The Development Authority provides catalytic funding for desirable economic development projects in Sandy Springs by providing access to capital and other financial incentives.
The goal of the Authority is to market Sandy Springs as a prime location for new and expanding businesses, which is achieved by working with city staff, government leaders and other regional economic development organizations to attract development and promote job growth and the public good in the City of Sandy Springs.
The Authority operates under the direction of a seven member board and meets on an as-needed basis. Members serve four-year terms and each member is appointed by the Mayor and confirmed by City Council.
The Development Authority operates under the direction of a seven (7) member board and meets on an as-needed basis. Members serve four-year terms. Each member is appointed by the Mayor and confirmed by City Council.
PROJECTS & PARTNERSHIPS
City Springs: Opened in 2018, this project has served as a catalyst for growth in the area, leading to a number of new restaurants businesses and over seventeen hundred new housing units being built.
Sandy Springs Innovation Center: The Authority uses collected fees from loan and bond programs to support collaborative marketing and economic development efforts, including the Sandy Springs Innovation Center.
Sandy Springs Gateway: This 21-acre mixed-use development offers unique retail experiences, office space, and luxury apartments with expansive outdoor patios.
HOW IT WORKS
The Authority provides taxable and tax-exempt bond financing opportunities pursuant to the Georgia Development Authorities Law to stimulate diverse, high-quality economic development. Bonds can facilitate financing for a company or institution that allows it to buy land, build new facilities, expand existing facilities, upgrade equipment, or otherwise make investments that enhance value and create jobs within Sandy Springs.
Bond financing applicants, whose projects are subject to qualifying guidelines, must first complete an application to be reviewed by staff. Staff evaluates each proposed project, including the number and quality of new jobs each project creates, and works in conjunction with the Fulton County Board of Assessors as applicable.
Projects can range from new construction and equipment upgrades to the renovation and expansion of existing facilities. Development Authority clients have included non-profit organizations and major corporations and institutions funding diverse projects: mixed-use developments, hotels, performing arts centers, educational and athletic facilities, corporate headquarters, technology upgrades and more.
The Development Authority is designated with the power to:
Finance (by loan, grant, lease, borrow or otherwise) projects for the public good.
Execute contracts and agreements.
Purchase, lease, and sell property.
Issue revenue bonds and notes.
FUNDING & MORE INFORMATION
The Development Authority receives no county or city taxpayer funds and is funded solely by service and loan fees related primarily to loan/bond programs administered by the Development Authority.
To apply for financing through the Sandy Springs Development Authority, or for more information please contact a member of the City of Sandy Springs Economic Development staff by calling 770-730-5600.
You can find more information about Development Authority meetings including when they occur and how to participate on the Public Meetings page.