A coalition of opponents organized under the name “Redlight the Gulch” have refuted the terms outlined in a new deal made by the city with CIM Group to develop the 40-acres property in Downtown.
The coalition took issue with Mayor Keisha Lance Bottoms’ administration’s statement that the public cost of the proposed $5 billion deal has dropped to just $40 million.
“If that were true, the Redlight the Gulch Coalition would drop its opposition to the deal,” spokesman Julien Bene, a former member of Invest Atlanta who has publicly opposed the deal, said in a statement. “The truth is entirely different. This new scheme still diverts $1.08 billion of property taxes to the Gulch, along with $500 million in sales taxes, in 2018 dollars. The public cost is 40 times higher than reported yesterday. Not mentioned in the mayor’s statement: funds to the neighborhoods would drop from $125 million to $8 million.”
The statement continued that “the deal is simply not in the interest of city residents, communities and taxpayers. That remains true under the revised deal regardless of how the Mayor’s office attempts to disguise what this would cost residents. We call on the City Council to reject this shady deal and guide the city back to doing the public’s business in the public’s interest.”
You can see the coalition’s full statement and break down of their tax concerns facebook.com/RedLightTheGulch.