Gultch/CIM Group Development

[Triptychtwo]

Four pages of amendments the night of the vote?

I still can't imagine it would be up for vote if she didn't think she had what she needed....

[Pemgin]

Originally Posted by Sura

Is now a bad time to bring up that we had a 28-3 lead?

That will sting forever.

[trainiac]

Unanimous support for an amendment to accomodate future MMPT for commuter rail.....

[montydawg]

Originally Posted by trainiac

In midst of "committee of the whole" going over all gulch amendments at once, then when that committee closes they will vote on each amendment. Then the final agreement vote. Maybe 10pm? Not sure if they hard time stop

There are several amendments they have voted on. An amendment passed 10-4 that adds a provision to the agreement that space for commuter rail platforms will be reserved in this development. This is great news!

There is also a letter from Norfolk Southern stating they have reserved 120 feet of right of way along the rail lines under the development- which will also be plenty of space for commuter rail.

A vote on the project as a whole will come up soon. I'm pretty optimistic it will pass- based on the votes that have happened thus far.

[Street Advocate]

Originally Posted by trainiac

Unanimous support for an amendment to accomodate future MMPT for commuter rail.....

Annnnnnd now I’m confident the significant majority against the project would now support it.

[trainiac]

Originally Posted by Street Advocate

Annnnnnd now I’m confident the significant majority against the project would now support it.

Voted out of the committe of the whole and we're back in regular session after a 15 minute break (11:30)

[skyscraperpage17]

Originally Posted by Street Advocate

Annnnnnd now I’m confident the significant majority against the project would now support it.

Yep.

Still sucks that nothing will be done about the private streets though.

[Ant131531]

So is it official? Is it the gulch project finally a go? And why is CityCouncil meetings THIS long? Didn't it start at 1 PM????

[skyscraperpage17]

It passed narrowly, 8-6.

[trainiac]

All gulch ordinances are approved! Only Shook's Trinity property sale paper was unanimous. I can vouch for the fact that all voices were heard on this process.

On to the Mayor's desk....

[Martinman]

Oh man! I missed all the excitement. I actually didn't think this would pass today. I am somewhat surprised. I am very happy to hear that space for a MMPT has been preserved.

[atlwarrior]

Originally Posted by Ant131531

So is it official? Is it the gulch project finally a go? And why is CityCouncil meetings THIS long? Didn't it start at 1 PM????

It was a open floor and 7 hour of citizens remarks before they got to business. Some city council members showed their awful ignorance of basic contract law with the proposed amendments.

[jpk1292000]

Originally Posted by Pemgin

So today could be the day in which we lost Amazon, Norfolk Southern, AND the Gulch development.

No shutout today. Looks like we at least have Gulch and NS. May have never really had a shot at Amazon. I suspect Bezos had his eye on putting HQ2 in DC all along. He only announced a nationwide search to squeeze out the best package possible.

[BlueSangha]

I predict, NS sells their land, builds their tower, and the gulch sits empty for years to come.

[Nanosolar]

Originally Posted by BlueSangha

I predict, NS sells their land, builds their tower, and the gulch sits empty for years to come.

I predict I’ll be walking through the new development on my way to a World Cup semi-final.

[skyscraperpage17]

Originally Posted by jpk1292000

No shutout today. Looks like we at least have Gulch and NS. May have never really had a shot at Amazon. I suspect Bezos had his eye on putting HQ2 in DC all along. He only announced a nationwide search to squeeze out the best package possible.

Thst certainly fell flat on its face.

The places his heart desired didn't bother to engage in his bidding war, even after all of the shit and shenanigans

[smArTaLlone]

AJC article on the vote.
https://www.ajc.com/news/local-govt--pol...or-gulch-project/gFr7QJJF9f0UvvM4hzV7YM/

After more than 10 hours of debate and deliberation on Monday, the Atlanta City Council approved nearly $1.9 billion in public subsidies for a downtown development that will permanently reshape the city’s skyline.

Council members listened to seven hours of public comment before beginning their own deliberations then taking four quick, successive votes on the Gulch development — a $5 billion deal that will create a forest of office towers, residences, hotels and retail space on 40 acres that stretch from the CNN Center to the Richard B. Russell Federal Courthouse.

The deal was separated into four ordinances. One approved the issuance of $40 million in Tax Allocation District bonds to get the development rolling. That ordinance, which passed unanimously, will then allow developer CIM to draw $625 million in tax revenue generated from the project. A second established the project in a so-called Enterprize Zone, which will allow $1.25 billion in sales tax revenue collected from the project to be returned to the developer.

The Enterprize Zone ordinance passed 8-6, as did a third ordinance allowing the developer to draw down revenue from the Tax Allocation District.

The development will be the largest since Peachtree Center started in the 1960s. CIM proposes 18 parcels with at least nine skyscrapers of 225 feet or more in height, including one rising 500 feet or about 40 stories.

[echinatl]

Originally Posted by smArTaLlone

AJC article on the vote.
https://www.ajc.com/news/local-govt--pol...or-gulch-project/gFr7QJJF9f0UvvM4hzV7YM/

YES!!

[robertjhajek]

Originally Posted by echinatl

YES!!

If Abrams wins, Atlanta is on the way to a bright future. 2020 Presidential election for Georgia will be huge!

[Dale]

This is bigger in *built scope* than HQ2 and HQ3 combine. Is Norfolk Southern supposed to be a sufficient catalyst or are other players lining up ?