Nearly $2B in public incentives to develop Gulch? (Atlanta: lawyers, home)

[Eureka1914]

There have been no third party audit of the CIM proposal and no public hearings, no opportunities for taxpayers to comment on the deal that potentially yields such a huge taxpayer-funded benefit to private company--developer CIM. At a time when Atlanta/Fulton County property owners are seeing dramatic rises in property taxes, this deal seems totally tone deaf. Concerned taxpayers should contact their city council representatives immediately and request that the brakes be applied to this proposed development, what some call a sweetheart deal for CIM. Taxpayers must demand transparency and a more thorough review of the proposed development with public comment before approving the deal. I for one am opposed to the proposal. The Gulch is a collection of dead-end properties, and adding development will only exacerbate the terrible motor traffic problems already present. The City would be better served to create a park on the land and commemorate the Civil War history associated with the site.

[Atlwarrior]

Originally Posted by Eureka1914

There have been no third party audit of the CIM proposal and no public hearings, no opportunities for taxpayers to comment on the deal that potentially yields such a huge taxpayer-funded benefit to private company--developer CIM. At a time when Atlanta/Fulton County property owners are seeing dramatic rises in property taxes, this deal seems totally tone deaf. Concerned taxpayers should contact their city council representatives immediately and request that the brakes be applied to this proposed development, what some call a sweetheart deal for CIM. Taxpayers must demand transparency and a more thorough review of the proposed development with public comment before approving the deal. I for one am opposed to the proposal. The Gulch is a collection of dead-end properties, and adding development will only exacerbate the terrible motor traffic problems already present. The City would be better served to create a park on the land and commemorate the Civil War history associated with the site.

Not, and for the love of God a Civil War Park does not fit with the area.

[Aqq000]

Wow. Smh at some of the ideas I read on here

[brown_dog_us]

So y'all are saying there is a chance the Gulch is used to house the Cyclorama?!?!?!?

[AnsleyPark]

Originally Posted by brown_dog_us

So y'all are saying there is a chance the Gulch is used to house the Cyclorama?!?!?!?

It has a brand new permanent home at the History Center.

[SEAandATL]

Originally Posted by AnsleyPark

It has a brand new permanent home at the History Center.

It's not in Grant Park anymore?

[autolycus25]

Originally Posted by SEAandATL

It's not in Grant Park anymore?

Nope, it moved last February.

https://www.cnn.com/2017/02/09/us/at...rnd/index.html

[bigup]

Originally Posted by autolycus25

Nope, it moved last February.

https://www.cnn.com/2017/02/09/us/at...rnd/index.html

But it won't be on view until next February!

[tre_maine]

https://michronicleonline.com/2018/0...h-development/

Public purpose initiatives agreed to by CIM Spring St. include:

An investment of $28,000,000 into a trust fund that will be used to increase affordable housing citywide
A commitment to construct a minimum of 200 residential units or 20% of the total built, whichever is greater, as affordable housing
An investment of $12,000,000 into an economic development fund that will be used to encourage new investment citywide
A commitment of $2,000,000 towards the implementation of the Atlanta Committee for Progress-designed workforce development plan
The construction of a new APD mini-precinct, which will be leased to the city for $1/year
The construction of a new, seven-bay fire station or $12,000,000 towards the cost of building a new station
Numerous security enhancements in the area including public safety call boxes and cameras
A commitment to lease office space for Invest Atlanta at 50% below market rate
A commitment to host the annual Peach Drop for the next ten years at no rental cost to the event organizers
Construction of a new Nelson Street Bridge at an estimated cost of $5,000,000
Establishment of a commemorative marker recognizing Carrie Steele Logan’s creation of the first orphanage to serve African American children in Georgia
A commitment to a goal of at least 38% utilization of minority and female owned businesses and to offer 10% equity to MBEs and/or FBEs
An agreement to cover all customary fees associated with redevelopment projects


As part of the agreement, CIM Spring St. will renovate office buildings at 185 Spring Street and 160 Trinity Avenue. The developer will also demolish the building currently at 175 Spring Street, making the space available for parking along with the Packard Parking Lot, which will be resurfaced. In exchange, the City is giving a warehouse at 2 City Plaza and the 2 City Plaza parking lots on Fairlie Street to the developer. The end result will be approximately 35 usable acres of new infrastructure, roads, sidewalks, open space and city parks in a previously undeveloped area of downtown Atlanta.

[citydwelling]

So, $55-65 million worth of public benefit in exchange for almost $2 billion in incentives. CIM needs to get real if they expect Atlantans and thus the city council to support that.

Building infrastructure for a future MMPT under the development, or funding the crosstown streetcar segments so the More MARTA money can go to fund the Beltline... those would be the kinds of investments that warrant $2 billion in taxes deferred to Atlanta residents instead of CIM and/or their possible mega-sized corporate client.