The Atlanta BeltLine project last week was selected as the Best 2009 Bond Deal at the Council of Development Finance Agencies’ 2010 Annual Development Finance Summit in Portland, Ore.
The BeltLine was selected by conference participants from among three projects culled from a pool of applicants across the U.S. “The Atlanta BeltLine bond deal …demonstrates the power of bond finance to have a transformative change in the community,” said CDFA president Toby Rittner.
The BeltLine is a 22-mile pedestrian-friendly rail system and community redevelopment around the city’s inner core that planners say will bring 1,300 acres of new green space, 33 miles of multi-use trails, $20 billion of new economic development, and 30,000 new jobs.
The BeltLine Tax Allocation District, Georgia’s version of tax increment financing, is expected to provide most of the needed $1.3 billion to $1.7 billion. Atlanta has already sold $78 million of TAD bonds for the project.