APPLICATION FOR IMPACT ANALYSIS

RD Investment Properties, LLC Date _______________

APPLICANT ______________________________________ 1/21/2021 404-793-0709
Telephone _______________
3772 Peachtree Rd. Suite 300
Address ____________________________________ Atlanta
City ______________________ GA Zip __________
State ______ 30326
The Related Group
PRINCIPAL USER ____________________________________________________ 404-793-0709
Telephone _______________
(If different from applicant or owner)

Address ____________________________________City ______________________ State ______ Zip ___________

OTHER USERS and percentage of project anticipated to be utilized:

Multi-Family
_________________________________________________________ 97
_____________%
Retail
_________________________________________________________ 3
_____________%
_________________________________________________________ _____________%

Daniel Harari
Person(s) to contact for additional information: ___________________________________________________________
SEE ATTACHED EXHIBIT
Principal user’s general nature of business _______________________________________________________________
To construct a mixed-use development with 382 multi-family units and 9,000 SF of restaurant/retail
Business to be conducted in Chamblee __________________________________________________________________
General description of proposed project, including location, building size, site, etc. _______________________________
382 multi-family units (467,62 SF) and 9,000 SF of retail and restaurant
__________________________________________________________________________________________________

Is proposed project a new facility? □Yes □No

In Chamblee: Number of current employees ______ 38
Anticipated increase in number of employees _______

Expansion of an existing facility? □Yes □No

If project will operate to retain employment in Chamblee, indicate number of persons affected ________
 PROJECT CHECKLIST

□ Letter of request including:

a. Nature of project
b. Project location
c. Project size and breakdown of estimated costs (see data requirements on next page)
d. Number of jobs created or saved
e. Requested property tax savings schedule

□ Completed application form

□ Application fee ($2,000 for retail/commercial/office/industrial…$3,000 for mixed-use/residential)

By executing this application, I agree to be bound by the rules, regulations, resolutions, and conditions imposed by the
Chamblee Downtown Development Authority (DDA). Without limitation, the DDA Board may, at its sole discretion, deny
acceptance of any application or participation in any project. I understand that the requested project review, if accepted, will
be made in consideration of my carrying out the Project described above so as to revitalize and redevelop the central business
district of the City of Chamblee. I agree to pay the appropriate fee as stated above without consideration for reimbursement.
I further understand that any variance in the project submitted may be grounds for additional analysis without consideration
for reimbursement. I hereby agree to these provisions.

RD Investment Properties, LLC

Submitted by (Company) _________________________________

Ed Allen
By ___________________________________________________ Sr. VP Development
Title _______________________________
 IMPACT ANALYSIS DATA REQUIREMENTS

FOR RESIDENTIAL:
Number of Housing Units:
Multifamily - 1 room 230 units
Multifamily - 2 room 134 units
Multifamily - 3 room 18 units
Townhomes N/A
Single-family N/A
Age-restricted (senior) housing 0
Total:382

FOR COMMERCIAL: FOR HOTEL:

Jobs by Business Type: Occupancy rate (average over a year)
Retail 15 (2.5/1,000) Average price per room night
Restaurants 14 (4/1,000) Number of rooms
Lodging Total annual sales from lodging
Office
Total: 29 FOR RETAIL:
Annual Payroll by Business Type: Retail Sales
Retail $40,000 Annual Taxable Sales - All Retail
Restaurants $45,000 Annual Taxable Sales - All Restaurants
Lodging Annual Taxable Sales - All Lodging (except rooms)
Office
Total:
 Related Development, LLC
3372 Peachtree Road, NE
Atlanta, GA 30326

March 18, 2021

Laura Linman
Economic Development Director
City of Chamblee-Community & Economic Development
5468 Peachtree Rd.
Chamblee, GA 30341

RE: Bond Inducement Application Form

Dear Mrs. Linman,

Related Development, LLC (hereinafter, “Related”) is most grateful for the City of
Chamblee Downtown Development Authority’s (hereinafter, “DDA”) consideration of its
application for a property tax incentive which will be necessary to proceed with the Manor
Chamblee Project (hereinafter, the “Project”). Related also recognizes and appreciates the hard
work and support you and your staff at the DDA have provided to make this Project a significant
“win” for economic development in the City of Chamblee.

The Project is an ambitious redevelopment of an existing site along one of the most high-
traffic thoroughfares in the City. The Project will consist of a multi-family complex with over
9,000 sq. ft. of new, Class A commercial retail space. The Project will positively enhance the
aesthetics of the area and substantially increase the tax revenues for the City, School, and County.
Current property taxes collected on the Project site property are approximately $77,500. When the
Project is complete, annualized property tax payments for the term of the proposed abatement will
increase to approximately $1 million.

In addition to the revenue increase, approximately 40 new jobs with an estimated, average
annual salary in excess of $50,000 will be created by the Project. The infrastructure improvements
associated with the Project are also immense and include: an extension of the Chamblee Rail Trail,
new greenspace, new sidewalks, street lighting, crosswalks, traffic signals and a public access road
to be maintained by Related.
 In order to make this Project financially feasible, the requested property tax abatement will
have to be approved.

We thank you very much for your support and consideration.

Sincerely,

Ed Allen
Senior Vice President/Development
Related Development, LLC
Exhibits I, II, III, and IV included below

1. Exhibit I- Nature of Project & Project Location

2. Exhibit II- Development Budget

3. Exhibit III- Breakdown of Public Improvements and Site Specific Development Costs

4. Exhibit IV- Proposed Tax Incentive

 Exhibit I: Nature of Project & Project Location

Related Development, LLC (“Related”) submits this application to revitalize and redevelop
the property located at the corner of Peachtree Boulevard and Sexton Woods Drive. This
development includes three (3) parcels (5154 and 5180 Peachtree Boulevard and 3462 Sexton
Woods Drive) totaling 5.04 acres (the "Property"). The Project will consist of a new mixed-use
community complex which will include 382 residential rental units, ~9,000 sq. feet of Class A
commercial retail/restaurant space, and a parking deck. The Project will compliment similar
redevelopment efforts along Peachtree Boulevard and further the City's revitalization goals related
to increased connectivity and walkability in the area.

Related is seeking to transform underutilized commercial property into an active and

visually appealing mixed-use community. The Project will replace existing, older structures with
new residential options and community retail/restaurant space consistent with other new
developments in the surrounding area. Given the location of the Property, the Project, with its
planned streetscape improvements, will provide new and existing area residents with new
businesses, restaurants, and offices along Peachtree Boulevard that are pedestrian friendly.

Related’s development team paid particular attention to visual appeal, pedestrian

connectivity, streetscape improvements, and the potential impact on surrounding properties when
designing the Project. As demonstrated in the submitted materials, the Project consists of two
buildings with a parking garage that have been designed as smaller-scale building blocks with
separate but consistent architectural features. The design reduces the overall visual impact and
provides the appearance of a series of smaller buildings which is made possible through utilizing
cohesive styling elements. Additionally, the Project is designed to complement the existing natural
grade of the Property while also addressing the surrounding area’s redevelopment efforts. For
example, the challenging topography of the Property will be leveraged to create a natural de-
escalation of scale and character as the Project extends down Sexton Woods Drive toward the
single-family homes. Based on this approach and specific building placement, the Project’s impact
on the residences along Sexton Woods Drive and the Keswick Park neighborhood will be greatly
reduced. The parking garage will be centralized within the Project and will be fully screened to
reduce its visual impact.

Enhancing and activating the Property frontage along Peachtree Boulevard, while also
improving access, are two of the major benefits of the Project . Currently, the buildings on the
Property are set back from the street with parking in front and to the side of the buildings.
Additionally, there are no sidewalks promoting safe pedestrian travel along Peachtree Boulevard.
With this Project’s completion, primary access to the Property will be from Peachtree Boulevard
and will align with the current traffic signal at the intersection of Peachtree Boulevard and
Chamblee Tucker Road. Eliminating the existing access into the 5154 Peachtree parcel will
improve safety and traffic conditions in the area. The sidewalk and landscaping additions will also
separate the pedestrian traffic from vehicles on Peachtree Boulevard and support the City's
increased focus on improving walkability in the area.

The Project plan features ground floor nonresidential uses along the Peachtree Boulevard
frontage, including three separate retail/restaurant commercial spaces. The Project’s retail spaces
along Peachtree Boulevard will all be provided patio and open space which will promote positive
community engagement and interaction among residences, retail guests, and Peachtree Boulevard
pedestrians. Finally, in addition to the pedestrian improvements along the site frontage, the Project
provides dedicated space for a future trail connection along the rear of the Property to extend the
City's rail trail to Sexton Woods Drive. This connectivity will increase the community’s access to
the Keswick Park.
 Exhibit II: Development Budget

Manor Chamblee Total Development Cost

Land Price $ 16,875,525
Hard Costs $ 70,779,039
Soft Costs $ 13,798,436
Total Development Cost $ 101,453,000
 Exhibit III: Breakdown of Public Improvements and Site Specific Development Costs

The total estimated development cost is roughly $101M. Related will spend roughly $6M in public
benefits and extraordinary costs, as follow:

• Rail Trail path that will include a multi-use path, with street trees, dark sky-compliant and
full-cutoff pedestrian streetlights, litter containers, benches, and similar sidewalk-related
items.

• Sidewalk improvement along Sexton Woods.

• Construction of new sidewalk along Peachtree Blvd. This would connect sidewalk at Elaine
Clark to Sexton Woods.

• Sitework: The property is topographically challenged, and Related will need to spend
roughly an additional $870,000 for extensive foundation walls and excavation.

• Environmental Remediation: Related will spend, at minimum, $435,000 on a remediating

an existing environmental condition on 5154 Peachtree Blvd.

• In response to community feedback, Related has significantly modified its site plan by
removing units towards the back of the Project and replacing them by adding an additional
floor along Peachtree Blvd. This has forced Related to modify its construction type to allow
for the added floor along Peachtree Blvd.

• City Council has conditioned its approval of the Project to adhere to some costly
requirements that Related has estimated to be over $500,000 Related will need additional
financial support to adhere to such conditions.

Public Improvements & Site Specific Development Costs

1 Rail Trail $ 129,000
2 Streetscape Improvement $ 360,500
3 Utilities Underground $ 2,097,000
4 Extraordinary Sitework $ 870,000
5 Massing and Setback Cost Impacts $ 895,000
6 Environmental Remediation $ 435,000
7 Additional Conditions $ 527,900
8 Traffic Signalization $ 358,000
9 Mixed-Use Additional Cost $ 865,000
Total $ 6,537,400
 Exhibit IV: Proposed Tax Incentive

Projected Project
Projected Project Projected Project Abatement Property Tax
Year Cost Assessed Value %age Pymt.
1 $101,000,000 $40,400,000 85% $257,598
2 $101,000,000 $40,400,000 76% $412,158
3 $101,000,000 $40,400,000 67% $566,717
4 $101,000,000 $40,400,000 58% $721,276
5 $101,000,000 $40,400,000 49% $875,835
6 $101,000,000 $40,400,000 40% $1,030,394
7 $101,000,000 $40,400,000 31% $1,184,953
8 $101,000,000 $40,400,000 22% $1,339,512
9 $101,000,000 $40,400,000 13% $1,494,071
10 $101,000,000 $40,400,000 4% $1,648,630
11 $101,000,000 $40,400,000 0% $1,717,323
12 $101,000,000 $40,400,000 0% $1,717,323
13 $101,000,000 $40,400,000 0% $1,717,323

Projected Projected Projected

Current Current Current Current Current Project Project Project
Assessed Property School County City School County City
Year Value Taxes Taxes Taxes Taxes Taxes Taxes Taxes
1 $1,757,320 $74,700 $40,559 $23,158 $10,983 $139,865 $79,859 $37,875
2 $1,757,320 $74,700 $40,559 $23,158 $10,983 $223,784 $127,774 $60,600
3 $1,757,320 $74,700 $40,559 $23,158 $10,983 $307,703 $175,689 $83,325
4 $1,757,320 $74,700 $40,559 $23,158 $10,983 $391,621 $223,604 $106,050
5 $1,757,320 $74,700 $40,559 $23,158 $10,983 $475,540 $271,520 $128,775
6 $1,757,320 $74,700 $40,559 $23,158 $10,983 $559,459 $319,435 $151,500
7 $1,757,320 $74,700 $40,559 $23,158 $10,983 $643,378 $367,350 $174,225
8 $1,757,320 $74,700 $40,559 $23,158 $10,983 $727,297 $415,265 $196,950
9 $1,757,320 $74,700 $40,559 $23,158 $10,983 $811,216 $463,180 $219,675
10 $1,757,320 $74,700 $40,559 $23,158 $10,983 $895,135 $511,096 $242,400
11 $1,757,320 $74,700 $40,559 $23,158 $10,983 $932,432 $532,391 $252,500
12 $1,757,320 $74,700 $40,559 $23,158 $10,983 $932,432 $532,391 $252,500
13 $1,757,320 $74,700 $40,559 $23,158 $10,983 $932,432 $532,391 $252,500
TOTALS $971,102 $527,266 $301,054 $142,782 $7,972,294 $4,551,945 $2,158,875

Addit. School
Projected Rev. $7,445,027
Addit. County
Projected Rev. $4,250,891
Addit. City.
Projected Rev. $2,016,093
 Conceptual Design

Manor Chamblee
Chamblee Downtown Development Authority Meeting 3/23/2021

Chamblee, Georgia
 Related Development, LLC (hereinafter, “Related”) is most grateful for the City of Chamblee Downtown Development
Authority’s (hereinafter, “DDA”) consideration of its application for a property tax incentive which will be necessary to proceed
with the Manor Chamblee Project (hereinafter, the “Project”). Related also recognizes and appreciates the hard work and support
you and your staff at the DDA have provided to make this Project a significant “win” for economic development in the City of
Chamblee.

The Project is an ambitious redevelopment of an existing site along one of the most high-traffic thoroughfares in the
City. The Project will consist of a multi-family complex with over 9,000 sq. ft. of new, Class A commercial retail space. The Project
will positively enhance the aesthetics of the area and substantially increase the tax revenues for the City, School, and County.
Current property taxes collected on the Project site property are approximately $77,500. When the Project is complete, annualized
property tax payments for the term of the proposed abatement will increase to approximately $1 million.

In addition to the revenue increase, approximately 40 new jobs with an estimated, average annual salary in excess of
$50,000 will be created by the Project. The infrastructure improvements associated with the Project are also immense and
include: an extension of the Chamblee Rail Trail, new greenspace, new sidewalks, street lighting, crosswalks, traffic signals and
public artwork.

Project Highlights
• 382 units
• Approximately 8,000 SF of retail
• Total Capital Investment: $101,000,000

Public Improvements
• Aligning with light at Chamblee Tucker Rd.
• Removing curb cut to 5154 Peachtree Blvd.
• 30+ new jobs to be created
• Extension of Chamblee Rail Trail to Sexton Woods Dr.
• Extending pedestrian sidewalk from Ellaine Clark Center to Sexton Woods Dr.
Rail Trail Extension
View 2 - Peachtree and Sexton

Manor Chamblee
February 10, 2021
Page 7 © dwell design studio, llc - ALL RIGHTS RESERVED
View 3 - Peachtree Bvld

Manor Chamblee
February 10, 2021
Page 8 © dwell design studio, llc - ALL RIGHTS RESERVED
View 4 - Sexton Drive

Manor Chamblee
February 10, 2021
Page 9 © dwell design studio, llc - ALL RIGHTS RESERVED
View 5 - Sexton Drive Stoops / Terracing

Manor Chamblee
February 10, 2021
Page 10 © dwell design studio, llc - ALL RIGHTS RESERVED
View 3 - Peachtree Bvld

Manor Chamblee
February 10, 2021
Page 13 © dwell design studio, llc - ALL RIGHTS RESERVED
Fiscal Impact Analysis of the
Manor Chamblee Project in
Chamblee, GA
Final Report

February 2021

Copyright © 2021
All Rights Reserved
Economic Impact Group, LLC
Charleston, SC 29412
 Table of Contents

Key Results ................................................................................................... 1

Introduction and Background .................................................................. 2
Data Requirements .................................................................................... 3
Government Financial Data .................................................................................................. 3
Demographics ......................................................................................................................... 4
Project Data ............................................................................................................................. 5

Fiscal Impact Results .................................................................................. 6

Details of the Analysis ............................................................................................................. 6

Appendix A – Fiscal Impact on Chamblee City Government ............. 8

Appendix B – Fiscal Impact on DeKalb County Government .............. 9
Appendix C – Fiscal Impact on DeKalb County Schools .................... 10
KEY RESULTS
The Manor Chamblee project is a mixed-use development consisting of 382 multi-family
units, and some retail. The investment in residential is $97.6 million, and in retail it’s $3.5
million. Operation starts in 2024 with the multi-family units and the retail.
This report presents the results of a fiscal impact analysis of the project on the
Chamblee city government, DeKalb County government, and the county school
system. It is expected that some of the 382 multi-family units will contain school-age
children which will have some impact on the county school system.
One abatement period is analyzed: a 10-year schedule beginning at 50% and
decrementing 5% each year. To show results beyond the abatement period, this report
covers a 10- and a 20-year forecast period. Property taxes generated by the project
are net of current property taxes.
Table 1 below shows the results for all three jurisdictions, with and without an abatement
over a 10-year period. Table 2 shows results for a 20-year period. The county’s taxes are
not being abated.
Table 1: Fiscal Impact Analysis for Manor Chamblee (10-year abatement) - 10 Years
Chamblee DeKalb School
Present Value of Net Revenues (NPV) $568,492 $3,685,800 $6,797,462
Present Value of Net Revenues (NPV) with Abatement ($33,089) $2,401,977 $4,575,942
Present Value of the Abatement $601,581 $1,283,823 $2,221,520

Table 2: Fiscal Impact Analysis for Manor Chamblee (10-year abatement) – 20 Years
Chamblee DeKalb School
Present Value of Net Revenues (NPV) $1,026,247 $6,507,580 $11,976,810
Present Value of Net Revenues (NPV) with Abatement $424,666 $5,223,757 $9,755,391
Present Value of the Abatement $601,581 $1,283,823 $2,221,419

With the exception of Chamblee’s 10-year impact with the abatement, the mixed-use
development’s fiscal impact on all three jurisdictions is positive with and without the
financial incentive. The abatement lowers NPVs substantially in the first 10 years but with
an additional 10 years with no abatement, the NPVs with and without the abatement
are decidedly closer.
It should be noted that current annual property taxes on the parcels making up this
project are only $10,983 for Chamblee, $23,439 for DeKalb County, and $40,559 for the
school system. The present value of these taxes over 10-years is $67,514, $199,941, and
$345,976 for Chamblee, DeKalb County, and the school system, respectively.

Fiscal Impact of the Manor Chamblee Project

INTRODUCTION AND BACKGROUND
The development is located in the City of Chamblee in DeKalb County, Georgia. The
project is a mixed-use development consisting of multi-family units and retail.
The fiscal impact of the development on the city of Chamblee, DeKalb County, and
the county school system derives from a regression-based model that forecasts
changes in local government revenues and expenditures as a result of additional
improvements; residential, commercial, and/or industrial. The model also forecasts
additional enrollment, which results in an increase in revenues and expenditures for the
school system.
The next section of the report will discuss the data requirements of the model, sources
for all data, and how various calculations were made to develop estimates required by
the model. The last section presents the fiscal impact results over 10-year and 20-year
periods. Construction impacts are not included because they are transitory and from a
fiscal impact standpoint, only result in sales tax revenue when items are purchased in
DeKalb County and subject to sales tax or when construction workers spend part of
their income on taxable items in the county. These amounts are typically small in
comparison to other revenue streams generated by the project.

Fiscal Impact of the Manor Chamblee Project

DATA REQUIREMENTS
Government Financial Data
The fiscal impact model needs a variety of data to run an analysis including a starting
point for each local government revenue and expenditure category. These data were
obtained from the Georgia Department of Community Affairs (DCA), which collects
annual financial information from every city and county government in Georgia1. The
data is provided to DCA in a format called the Uniform Chart of Accounts (UCA). The
major categories used in the model are shown in Table 5 along with three-year
averages for the county and city, the most recent years available from DCA.

Table 5: Revenues and Expenditures, 2017-2019 Averages

Revenues City of Chamblee DeKalb County
Property Taxes $8,558,966 $350,489,815
Sales taxes $2,871,640 $148,165,643
Franchise fees $2,177,278 $0
Liquor licenses $553,083 $460,851
Alcohol taxes $318,465 $3,546,022
Fines $1,431,048 $20,902,002
Permits $1,778,721 $7,922,622
Services $615,922 $60,191,508
Occupational tax $2,623,240 $11,222,602
Insurance premiums $1,915,080 $28,703,339
Miscellaneous $640,360 $329,912,112
Total/Average $23,483,804 $961,516,516
Expenditures
General government $3,175,441 $117,276,344
Health $0 $23,974,430
Social welfare $0 $6,363,059
Public safety $10,038,830 $160,970,416
Courts $383,692 $57,575,816
Public works $2,830,223 $128,804,355
Recreation and Library $3,161,626 $21,871,418
Miscellaneous $3,677,768 $17,004,713
Total /Average $23,267,580 $533,840,553
Source: Georgia Department of Community Affairs website

1 Local government financial data can be found at http://www.dca.ga.gov/RLGF/default.aspx.

Fiscal Impact of the Manor Chamblee Project

School districts in Georgia receive funding from local, state, and federal sources. The
model estimates the change in local revenues consisting of property taxes and sales
taxes, the latter if an Education Local Option Sales Tax is in effect. Therefore,
expenditures need to reflect what local revenues support. To do this, we use reported
annual local revenues from the Georgia Department of Education as a proxy for local
expenditures. That value is $585,315,554 for 2019. With enrollment in 2019 at 99,837,
average cost per pupil comes to $5,863.

Demographics
Commuting patterns are used to allocate new households expected from the project
to the incorporated and unincorporated areas of the county, and outside the county.
Chamblee has its own set of commuting patterns based on Census estimates of jobs in
the city held by residents and non-residents. The source for these estimates is a U.S.
Bureau of the Census website called OnTheMap (http://onthemap.ces.census.gov/).
Population and housing estimates also are needed for the analysis as well as
employment and wages, and millage rates. Table 6 displays the population and
housing data, and Table 7 contains the employment and wages data. Average wages
in the county in 2019 came to $41,520.
Table 6: Population and Households 2019
Item Value
Total population in Chamblee: 29,691
Total housing units in Chamblee: 12,335
Total population in DeKalb County: 756,558
Total housing units in DeKalb County: 314,302
Source: U.S. Census Bureau

Table 7: Jobs and Wages 2019

Item Value
Total jobs in the city: 39,249
Total wages and salaries for these jobs: $1,629,625,099
Total jobs in the county: 467,042
Total wages and salaries for these jobs: $19,392,493,000
Average wages in the county: $41,520
Source: U.S. Bureau of Economic Analysis

The regression model uses the value of total improvements in the city and in the county
for residential, commercial, and industrial sectors; as starting points. The percentage
change in these values is what drives the change in city and county revenues and
expenditures. Table 8 shows the 2019 market values and assessed values for each
sector in the county and in the city.

Fiscal Impact of the Manor Chamblee Project

 Table 8: Property Values in Chamblee and DeKalb, 2019
Market Value 40% Value
Residential improvements - City $960,403,940 $384,161,576
Commercial improvements - City $1,236,825,100 $494,730,040
Industrial improvements - City $352,532,273 $141,012,909
Residential improvements - County $37,956,874,483 $15,182,749,793
Commercial improvements - County $16,833,991,155 $6,733,596,462
Industrial improvements - County $2,079,340,318 $831,736,127
Source: Georgia Department of Revenue

Project Data
Investment in the mixed-use project is expected to be $102.1 million once all
components are built. Multi-family residential investment is estimated to be $100.1
million and commercial investment in retail and restaurants, $2 million. Residential units
will consist of 230 one-bedroom, 134 two-bedroom, and 18 three-bedroom units.
New jobs are estimated to be eight for management and maintenance of the
residential facilities, 20 for retail, and 14 for restaurants. Average salary for the eight
management/maintenance jobs is $100,000, $65,000 for retail, and $65,000 for the
restaurants.

Fiscal Impact of the Manor Chamblee Project

FISCAL IMPACT RESULTS
The fiscal impact model was run for 10 and 20-year periods. All monetary values are in
real 2021 dollars as no inflation is included in the analysis. A statistic called the present
value of net revenues or net present value (NPV) is used to convert the future stream of
net revenues into a current value using a real discount rate of 3 percent.
Tables 9 and 10 show the results of the fiscal impact analysis on all three jurisdictions. The
abatement period is 10 years. The 20-year results extend the analyses 10 years beyond
the end of the abatement period where each jurisdiction receives 100 percent of
property taxes generated by the project.
Table 9: Fiscal Impact Analysis for Manor Chamblee (10 year abatement) - 10 Years
Chamblee DeKalb School
Present Value of Net Revenues (NPV) $568,492 $3,685,800 $6,797,462
Present Value of Net Revenues (NPV) with Abatement ($33,089) $2,401,977 $4,575,942
Present Value of the Abatement $601,581 $1,283,823 $2,221,520

Table 10: Fiscal Impact Analysis for Manor Chamblee (10 year abatement) - 20 Years
Chamblee DeKalb School
Present Value of Net Revenues (NPV) $1,026,247 $6,507,580 $11,976,810
Present Value of Net Revenues (NPV) with Abatement $424,666 $5,223,757 $9,755,391
Present Value of the Abatement $601,581 $1,283,823 $2,221,419

No depreciation of real property is used in this analysis. While property values may
increase over time, if that increase is no greater than the rate of inflation then holding
the initial investment values constant over time is a reasonable assumption.

Details of the Analysis

Tables 11 through 13 in the Appendix illustrate the relative size of each revenue and
expenditure category used in the fiscal impact analysis. These categories are based on
the Georgia Department of Community Affairs (DCA) database of local government
finances. The values do not change after all construction is ended and the commercial
portion of the project has fully integrated into the local economy.
The project is expected to begin construction in 2022. In the second year of
construction (2023), the residential units will be completed therefore, assuming they are
all leased, both revenue and expenditure impacts are expected.
A forecast of the increase in public school enrollment is based on two factors, (1) the
number of 1, 2, and 3-bedroom units, and (2) the number of jobs at the retail and
restaurant establishments. Data on the average number of school-age children per unit
size produces the forecast of new enrollment at the development. A projection of new
housing stimulated by the new jobs, also creates new enrollment.
The average cost of educating students in DeKalb County times the enrollment forecast
gives the increase in school system expenditures. The increase in revenue to the school

Fiscal Impact of the Manor Chamblee Project

system comes from property and sales taxes flowing from the project. Enrollment is only
projected to increase by 51; 47 from the residential units and 4 from the jobs.

Fiscal Impact of the Manor Chamblee Project

APPENDIX A – FISCAL IMPACT ON CHAMBLEE CITY GOVERNMENT
Table 11: Fiscal Impact for Manor Chamblee - Chamblee - 10-Year Abatement
REVENUES 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042
Property Taxes $195,961 $244,219 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252
- Abatement $103,455 $114,810 $102,053 $89,297 $76,540 $63,783 $51,027 $38,270 $25,513 $12,757 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
PT with Abatement $92,506 $129,408 $142,199 $154,956 $167,712 $180,469 $193,226 $205,982 $218,739 $231,496 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252 $244,252
Sales taxes $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754 $8,754
Franchise fees $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450 $88,450
Liquor licenses $66,601 $66,602 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603 $66,603
Alcohol taxes $4,318 $4,320 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322 $4,322
Fines $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033 $39,033
Permits $19,608 $19,616 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623 $19,623
Services $20,902 $20,906 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910 $20,910
Occupational tax $46,752 $46,770 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787 $46,787
Insurance premiums $96,993 $97,004 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015 $97,015
Miscellaneous $4,418 $4,420 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422 $4,422
Total Revenues $488,337 $525,284 $538,118 $550,875 $563,632 $576,388 $589,145 $601,902 $614,658 $627,415 $640,172 $640,172 $640,172 $640,172 $640,172 $640,172 $640,172 $640,172 $640,172 $640,172

EXPENDITURES 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042
General government $112,217 $112,222 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228 $112,228
Health $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Social welfare $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Public safety $188,777 $188,851 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923 $188,923
Courts $6,030 $6,032 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034 $6,034
Public Works $76,868 $76,879 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889 $76,889
Recreation and Library $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011 $102,011
Miscellaneous $81,906 $81,937 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968 $81,968
Total Expenditures $567,808 $567,933 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053 $568,053

Net Revenue ($79,472) ($42,648) ($29,935) ($17,178) ($4,422) $8,335 $21,092 $33,848 $46,605 $59,362 $72,118 $72,118 $72,118 $72,118 $72,118 $72,118 $72,118 $72,118 $72,118 $72,118
NPV 10-Year ($33,089)
NPV 15-Year $212,671
NPV 20-Year $424,666

Fiscal Impact of the Manor Chamblee Project 8

APPENDIX B – FISCAL IMPACT ON DEKALB COUNTY GOVERNMENT
Table 12: Fiscal Impact for Manor Chamblee- DeKalb County - 10-Year Abatement
REVENUES 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042
Property Taxes $420,897 $526,667 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440
- Abatement $220,782 $245,014 $217,790 $190,566 $163,343 $136,119 $108,895 $81,671 $54,448 $27,224 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
PT with Abatement $200,116 $281,653 $311,650 $338,874 $366,098 $393,321 $420,545 $447,769 $474,993 $502,216 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440 $529,440
Sales taxes $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234 $352,234
Franchise fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Liquor licenses $2 $5 $8 $8 $8 $8 $8 $8 $8 $8 $8 $8 $8 $8 $8 $8 $8 $8 $8 $8
Alcohol taxes $14 $28 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42
Fines $19,591 $19,701 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808 $19,808
Permits $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Services $41,722 $42,046 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361 $42,361
Occupational tax $231 $231 $231 $231 $231 $231 $231 $231 $231 $231 $231 $231 $231 $231 $231 $231 $231 $231 $231 $231
Insurance premiums $126 $256 $383 $383 $383 $383 $383 $383 $383 $383 $383 $383 $383 $383 $383 $383 $383 $383 $383 $383
Miscellaneous $177,336 $177,649 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952 $177,952
Total Revenues $791,372 $873,803 $904,668 $931,892 $959,116 $986,339 $1,013,563 $1,040,787 $1,068,011 $1,095,234 $1,122,458 $1,122,458 $1,122,458 $1,122,458 $1,122,458 $1,122,458 $1,122,458 $1,122,458 $1,122,458 $1,122,458

EXPENDITURES 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042
General government $132,580 $133,265 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930 $133,930
Health $24,577 $24,748 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914 $24,914
Social welfare $437 $454 $471 $471 $471 $471 $471 $471 $471 $471 $471 $471 $471 $471 $471 $471 $471 $471 $471 $471
Public safety $214,402 $214,536 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667 $214,667
Courts $39,958 $40,219 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472 $40,472
Public Works $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661 $215,661
Recreation and Library $25,263 $25,438 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609 $25,609
Miscellaneous $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167 $22,167
Total Expenditures $675,045 $676,490 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892 $677,892

Net Revenue $116,328 $197,314 $226,776 $253,999 $281,223 $308,447 $335,671 $362,895 $390,118 $417,342 $444,566 $444,566 $444,566 $444,566 $444,566 $444,566 $444,566 $444,566 $444,566 $444,566
NPV 10-Year $2,401,977
NPV 15-Year $3,916,938
NPV 20-Year $5,223,757

Fiscal Impact of the Manor Chamblee Project 9

APPENDIX C – FISCAL IMPACT ON DEKALB COUNTY SCHOOLS
Table 13: Fiscal Impact for Manor Chamblee - County School System - 10-Year Abatement
Revenues 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042
Property taxes $727,179 $909,028 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688
- Abatement $382,039 $423,970 $376,863 $329,755 $282,647 $235,539 $188,431 $141,323 $94,216 $47,108 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
PT with Abatement $345,140 $485,058 $535,825 $582,933 $630,041 $677,149 $724,256 $771,364 $818,472 $865,580 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688 $912,688
Sales taxes from ELOST $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892 $200,892
Total Revenues $546,032 $685,949 $736,717 $783,825 $830,933 $878,040 $925,148 $972,256 $1,019,364 $1,066,472 $1,113,580 $1,113,580 $1,113,580 $1,113,580 $1,113,580 $1,113,580 $1,113,580 $1,113,580 $1,113,580 $1,113,580
Expenditures
Total Expenditures $283,443 $290,611 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568 $297,568

Net Revenue $262,589 $395,339 $439,149 $486,257 $533,365 $580,473 $627,580 $674,688 $721,796 $768,904 $816,012 $816,012 $816,012 $816,012 $816,012 $816,012 $816,012 $816,012 $816,012 $816,012
NPV 10-Year $4,575,942
NPV 15-Year $7,356,692
NPV 20-Year $9,755,391

Fiscal Impact of the Manor Chamblee Project 10