The Atlanta BeltLine will seek $50 million in new funding to complete the 22-mile loop of paths, parks and transit, according to a report from AtlantaLoop. On Sept. 7, the board approved a revised budget for 2017 that includes plans to issue three series of bonds, including $40 million for capital projects, $20 million for debt repayment, $7.5 million for affordable housing and $2.5 million for economic development.
The first series of bonds would be used to refund or refinance to take advantage for lower interest rates and would not result in any “new money” available to spend. The second series will be $20 million to cover outstanding loans, with $9 million going to the city of Atlanta and $10 million to Atlanta Public Schools.
The third series will result in $50 million in “new money” that the BeltLine would use over the next three to four years on planned projects.