Call it the little "Belt Line" that could.
The project, so named because it would run mostly on little-used
railroad tracks encircling the city's inner core, seemed only a pipe dream
a few years ago when it was conceived by Ryan Gravel, a Georgia Tech grad
student. Gravel envisioned light-rail cars or trolley-like vehicles
gliding along a continuous 22-mile loop that would serve passengers who
may be making short hops around the city for work and recreation.
Since then, however, the Belt Line has been picking up steam from a
string of influential supporters, including Mayor Shirley Franklin,
outgoing City Council President Cathy Woolard, environmental advocates and
several business groups. Last month, the Atlanta Regional Commission
proposed including the project in its $50 billion, 25-year transportation
plan.
It's easy to see why the Belt Line is getting so much attention. Unlike
some other transit projects that are too narrowly focused, the Belt Line
recognizes the missing links between transportation and land use, a nexus
that will become increasingly important as the population growth the city
has seen in the last decade continues. A recent study found that Atlanta's
core neighborhoods alone will add 180,000 new residents and 13,000 more
jobs by 2030.
As it stands now, Atlanta is a tale of two cities: Some of its
communities are densely populated and affluent, while others are
economically stunted and flush with sizeable tracts of land that stand
ripe for residential and commercial development.
In hopes of addressing those imbalances and identifying durable
financing for the project, Franklin last week announced the formation of a
task force to explore creating a tax allocation district for the Belt Line
corridor.
Established under state law, tax allocation districts authorize
business and property owners within the districts to tax themselves.
While those owners are still required to pay property and other taxes,
any additional revenues generated are used to pay for and maintain
improvements within the district. Such districts are already working
successfully in Midtown, Perimeter Center and, most recently, Atlantic
Station.
If the Belt Line is built, officials are confident that the value of
the property would rapidly escalate, as it did in the Pearl District in
Portland, Ore. The Pearl District attracted more than $1 billion in real
estate improvements within five years of the launch of a streetcar line
through the former warehouse sector.
City records show that land adjacent to the proposed Belt Line
currently has a taxable value of $244.4 million, and transportation
studies have found that every dollar invested in transit reaps about $6 in
new investment.
If done right, the Belt Line could be a powerful magnet to help attract
growth in neighborhoods where it's most needed while also helping more
developed communities to better manage their economic fortunes.
Given the stark realities of transportation funding, forming a
self-taxing district for the Belt Line has considerable merit for other
reasons as well.
The state Legislature has been reluctant to raise taxes to pay for new
roads or transit, a situation that probably won't change anytime soon. It
also appears likely that Congress will reduce the share of federal funding
that local governments can use for transit projects from 80 percent to no
more to 50 percent.
As cities and states around the country compete for dwindling federal
transportation dollars, projects that have a substantial "local match"
will get first preference.
That's important because the Belt Line won't come cheap; early
estimates put the cost between $200 million and $500 million. But because
the tracks for the Belt Line are already in place, it's a bargain compared
to the cost of widening existing roads or laying new track for a "heavy
rail" system such as MARTA.
Despite the mounting enthusiasm for the Belt Line, there are several
substantial obstacles that must still be overcome.
For one, some of the rights of way are owned and operated by private
freight rail companies that may be unwilling to share their tracks.
Also, a portion of the proposed Belt Line is under the control of the
Georgia Department of Transportation, which plans on using it for proposed
commuter rail lines. And it's still unclear how much it would cost to
operate the Belt Line, which is the most expensive aspect of any public
transit project.
While there's much work to be done, the city cannot afford to derail
this project because of a lack of money or a lack of vision. Business
executives and political leaders should continue getting on board.
BYLINE: Staff
DATE: May 17,
2004
PUBLICATION: Atlanta Journal-Constitution, The
(GA)
EDITION: Home; The Atlanta Journal-Constitution
SECTION:
Editorial
PAGE: A10
