Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State or Territory: | Georgia |
| Effected Jurisdiction: | Gwinnett County |
Jurisdiction type: | County |
| Fiscal year ending In: | 2019 |
| Program name: | Bonds for Title Program |
| Program purpose: | Job Creation/Retention |
| Statutory authority: | Gwinnett County Economic Development Ordinance Section 2-151, et. seq. |
| Abating jurisdiction(s): | Gwinnett County, Georgia |
| Applicable taxes: | Property Tax |
| Method of abatement: | Reduction in assessed value |
| Provisions for recapture: | If the business relocates, the full value of any and all abatements received pursuant to the ordinance will be reimbursed to the County or issuing Authority. Should the business fail to meet fiscal impact, income, or employment requirements, there will be a 20 percent reduction in the abatement to be received for the first such year. If requirements are not met for more than one year, there will be a 50 percent reduction for the second such year. A third year of non-attainment of requirements will result in a termination of the abatement pursuant to the Ordinance. |
| Gross revenue loss: | $648,421 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $648,421 |
| Type of loss: | Active |
| Additional notes on dislosure: | entered into by Gwinnett County Development Authority |
| Document source: | https://www.gwinnettcounty.com/web/gwinnett/home/citizenfinanceguide/fin... |
