DAFC BONDS PROCESS
The DAFC issues taxable and tax-exempt bonds for qualified economic
development projects across Fulton County and its municipalities, including the City of
The bonds, the interest on which may be taxable or exempt from income taxation, facilitate
financing for a company or institution, allowing the company to buy land, build new
facilities, expand existing facilities, upgrade equipment, or otherwise make investments
that enhance value and create jobs within Fulton County.
In addition to tax-exempt financing for manufacturing and other qualified projects, including
501(c)(3) projects, under federal law, many state and local governments offer taxable bonds
as a way to encourage economic development. For project owners and developers, bonds are an
often-overlooked source of capital that may offer significant tax advantages, thereby
reducing the overall cost of financing projects.
For projects meeting certain criteria, the DAFC issues a taxable bond (for which the client
must identify a purchaser). The Authority holds ownership of the property and leases it to
the client. The leasehold interest in the property is initially valued, for ad valorem tax
purposes, at 50% of the assessed fee interest, and that value increases by 5% annually over
a 10-year period. Thereafter, the leasehold interest terminates, and the property is fully
Projects range from new construction and equipment upgrades to the renovation and expansion
of existing facilities.
Bond financing applicants, whose projects are subject to DAFC qualifying guidelines, must
first complete an application to be reviewed by DAFC staff. The professional staff of the
DAFC 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
For more information regarding the program and project eligibility, please call our office at