• MCS did not pledge its tax increment for the, now dissolved, Franklin Road TAD.
• Wills states purchasing Preston Chase Apartments has ... cost the school system $600,000 in lost property tax revenue since its purchase 4 years ago. School tax revenue for Preston Chase totaled $20,689 in 2010 for a total loss of $82,756, not $600,000.
• Wills also declares if Woodlands Park apartment complex is bought by the city (currently under contract) and sits on it for 10 years, it would cost the school system approximately $5.2 million. The 2013 tax records show Woodlands Park school tax revenue at $22,988, so assuming no one purchased the property for 10 years, it would be a $229,880 loss in school tax revenue- not $5.2 million.
• Nowhere in the article does Wills take into account the razed apartment complexes and lower student demands on MCS.
• The goal is to sell the cleared property to private investors to build light industrial/mixed use type of businesses. This will create new jobs and a much higher school tax revenue.
Marietta Board of Education, Ward 3