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Beltline, Inc...
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2-26-10: Beltline Tax Allocation District (TAD): Meeting of the Board of
Directors
Beltline Board Elects New Officers
The
following persons have been elected officers of the Beltline Board of
Directors 2010: Elizabeth Chandler, Chair, Clara Axam, Vice Chair,
LaChandra Burks (APS), Treasurer, Joseph Brown, Secretary, Patrice
Perkins-Hooker, Vice-President and General Counsel.
In a
related matter, Commissioner Darnell reported that APS TAD revenues have
been suspended by Court order due to pending litigation.
Click here
for “Fulton County Operating TAD Revenues” (2009) |
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12-1-09:
"Beltline Financial Statement
October 2009"
Click here for the ""Beltline Financial Statement October 2009" |
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10-22-09: BELTLINE BOND PROCEEDS: 93% ALLOCATED TO DEBTS AND OBLIGATIONS
(APPROVED BY THE ATLANTA CITY COUNCIL)
Total:
$164,675,000
Debts and
Obligations:
$153,475,000
Program
Development:
$11,200,000
Click here for “List of Redevelopment Costs to be Financed with Beltline
Series 2009 Bonds”
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9-16-09:
ADA (Beltline) Report, September 16, 2009 TADAC Concerns
The Tax Allocation District
Advisory Committee (TADAC) has contacted the Atlanta City Council
for “clarification” regarding
the ADA Beltline bond allocation process.
Created by the Atlanta City
Council “to make recommendation concerning the issuance, allocation
and distribution of Beltline
bond proceeds,” the Committee has requested “clarification” from the
City Council regarding a
proposed plan by ADA to deduct the cost of re-financing the $68 million
“Series 2008 Bonds” before
setting aside 15% of the bond proceeds for the Affordable Trust Fund.
The Committee also expressed
concerns regarding funding for the Economic Incentives Fund,
Public Art Funding and the
current status of the Five-Year Work Plan
Source: “Report
& Recommendations of TADAC; Regarding Proposed Uses of Beltline 2009
Bond Proceeds”
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8-21-09: Beltline
Financial Statements
The Board of Commissioners has received a copy of the Atlanta
Beltline, Inc. Financial Statements as of May 31, 2009. The Income
Statement shows net income of $5.5 million dollars. Operating
expense includes $1.5 million in salary and benefits, and another $1.1
million in other administrative type costs. $453,875.00 is listed
as “Bank Cost Interest Expenses”. Accounting, Legal, and Office
Rental costs are the next largest cost areas.
Source: “Atlanta Beltline, Inc. Income
Statement for the 11 month ending May 31, 2009”
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7-15-09: Beltline TAD Financial Report:
Fulton County Contributions
Source: “BELTLINE
TAD TAX INCREMENTS”
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*Beltline
Revises TAD Revenue Estimates
Beltline
officials have adjusted the original estimates of TAD funding for the
Beltline TAD from $279.8 million dollars to $100 million dollars (“Base
Case”). The scheduling of 5-Year Work
Plan projects
is based upon the revised estimates. Capital campaign estimates have
also been adjusted from $53 million dollars to $24 million dollars (“Base
Case”).
Source: “Beltline Funding Sources- Current Estimates” |
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