Quote:
Originally Posted by Stratosphere 2020
Let me get this straight. Are the people voting on July 31st whether they should allow additional city taxes to be invested in the Beltline project? If people vote no that means the Beltline project is in danger?
I thought the whole project was approved already with the necessary finances for it. I base this on the present construction going on different phases of the Beltline project.
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I think you quoted the wrong link, but to answer your questions the Beltline is pulling funds from a variety of sources including capital contributions, city of Atlanta contributions, federal funding, but most specifically from its Tax Allocation District (TAD) financing. All of that can be found here:
http://beltline.org/about/the-atlanta-beltline-project/funding/
With that said, they don't have the money to build the transit at this current time which is very expensive. They are in the process of getting funding from the federal government to help match their contributions to pay for the transit that would go on the Beltline (most likely one section at a time), but that process of getting funds through government grants is very tedious and takes time. From what I've heard at various functions, and I apologize if I am remember a bit incorrectly, but they're looking at laying track 7 or so years in the future. Now, from what the Beltline said, should the TSPLOST pass which has several Beltline related projects in its scope, they'll be able to start laying track in about 18 months.