Box 2, Folder 1, Document 8

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Box 2, Folder 1, Document 8

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. FUl'f0I NG OF URBAN R.EN:SW1~L AND
lIBJ.GHBOREOOD DEVELO?i:,fENT PROGB}J,1
PROJ ECTS
APRI L 29, 1969 .
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The City of Atlanta is pres ent ly engaged in eight Urban Renewal Projects
and five Neighborhood Developme nt Program Projects (3 in execution, 2 in
Thes e projects are fund ed jointly by the City and the
planning only).
Federal Governmen t.
The funding arrangement calls for a contribution
equal to one~third of the Net Project costs from tha City with the· re~
rnaini.ng two--thirds being suppJied by ·che Federal Gov ernmen t.
The City's share may b e in the form of ca sh contributions or non-ca sh
grants-in-aid, th e se grnrits-in- aid are demo lition and removal work,
project or site i ~prov eme nt s , public and supporting facilities, and other s
such as credits fro~ construc~ion of public housings.
At pres ent, the
eight Urb an Ren rn-1 al project~ presently in execution are Slunrna rized as
follows:
Net Project Costs
Local Non- Cash Gra nts-In-Aid
Local Cash and Real Estate
Cr edits
$60 millionl
20 rn:i.llion
1 million
This points very emphatically to th e feet that our prese nt Urban Renewa l
program has been financed al mos t comp l e tely through the use of non-cash
grants·· in-aid.
The res ults of this policy can be seen in th_e long delays
encountered in the clo sing out of these projects, some of which date back
into the 1950 's·.
The cash used for these projects has cor:ie frcr:rt money set aside in the 1957
and 1963 Genera l Obl igat ion Bond Issue s and totaling $3.2 milliono
There-
fore, we have, at present, $2.1 million of unencu:.1bered fun ds available
f:rom this source.
Of this amount, $1. 7 is presently expected to be needed
lof this amount $4.5 mi llion or 7\% has been incurred as interest charges.
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to meet the cash requin:ments of the Be~:fo:cd-Pine Neit;hborhooc1 Develop;T1.2ni:
Program Project in 1970.
The non.,c ash contributions of $20 million are the eligible portion of
total expenditures totaling about
$29 million and have some of the
following forms .
School
Sect i on 107 2 & Specia l Credits
Streets
Parks
Water T.mp:r.ove1aent
Sewer Improvement s
Special Facilities
Traffic I r,1p;:-ovemeats .
Oth er
$llol~ million
1.3 million
l~. 7 m:i.llion
.7 million
. 6 million
c6 m:i.lJ.:Lon
.3 m:i.11:Lon
.1 million
million
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$20.0 million
Some of the problems encount ered because of t he use of non-cash contributions (9408% of total city funding) as the City's source of funding Urban
Renewal activities are :
1.
Butler Street
A.
Middle School with a total estim.'.lted co st of $2 million has
been delaying the close of this proj ect , but should be under
contract by August of 1969.
2o
Ra-1vson - Washington
A• . Neighborhood Fac ilities, Building with a total estimated cost
of $1 million of which $150,0C0 will be an e ligibl e proj ect
cost.
This project is at present unfunded with -the only
poss ible source of funds be i ng t~rough Mode l Citi es o
It is
presen t ly plenned f or the Ci t y to purchase the l and from t he
Housing Authority and hold this until a det ermi na tion i s made
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rs rP.sulti.n ~ fro m th e construction of Publ ic Housing .
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r egard irrg t h e t.1. se of :t-:ode J. CH :i. es f und s.
B.
P.s.rk 1-lith an es tiir.a t ed co s t 0£ $2L:0,000 of wh :i.ch $33,000
will b0 el igibl e cos ts .
No s our c e of fu nding is pr e sently
asce r tainabl e ,
A.
El emen t a ry School 1-1ith an e st i ma t ed cost of $1.5 mj_llion a nd
expected to be und er contract by Aui us t of 1969.
B.
An e:-::pansion of the cx:i.st ing el ernent 8. ry scho o1. with an e s ti-
mated co s t of $700,000 and a t pre sent unf:un ded.
c.
Pa1·l~ with an e s tima t ed co s t of $75,000 which is al s o p:;:-es ently
unftinded .
4, Th omasvi ll e
A.
El ement ary schoo l wi th $1.5 mill i on es timat ed co st and expect ed to b e under contract by Au gus t, 19 69.
B.
Pa rk with est i ma t ed cost of $126,00 0 which i s at pr esent
unfunded.
C.
Tvn primar y scho ol EJ
with $1 million es tina t ed total cost and
a middl e school wi th an est i ma t ed co s t of $2 mi llion are unfunded and n o s our c e is s een until nt l eas t J ~~e of 1971.
The a dvent of th e Neighb orho od Deve l opment Program has br ought t o a n end
t he period during whi ch t he Ci ty could pl edge an i mprovemen t and t he n
wai t unt il funding b ecame av.s.i l ab le b efore c ompl et i ng it.
Und e r t he t erms
of an NDP agreeme nt, the City must h ave co~nple t ed or have unde r cont ract
al l non- ca sh grants - in- aid p l edged f or tha t pa r ticul ar yea r or contribut e
the requ i r ed amoun t in c ash.
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Our p:rc: :, cnt
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p1~ojects We:re
funded fo;~ 19 69 £r ora c11;:-eac1y existing imp:rnve··
ments o~ supporting facilities amounting to a tot a l City coDmi ttment of
$10. 8 million.
This supports a tot a l ·Nei ~hbo:choo<l Development Program of
$32.l, million.
The 1970 progr~~ is expected to hav e the follo wing Ci~y requirements:
Non··Cash
Ca sh
$1. 7 milli on
$ • 2 f\l:i.llion
Bedfor<l-Pine
1.3 million
1.5 mi lli on
Hocl e l CHie3
Edgei-lOOcl
Vine City
.1 milU.on
.1 mill ion
• 2 million
. 2 million
$3.l} million
$1.9 mi J.lio~1
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This would su pport a to tal pro gram o f $19.9 mi ll i on aud wou ld increase
gr eat ly :i.f the Edge'i·wocl and Vine Cit y projects were expanded to a signi ..
fic abt l eve l of activi ty.
This means that to support th e fairly light l eveJ. of r:c tivi.ty projected fo,~
1970 , th e City
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need approxima teJ.y $1. 7 million .
I£ any new m:eas are
added or the l eve l of activity incr eased t his would increase from $2.5 to
$4.0 million for 1970 .
The possible sourc es of funds include:
l.
Gen::;ra l Funds
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This
s:i
urce is already under consid er-ab l e pressu::ce and
no relief is p resent ly anticipated.
2.
The G.
annually.
o.
Bonds already ap prov ed, fo r i ssue in the amo un t of $4 mi llion
'.
The financing of Neighborhood Development Programs f m m these
bonds wou ld r equire the us e of almos t this entire amou~t every year and
could very likely become erriliroifed in l egal tangle s .
3.
Ano ther possibility is a sp ec ial Neighborhoo d Deve lopment Program
General Obligation Bond Issue of $10 - $20 mil lion in 1970 with a nother
issue 4 or 5 years lat er or the ob ta i ning of voter approva l to issue
G. O. Bonds for th i s purpose i n the amount of $3-5 m:i.lJ.ion per year.
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This appr o 2ch is natu~elly sub ject t o
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T'df . ~.E!S
of th e _p~b lic, and, there~
fo re , of u~cer tain dep enclabil i ty.
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Pe;:-haps the best method would be tln:ou::;h th e obtri:.i.ning of: a n ew rev-e nue
sour c e , by state approval , such as a sales t ax or a payro ll tax of which a
Cf,rtain portion ,-,oulc~ be eari;;art e d for Ne.:i.ghbo:chocrJ Dev_e lopment Programs .
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Of course in the pEr.suit of a ne-::-1 s ource of revenue we ,:n-e at loige:cheads
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with t he stet e and ma y not be able to obta in a satisfac t ory revenue s ource .
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Regardless of th e raetho <l you favor in obta i n ing the nee2c<l funds, it is
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i mperat i ve , if th e City of Atlanta is to 11'.aj_nte.in its progressive i mage and


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to continue
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thcrt a som~ce be found ; because the
c ont i nuat ion of a signific ant program of r es tora tion and reheblitation of
th e c entra l core of Atlanta is a vital cl ement in tl1 e continued evolution
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of our City.
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