Two federal investigations into the use of funds at Atlanta’s airport are cited in terms of the bonds Atlanta sold with provisions that would penalize Buckhead for deannexing from the city.
A founder of an organization opposed to Buckhead cityhood has criticized a story that appeared in “SaportaReport” concerning Atlanta’s sale of bonds this month with terms that contain a poison pill for the cityhood movement.
By MICHAEL HANDELMAN, CFA, executive director, Neighbors for a United Atlanta, Inc. “Buckhead cityhood effort does not seem to cause hike in Atlanta’s borrowing costs,” reported a Dec. 20 article by the “Saporta Report’s” David Pendered. This headline was based on a single point-in-time comparison between recent sales of government bonds by the City of […]
Atlanta borrowed nearly $200 million last week with no apparent adverse effect from the Buckhead City movement.
Atlanta went to market with about $188 million in bonds with terms of a poison pill for the Buckhead City effort the day before the Atlanta City Council met Wednesday to consider the defensive maneuver.
The Atlanta City Council on Wednesday is slated to enact a defensive position that could force a proposed Buckhead City to pay Atlanta possibly tens of millions of dollars within its first year.
The Atlanta City Council has raised the stakes of the Buckhead City effort by calling a vote in May 2022 for $750 million in funding for roads, greenspace and other infrastructure.
The credit rating of Atlanta’s airport hasn’t been changed, but the airport’s vulnerability to outside forces may be a factor Wednesday at a special call meeting of the Atlanta City Council.
Georgia’s routine borrowing of $1.1 billion in July is benefitting from the state’s decision to seek private-sector funding for the express lane megaproject to be built along Ga. 400, according to New York credit analysts.
Georgia Tech has received the top tier credit rating on an upcoming bond issue despite challenges facing the nation’s higher education sector as the pandemic remakes the college experience.
The extent of the affordable housing challenge in exurban Atlanta has become evident in Dawson County, where 25 miles north of Alpharetta an apartment complex is to be built with tax incentives near a jobs-rich outlet mall.
By David Pendered
The region’s transit agency sends an important message in its first major report related to the crisis that is the coronavirus pandemic. The ATL remains bullish on transit and its future.
Atlanta’s new affordable housing proposal envisions borrowing up to $100 million to establish “nearly 3,500” affordable residences. Terms calls for annual payments of about $2.5 million for up to 40 years, to be funded with property taxes.
The $1.2 billion Georgia intends to inject into the state’s economy through its long-term investment program is expected to help offset the pandemic-related recession that has cut jobs and hampered company earnings across the state.
Georgia has agreed to issue up to $2.1 billion in bonds on behalf of Emory University. The money is to help fund new construction and refinance existing debt.
Georgia’s foray into the next generation of road-building projects is proving so successful that the analysts have raised the credit rating on bonds that helped pay for it. Strong revenues result in fewer concerns about Georgia’s ability to repay a federal loan that helped fund the tollway in Cobb and Cherokee counties.
Georgia’s pension fund is highlighted in a positive light in a recent credit rating action by Moody’s Investors Service. Moody’s issued the rating for about $951 million in debt the state plans to sell for purposes including education and election voting systems.
Atlanta expects to save about $500,000 by refinancing a loan taken out in 2008 to help pay for upgrading the city’s water and wastewater system, a city finance official said Wednesday. The transaction is of note because the city secured a beneficial rate as municipal bonds face a swirl of headwinds.
The Metropolitan Atlanta Rapid Transit Authority (MARTA) Board of Directors approved a resolution to refund $56.8 million of its series 2012A bonds, saving the Authority $6.5 million in net present value of future interest costs. MARTA’s average interest savings is $588,000 per year. MARTA moved quickly on this partial refunding to take advantage of favorable […]
Atlanta hopes to be included in the second round of cities in the world to pilot an innovative financial tool underwritten by the Rockefeller Foundation. The money would help pay to install green infrastructure to improve the Westside’s polluted Proctor Creek watershed.