Date: Tuesday, June 21, 2011, 10:41am EDT – Last Modified: Tuesday, June 21, 2011, 11:24am EDT
A second self-taxing community improvement district has sprung up in DeKalb County.
The new Stone Mountain CID was approved by the county commission last week and has elected its first board of directors.
The new CID’s members elected developer Emory Morsberger the district’s president, and Larry Callahan, CEO of Pattillo Industrial Real Estate, was chosen to serve as chairman.
Stone Mountain becomes the 14th CID in the metro region, all formed by commercial property owners who agree to pay a tax to finance improvements inside their districts.
The Stone Mountain CID is bordered roughly by Hugh Howell Road, East Ponce de Leon Avenue and Tucker Industrial Road. Other major roads running through the district include U.S. 78, also known as Stone Mountain Freeway, and Mountain Industrial Boulevard.
The new CID already has completed its first project, repairing and replacing guardrails along Mountain Industrial.
The county’s first CID, located in the portion of the Perimeter area inside DeKalb, has brought in more than $100 million in grants since its formation in 1989.