Monday, September 22, 2025–7:50 p.m.
-David Crowder, WRGA News-
The Rome City Commission has approved Tax Allocation District funding for property on North Fifth Avenue.
Ira Levy applied for TAD funding of no more than $50,000 a year for 10 years for the purpose of rehabilitating the properties for residential and retail use at 258 North Fifth Avenue.
“That was formerly the old Rome Com building,” said Rome City Manager Sammy Rich. “It has been beautifully remodeled.”
The area is within Tax Allocation District I.
“This particular redevelopment district will sunset in 2025,” Rich added. “So, there is a finite amount of time left for this project to receive revenue. If the value does not substantiate the equivalent of $500,000 over 10 years, then it could come up short. Nonetheless, it’s an exceptional project, and it appears to meet all the requirements of our redevelopment powers that spell out our TAD policies and procedures. It does come to us with a unanimous recommendation to approve from the Rome Redevelopment Agency.”
Under a TAD, any increase in property taxes stemming from improvements would be funneled back into the project for a set number of years.
The vote to approve was not unanimous with Commissioners Harry Brock and Mark Cochran voting no.
