The City of Atlanta Transit Sales Tax Revenues represent a catalytic moment for the city and MARTA to impact income mobility through transit. However, this transit investment has the potential to displace working and vulnerable city residents and communities. To mitigate this impact, we are proposing a “Living Transit Fund” (LTF).
HOW IT WORKS
Establishes a low-interest investment fund to be used for strategic investment in MARTA-owned and non-MARTA-owned properties
5% of the $2.5 billion in estimated MARTA Sales Tax revenues generates approximately $125 million in capital investment for transit supportive development
Modeled after the Los Angeles County Metropolitan Transportation Authority Metro Affordable Transit Connected Housing (Metro MATCH) program
Funds can be used to land bank properties, support pre-development activities, and provide gap-financing to maintain affordable land costs
WHY IT WORKS FOR MARTA
Facilitating TOD with an affordable housing component makes MARTA projects more competitive for federal grants under the Federal Transit Administration New Starts program
Supports MARTAs 20% affordable housing goal or deeper affordability by subsidizing affordable housing units included in multifamily residential developments
Fund’s structure limits investment to development projects that increase MARTA ridership and revenues
Georgia Supreme Court precedent permits MARTA funds to be used for TOD if it increases ridership and revenue, and improves rider safety and comfort
Get the Full Details! Download the LTF Overview from the TransFormation Alliance!
Living Transit Fund
Send this Letter in Support
of the Living Transit Fund to
Atlanta Mayor Kasim Reed and
MARTA General Manager Keith Parker.
(Email Addresses in the attached letter)