Documented Transactions

Case Studies

Every case study on this site is built from primary government sources — tax records, bond resolutions, lease databases, budget documents, and official meeting minutes. Each piece ends with what the documents show, what we don't know, and what should change.

Case Study 01 — Published

The DJJ Building Sale

In 2020, the Avondale Estates DDA sold a publicly-owned office building to the sitting property manager — financed through a bond the buyer also purchased — with a 15-year full tax abatement. The building was under a 20-year state lease generating $2.16M annually. County records show a post-closing assessed value of $22M against a sale price of $7.45M.

$7.45MSale price
$22M+Post-closing county assessment
15 yrsFull tax abatement
Read Case Study →
Case Study 02 — Published

The Willis Abatement Transfer

A DDA Bond for Title arrangement reduced property taxes on a 197-unit apartment development during construction. The developer sold the stabilized asset for $52.5M fourteen months after opening. The buyer — who built nothing — received approximately 76% of the total abatement benefit automatically. The school district bore ~49.5% of the cost and had no vote.

$52.5MSale price
~$3MAbatement NPV transferred
No voteSchool district
Read Case Study →
Case Study 03 — Published

The Avila Development

Beginning in 2025 the city approved 40 zoning variances for an 800-unit development before final building plans existed, then committed $7.2 million through a Development Contract that bypasses competitive bidding. DeKalb County has denied sewer connection under an active federal consent decree. No independent financial analysis was presented before any vote. No affordable housing was required.

789Units, all market-rate
$7.2MPublic financial commitment
40Variances before final plans
~$32MEstimated 14-yr fiscal flow deficit
Read Case Study →