The Beltline has approved its largest-ever budget, with $265.8 million funding the city’s emerald necklace as it speeds to a 2030 completion goal. Here’s a breakdown of the FY27 budget.

Since 2023, the budget has steadily increased year over year – last year rang in at $242 million. It represents the Beltline’s final stretch, as it gears up to build out the most complicated section of trail.

Atlanta Beltline, Inc. CEO Clyde Higgs called it a “tremendous year” for the Beltline. Annually, the trail sees 2.5 million visitors. He said over 60 percent are locals.

“The public’s investment creates experiences that make the Beltline so special,” Higgs said. “With the world’s largest linear arboretum, the South’s largest outdoor temporary art exhibit, as well as programs supporting affordable housing, small businesses and more.”

Finishing the city’s crown jewel

This year’s budget has one key focus: design and construction. The largest chunk of funds will go to actually finishing the 22-mile trail in time for the 2030 goal — $128 million, or roughly 48 percent — up 30 percent from last year’s budget.

“Our team has a great record for managing budgets and timelines, which is why we’re on track to finish the Beltline by 2030,” Atlanta Beltline Inc. Chief Financial Officer Nino Maisuradze said. “Investments in the next 12 months will focus on construction and land purchases that will complete the mainline trail.”

The funds will pay for the largest and most complex Beltline project: Northeast Trail segment 3. It is the only piece of the Beltline without an existing railroad right-of-way. To build it out, Atlanta Beltline, Inc. has purchased land along the planned trail path.

The second-largest chunk will go to real estate, about 17 percent of the entire budget. This will also fund the Beltline’s ongoing acquisition of land for affordable housing. For 2027, the agency has set aside roughly $41 million to work towards the Beltline’s affordable housing goals.

ABI aims to “create or preserve” 5,600 affordable housing units by 2030. It’s a push to keep the areas surrounding the popular trail affordable, particularly as increased amenities make rents and housing costs skyrocket. Currently, the Beltline has reached 81 percent of that goal, and if it keeps adding 300 to 500 affordable units a year, it will exceed the 2030 goal. Beltline data shows the agency is on track to reach 95 percent completion by FY27.

But it comes with a qualifier. About three-quarters of the units use the standard Area Median Income model, or AMI. The Beltline’s affordable housing will target people earning 60 percent or less of the income. Under the AMI, a four-person household earning up to $91,000 annually would qualify as low-income in the region. The majority of housing costs will meet that level of income — lower rates are considered “deeply affordable.”

Pushing the transit issue

Other areas received still sizable chunks of funding. The Beltline set aside $13 million aside for economic development, through projects like Atlanta Beltline Marketplace and more. Another $2.6 million went towards planning, engagement and art.

But transit received a relatively small chunk of funding. As one of the Beltline’s touchstone issues, the future of transportation on the trail has been a fraught debate. In February, the Beltline hired a ‘Transit Innovation’ Vice President to handle the design and delivery of a multimodal transportation network.

Joe Iacobucci was tapped to “continue advancing the transit vision.” At the start of the year, the Beltline said it was committed to delivering “22 miles of pedestrian-friendly transit to the Beltline.” But the nature of the transit itself was unclear.

After the original streetcar extension plan got punted, leadership toyed with autonomous vehicles or transit to the Beltline. In June, it launched ATL Spoke — an “autonomous public transit pilot” to connect the MARTA West End Station to the Southwest Trail at Lee + White.

The $6.7 million set aside for FY27 will fund MARTA elevator improvements and transit studies, according to a budget fact sheet. The work will “shape a playbook for future transit investments.” Notably, the money will not fund any light rail transit. It’s unclear if the funds will be allocated at a future date.

Where does the money come from?

According to Beltline leadership, the budget comes from a diverse mix of sources, like philanthropy and grant dollars. But the growing funds can largely be attributed to the runaway success of the Beltline Tax Allocation District.

The TAD funds 72 percent, or $192.5 million, of the FY27 budget. But once it closes, the Beltline will have to pull from other funding sources. Roughly $37.5 million and $27 million in funding came from philanthropy and grants this year, respectively.

Atlanta Mayor Andre Dickens had previously pushed to extend the Beltline TAD (and all other city tax allocation districts) to 2055 as part of his massive Neighborhood Reinvestment Initiative, though he has recently backed off from certain areas. Now Dickens proposes the Beltline TAD close naturally in 2030.

Without the TAD funds, the Beltline will have to compensate with funding from other sources like philanthropy, grants and the Special Services District. But if all goes according to plan, the trail will be finished just in time for the TAD to close, likely reducing the budget needed. The Beltline is still on track — it already has 16.7 miles of completed trail.

The post Breaking down the Beltline’s $265 million budget appeared first on SaportaReport.

SaportaReport

Message History

Delivery option(s)