAD) in an effort to revitalize declining neighborhoods and stimulate reinvestment in underutilized property. TADs offer opportunities for communities to support desired private development by reinvesting the resulting incremental property tax revenues into the projects themselves. Major projects assisted with Marietta’s first TAD bond issue include residential and mixed use development. Read more

THE MARIETTA FUND FOR NEIGHBORHOOD AND COMMUNITY REVITALIZATION
The Marietta Fund for Neighborhood and Community Revitalization was created in 2006 by the City of Marietta and the MRC to acquire real property. The fund enables the MRC to act on the city’s behalf to strategically target, assemble, and hold, master plan and dispose of key redevelopment sites in targeted neighborhoods and commercial areas. The intent of the fund is to create future catalyst projects in areas that need revitalization. Read more

NEW MARKET TAX CREDITS
The New Market Tax Credit (NMTC) Program provides private-sector investors (e.g., banks, insurance companies, corporations, and individuals) with federal income tax credits in return for new investments in eligible busi­nesses, ranging from small business startups to real estate development. The program is designed to increase the amount of investment capital available to business and economic development programs in low-income communities that traditionally have had poor access to debt and equity capital. A low-income community generally is a census tract with a poverty rate of at least 20% or with median family income of up to 80% of the area median family income. Read more

COMMUNITY DEVELOPMENT BLOCK GRANT
The Community Development Block Grant (CDBG) program is a flexible program that provides communities with resources to address a wide range of unique community development needs. Beginning in 1974, the CDBG program is one of the longest continuously run programs at HUD. The CDBG program provides annual grants on a formula basis to 1180 general units of local government and States. Read more