It seeks to jumpstart development in specific areas by using existing tax allocation districts (TADs) to raise money for major investment projects.
ATLANTA — In Atlanta, seven miles is all it takes to see a tale of two cities, according to the city’s Chief Policy Officer Courtney English.
“For folks who live in 30318, those folks have a 20 year life expectancy gap from folks who live just seven miles away in 30305,” English said. “Those kinds of outcomes didn’t happen by accident. It will require intention to disrupt those outcomes.”
Atlanta Mayor Andre Dickens hopes his new, $5 billion “Neighborhood Reinvestment Plan” will be that intentional disruption. It seeks to jumpstart development in specific areas by using existing tax allocation districts (TADs) to raise money for major investment projects.
The TADs are proceeds from future increases in property tax revenues captured by the City of Atlanta, Fulton County and the Atlanta Public Schools system.
“We will expand our transit network, invest in trails and green space, build affordable housing, invest in health centers, recreation and groceries,” Dickens said. “We will nurture these small businesses and commercial development areas and improve our public infrastructure.”
Dickens identified seven “focus neighborhoods” that would benefit from the TADs, which are Thomasville Heighs, English Avenue/Vine City, Grove Park/Bankhead, West Hollowell, East Campbellton, West Campbellton and Downtown Atlanta.
Marvin Nesbitt works with families in the Thomasville Heights neighborhood and believes this project could help them thrive with the rest of the city.
“The residents of Thomasville Heights have the local knowledge and the deep understanding of what their community truly needs,” Nesbitt said. “Partnering with city philanthropists and businesses ensures that these investments are targeted, impactful and don’t displace the very people they are meant to help.”
These special tax districts require approval from the city, county and schools in the area. But Dickens says he’s confident they’ll all work together on this “group project” that will bridge the gap between two cities.
The city said its plans include:
- $1.9 billion for expanded transit networks
- $1.5 billion in trails and greenspace
- $1.3 billion in affordable housing projects both single and multi-family
- $170 million supporting health centers, recreation and grocery
- $88 million reserved for small business and commercial development
- $81 million in public infrastructure
Source – 11alive.com
