Cobb judge approves Tyler Perry’s $1.8M tax break to park his jet there

Tyler Perry will get a $1.83 million cut in Cobb County taxes in exchange for registering and basing his luxury jet at McCollum Field.

On Thursday, Cobb Superior Court Judge G. Grant Brantley approved the last component of the package — a $35.3 million bond deal to refinance the aircraft.

State tax experts and former Cobb leaders said they doubted the deal was worth forgoing the money when Cobb’s development authority approved the deal in July.

Brian Hansen, one of the three Atlanta attorneys representing the film mogul with a reported net worth of $600 million, confirmed the bond validation but said he was under strict orders not to comment about the case.

Cobb OKs $405M budget, slashing funding to worried nonprofits

When asked if that was part of the deal or a condition set by Perry, the attorney said: “That’s just how I’m going to roll.”

Neither of the other attorneys were immediately available for comment Thursday.

Negotiations for the deal, which was given a code name of “Project Meatloaf” to keep talks private, began in May when representatives for Perry approached Cobb’s development authority.

“If you look at the amount of new persons and properties we put onto the tax rolls (and) as you look at the jobs being created as a result, it is a very positive project for Cobb,” said Nelson Geter, the development authority’s executive director, said Thursday.

Tyler Perry’s OWN exclusive deal ending with shows going to BET

The Embraer jet, listed by Aviation Week in 2015 at $53 million, will bring 10 jobs to the county, Cobb officials have said.

Perry’s company, ETPC Aviation LLC, already has two other aircraft at McCollum.

Over 10 years, officials say, schools would end up receiving $733,000 in new property taxes off the jet, while the county government would receive $400,000, despite the incentives. 

Tyler Perry to star in HBO biopic about Oscar Micheaux, groundbreaking filmmaker 

The amount the schools are giving up over the next 10 years, for instance, could pay the salaries of 28 teachers this school year.

Wesley Tharpe, research director at the Georgia Budget and Policy Institute, previously said the 10-job deal “strikes me as a very questionable return on investment.”

Geter said all that’s left now is the buttoning-up of the deal, which is similar to a real estate closing.

He said it could be done next week or “when the client wants to close it.”

Like Cobb County News Now on Facebook | Follow us on Twitter

Reader Comments ...

Next Up in Local

2 kids dressed as 'tall man' unable to gain admission to 'Black Panther'
2 kids dressed as 'tall man' unable to gain admission to 'Black Panther'

Two kids decided they wanted to go to the new Marvel superhero film “Black Panther,” but they didn’t want to pay for two movie tickets. So, they tried to dupe the movie theater’s manager. The duo went to the theater disguised as one “tall man” under a trench coat, but unsurprisingly, their plan didn’t work...
No charge: JetBlue offers to fly Parkland victims' families to South Florida
No charge: JetBlue offers to fly Parkland victims' families to South Florida

JetBlue is offering to fly families of victims of the Marjory Stoneman Douglas High shooting free to the South Florida area. The company announced that it would fly families free via its Family Assistance Center, and would also provide access to free ground transportation with Lyft. Last Wednesday, 17 people were killed Wednesday by a 19-year-old...
Stoneman Douglas High School will reopen Feb. 22 to staff
Stoneman Douglas High School will reopen Feb. 22 to staff

Marjory Stoneman Douglas High School, where 17 people were killed Wednesday by a gunman, will reopen Thursday, according to a statement from Broward County Public Schools. Only staff members will be allowed back on the sprawling campus in northwest Broward County. There is no mention in the statement when students will be permitted to return...
Dead man found after DeKalb County house party
Dead man found after DeKalb County house party

An early morning house party turned deadly Sunday in DeKalb County, officials said. Police were alerted by a 4 a.m. 911 call reporting shots fired on Clifton Springs Manor, Channel 2 Action News reported. Authorities found a man, whose identity has not been released, dead in a driveway. About 100 people were at the party and several people were detained...
Pennsylvania teen rescued from wind caves
Pennsylvania teen rescued from wind caves

A Pennsylvania teen who was trapped inside wind caves in Lancaster County was rescued after eight hours, WHTM reported Sunday. Dispatchers said the 15-year-old boy, who was with a group of friends and adults, became trapped about 250 feet into the wind caves in Martic Township around 5:30 p.m. Saturday, Lancaster Online reported. Tony...
More Stories