Deal$ Opening

Marshalls and Deal$

The past week proved well for economic development in the Westview area – on March 31st Marshalls opened up in the Kroger CitiCenter shopping complex, and Deal$ filled a vacant space at the corner of Cascade Avenue and Westwood Avenue with a grand opening of April 1st.

To view more photos please visit our Westview Facebook page.

Neighborhood Seeking Coffee Shop and Pizza Restaurant

Westview is currently seeking a coffee shop and/or a pizza restaurant to help anchor our neighborhood commercial district. There are a few commercial spaces available that would be perfect for starting a new business in the neighborhood. The commercial district is easily accessible by neighbors on foot, and the community is eager to support a local coffee shop or pizza restaurant. If you are interested in learning more please contact us.

Tax Relief for Businesses in Westview

Tax Relief for Businesses in Atlanta’s Renewal Community

The Atlanta Renewal Community is hosting Commercial Revitalization Deduction (CRD) Technical Assistance Workshops for business owners and developers of property located in Atlanta Renewal Community neighborhoods looking to reduce their federal tax obligations. The CRD tax credit allows business owners or developers who build new construction or substantially rehabilitate dilapidated buildings to reduce their federal income tax liability by writing off qualifying expenses related to their construction costs.

Specifically, the Commercial Revitalization Deduction allows a business owner or developer to either deduct half of eligible building expenses during the year that a building is placed in service or prorate deductions for eligible building expenses over a ten-year period. The tax deduction can be carried forward for 20 years.

The Atlanta Renewal Community encompasses 100 in-town neighborhoods, many with a history of economic challenges. The Atlanta Renewal Community Coordinating Responsible Authority (ACoRA) helps to promote commercial revitalization of these distressed neighborhoods with the CRD and several other special tax incentives. (To determine if a business or property is in the Renewal Community visit http://egis.hud.gov/egis/cpd/rcezec/ezec_open.htm.)

The workshops will guide owners and developers in completing a CRD application that will be reviewed and forwarded to the Georgia Department of Community Affairs for approval. To be considered for the special tax deduction, business owners and developers must complete an application before October 31, 2008.

The CRD Technical Assistance Workshops will take place at 2 p.m. on September 18, October 2 and October 16 at the Atlanta Renewal Community office, located at 34 Peachtree St., Suite 2360, Atlanta, Georgia 30303. Complimentary parking is available at the SunTrust Plaza Parking deck located on Auburn Avenue. Attendees must bring their SunTrust parking ticket to the session for validation. To reserve a seat, call 404-522-3970.

For more information about the Commercial Revitalization Deductions, contact Lisa Hawkins, senior program director for the Atlanta Renewal Community, at (404) 522-3970 or lhawkins@enterprisecommunity.org.