Newnan City Council approves new tax distribution formulaBy JOHN A. WINTERS
Newnan City Council approved new Local Option Sales Tax distribution allotments during its meeting Monday.
The approval is contingent on the Coweta County Board of Commissioners approving the measure as well. Under the LOST distribution, Newnan will see its percentage increase by about 3 percent the first two years and then capping for the remainder of the tax period, which ends in 2022.
Distribution of proceeds from the penny sales tax, which provides property tax relief, is renegotiated every 10 years based on population changes.
Also Monday, council approved a request from the city’s Development Authority to adopt an Economic Development Incentives Policy.
“This idea came out of our council retreat we had earlier,” said Hasco Craver, business development director. “We see this as another tool toward successful development of our community.”
Businesses could expedite certain processes and eliminate various fees by meeting certain requirements, such as adding 10 or more employees and making a capital investment of at least $1 million.
In return, the policy would allow the city — at its discretion — to expedite the permitting process, waive permitting fees, waive occupational taxes and support the issuance of revenue bonds to assist the business.
Also Monday, council:
• Approved an amendment to its 2012 budget for additional Christmas decorations for the downtown area. The additional expense was approved at council’s last meeting. The Christmas Committee requested an additional $10,625 for new decorations and to upgrade and replace existing ones.
• Approved a request to rezone about eight acres at 931 Lower Fayetteville Road to allow installation of a telecommunications tower. The request already was approved by the city’s planning commission and was made at the request of Prime Ventures Corporation/ AT&T.
Currently, that property is only zoned for self-storage facilities.
• Approved a request from the Newnan Junior Service League to set up a collection point on the downtown square for its 29th annual Can-A-Thon to benefit the Coweta Community Food Pantry. The event will be Nov. 27 from 7 a.m. to 7 p.m.
• Approved a request from Shanita Hunter to hold the Cobra Parade Oct. 5, beginning at 6 p.m.
• Approved a request a request from ArtisTree Films and Dreamedia productions to film in the city on Oct. 10, 11 and 13 in the McIntosh Parkway and LaGrange Street areas.
The companies are filming “Zombie Royale,” an independent film.