Atlanta Georgia leveraged tax-increment financing (or in their case, a tax allocation district) to finance the Atlanta Beltline. This mechanism operates on the assumption that the property values of an area will rise as a consequence of development. The increase in value from developed properties is considered city revenue and, after the city fulfills obligations investors and bond-holders, can be used to support sustainability staff and projects. This $4.8 billion urban development project provides transportation access in addition to resilient revenue streams for the area and is expected to create 30,000 permanent jobs and 5,600 units of affordable workforce housing, among a number of other community and environmental benefits.
Organization: City of Atlanta
Organization Type: City or County
Region: Out of State
Sectors Targeted: Local Governments