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REFERENDUM CONUNDRUM
Can Atlanta afford to issue millions in infrastructure bonds?
By Collin Kelley
INtown Editor
At press time, the Atlanta City Council was mulling
whether to require a debt affordability assessment
before the city considers issuing millions in municipal
bonds for infrastructure improvements.
Councilmember Felicia Moore introduced the
legislation in September and received support from
fellow councilmembers Mary Norwood, Andre
Dickens, Yolanda Adrean, Alex Wan, Ivory Lee Young,
Jr., Natalyn Archibong and Howard Shook.
The city faces an infrastructure backlog of more
than $900 million. To address the city’s pressing needs
of city roads, bridges, sidewalks and upgrading critical
public buildings and facilities, Mayor Kasim Reed is
proposing a $250 million bond referendum to pay for
many of the needed repairs and improvements.
The administration intends to use a combination
of savings recommended by the Commission on Waste
and Efficiency in Government and the sale of city
assets, including Underground Atlanta and the Civic
Center properties.
“I feel that the City Council should be fully
aware of the financial impacts of approving a bond
issue of this magnitude,” Moore said. “Therefore a
financial feasibility or debt affordability study should
be performed prior to the approval of legislation
authorizing the bond referendum for the issuance of
any bonds.”
Moore said a study would provide a basis for
measuring the impact of future debt issuances on the
city’s financial position and enable policy makers to
make informed decisions on financing alternatives and
capital spending priorities.
Prior to a bond referendum, the Atlanta City
Council must vote to authorize an election to be held
for the purpose of determining whether bonds will be
issued for the stated amount and purpose.
The city has launched an interactive map that shows
potential projects and programs being considered for
the bond referendum to help clear the backlog. The
interactive map can be accessed at infrastructuremap.org.
In addition to viewing potential projects in their
neighborhoods, residents also have the ability to
provide feedback and leave comments for city officials.
Estimated expenses and criteria for each proposed
project is also available.
Some of the projects listed include replacing
decaying bridges in Downtown, lighting for the Atlanta
BeltLine Eastside Trail, new recreation centers, pools
and public safety facilities.
Atlantantans would go to the polls in early 2015 to
vote on the bond referendum.
More public hearings are slated, so be sure to visit
atlantaga.gov for dates and locations. G3
special
The city has released an interactive map at infrastructuremap.org to
pinpointing potential projects for the bond referendum to fund.
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4 October 2014 | INtOWIl
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