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Thu September 13, 2012
Influential business group likes Atlanta bond plan
A spokeswoman for Atlanta Mayor Kasim Reed says the city has yet to create a list of infrastructure projects to be funded by bonds.
Local business and civic leaders support the city’s plan to fund fixes to streets and other projects.
On Monday, Mayor Reed updated the Atlanta Committee for Progress on city issues and priorities. It’s part of city government’s deep tie with the business community. Georgia Pacific President and CEO Jim Hannan chairs the committee.
“We talked about long term fiscal sustainability for the city including funding for a backlog of infrastructure requirements for the city,” said Hannan.
There’s a backlog because the city has not had the $900 million necessary to permanently fix problematic streets, sidewalks and bridges. Hannan says Reed told the committee bonds could bring in about $250 million towards the backlog.
“So, to the extent that we’re addressing ailing bridges, traffic congestion, beat up sidewalks and unattended parks and things like that, it makes it better for all of them,” said Hannan.
It’s unclear when Atlanta will issue infrastructure bonds.