Tyler Perry almost has that $1.8M tax break to park his jet in Cobb

The only thing standing between Atlanta film mogul Tyler Perry’s deal involving millions of taxpayer dollars to park his jet in Cobb County is a superior court judge.

The judge will consider the proposal, which in addition to the $1.8 million tax break includes a $35.3 million bond deal to refinance the aircraft so Perry will register it to McCollum Field, on Oct. 5 at 10:30 a.m. during a bond validation hearing.

“Typically they go pretty smoothly,” Nelson Geter, executive director of Cobb’s development authority, said Thursday of the hearing.

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

He said this is the final step of a process that began in May when representatives for Perry approached the development authority.

State tax experts and former Cobb leaders doubt that the deal is worth forgoing the money.

The project was given the code name “Project Meatloaf” to keep negotiations private.

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

The basis of the deal is that Perry would move his aircraft from Fulton County and register the luxury Embraer jet — listed by Aviation Week in 2015 at $53 million — in Cobb. 

The development authority argued that it would create 10 high-paying jobs and add to the county’s tax digest.

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.”

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

Geter said the plane is already parked at the airport, joining the two other aircraft Perry’s company, ETPC Aviation LLC, already has there.

Perry has a reported net worth of $600 million.

After the development authority approved the deal in July,  it was sent to the tax assessor’s office which approved the abatement schedule on Sept. 6, sending it to superior court.

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

If the judge gives the OK, all that’s left is a process similar to a real estate closing, he said.

As for when the deal would be final, Geter said, “It could happen a day after validation, it could happen six months after validation, we don’t set the schedule for that.”

For more specifics on elements of the proposal, read here on myAJC.com.

Reader Comments ...

Next Up in Local

Alpharetta officer hit by alleged DUI driver
Alpharetta officer hit by alleged DUI driver

A 25-year-old man is facing DUI charges after allegedly hitting an Alpharetta police car on Ga. 400 Friday night. Joseph Gipe is accused of crashing into Officer Dustin Bak, who was heading home after a shift with the DUI task force, Alpharetta police spokesman Jason Muenzer told Channel 2 Action News. Muenzer said Bak was going about the speed limit...
Atlanta mayor candidates piling up endorsements
Atlanta mayor candidates piling up endorsements

The two rivals for Atlanta mayor scrambled Tuesday to lock up support from political power brokers, each jockeying to secure in the runoff election the giant chunk of the city’s electorate that declined to back them in the first round of the vote. Councilwoman Keisha Lance Bottoms announced the endorsements of several well-known white Democrats...
Woman on way to church shot in Atlanta neighborhood
Woman on way to church shot in Atlanta neighborhood

A 61-year-old woman was shot in her southwest Atlanta neighborhood as she drove to church, officials said. “I was on my way to church to clean the church,” she told Channel 2 Action News. Now, police are searching for the gunmen who fired as many as five shots last Thursday on Oak Drive.  A bullet came through the windshield and hit...
The Atlanta mayoral race and an election season in search of opposites
The Atlanta mayoral race and an election season in search of opposites

Atlanta mayoral candidates Mary Norwood (right) and Keisha Lance Bottoms at the Atlanta Press Club debate last week. HYOSUB SHIN / HSHIN@AJC.COM I can tell you who will be the next mayor of Atlanta. She’ll be the candidate who doesn’t stop talking about neighborhoods. Which is to say, Keisha Lance Bottoms or Mary Norwood...
Today's Hartsfield-Jackson airport wait times
Today's Hartsfield-Jackson airport wait times

Check current wait times at Hartsfield-Jackson International Airport here. Read more: If you don’t see the TSA Wait Times Chart above, click here Live Atlanta traffic conditions, wrecks, stalls, updates Travel weather: Check the forecast in other cities Atlanta airport: Restaurants in and near Hartsfield-Jackson What are they building at Atlanta...
More Stories