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Infrastructure Bond Meeting
September 18, 2014 @ 9:00 pm - 11:00 pm EDT
2015 Proposed Infrastructure Bond Public Information Meeting
Proposed Infrastructure Bond 2015
Mayor Kasim Reed has made a commitment to address the city’s pressing infrastructure challenges. Today, the city faces an infrastructure backlog of more than $900 million. In order to begin improving our city’s roads, bridges, sidewalks and expand our green spaces, the city is proposing a bond infrastructure referendum to pay for these repairs and improvements. The Departments of Public Works, Planning and Community Develop-ment, in coordination with the Atlanta City Council, are seeking public input to determine priority and criteria for project selection for the bond.
To that end, a series of information/community engagement sessions will be held throughout the city to solicit public input on what types of projects should be funded with the bond proceeds. An overview of the state of the city’s infrastructure and the referendum process will be included as part of the discussion. There will be three (3) rounds of public information meet-ings held between June 2014 and February 2015. Residents are invited to attend one or more of these sessions.
What is a Bond?
Bonds are investment opportunities issued by an entity that is authorized to sell bonds to investors. After the bonds are released into the market and investors subscribe to them, the proceeds are used to finance infrastructure projects. These developments include basic facilities and other projects. The facilities may include transportation and communication systems, and public buildings.
Why do an Infrastructure Bond?
Atlanta has aging transportation infrastructure: $881M is needed to restore and/or replace existing bridges, roads, sidewalks, street lights, signals and signs to good condition.
Atlanta has aging facility infrastructure: $130.8M is needed to restore and/or replace city facilities (fire stations, police stations, recreation centers, etc.) to good condition.
The decision will rest with the voters: The City of Atlanta recommends a diversified funding plan to address the infrastructure backlog that begins with a $250M general obligation bond to be presented to the voters in March 2015.
Inquiries related to the Proposed Infrastructure Bond may be sent to:
City of Atlanta
Department of Public Works
Office of Transportation Capital Projects.
ATTN: Rodney Givens, P.E.,
55 Trinity Avenue, SW, Suite 4500
Atlanta, GA 30303
Phone: (404) 330-6739