A Fulton County judge says public agencies acted their parts correctly according to law and the Georgia constitution in a complex procedure that will see lots of public money used for a private development.
The Atlanta BeltLine likely won’t get approval Monday for a $7 million allocation to cover unspecified “professional expenses” until it explains to the Atlanta City Council what the money is supposed to cover.
The city of Atlanta is more than three months late in making a $10 million payment to the Atlanta Public Schools as part of the comprehensive agreement both governments reached Jan. 7 on the city’s tax allocation districts.The agreement was considered pivotal in the financing plan for CIM’s redevelopment of the railroad gulch in the heart of downtown.
Atlanta’s development authority board is thankful for the philanthropy behind a valuable tourist draw Downtown, but not everyone thinks the city should show its appreciation by spending that $7.5 million from a special tax fund on the aquarium.
Some at Atlanta’s development authority have recommended their colleagues spend $7.5 million from a special tax fund on the $108 million expansion of the private Georgia Aquarium. But the full board may ask whether a new shark exhibit request comes when there are more pressing public needs.
Invest Atlanta provided financing to a record number of developments at its board meeting July 21 – projects that will add a total of 493 units of affordable and workforce housing – a top priority of Mayor Kasim Reed.
But a reason there was such a rush of projects was due to the possible closing of the Eastside TAD (Tax Allocation District). And Mayor Kasim Reed supports closing the TAD.
The leaders of the the Atlanta agency in charge of attracting investment on Thursday morning approved millions of dollars in sweeteners or tax abatements for developments at Underground, Colony Square and more.