Another link in the 22-mile loop that city leaders envision one day becoming Atlanta's newest beltline of transit, parks and trails has been secured.
Officials with the Atlanta Beltline announced late Thursday they have reached a deal with the Georgia Department of Transportation for almost 3.5 miles of land between Allene Avenue and Lena Street and Wylie Street and Memorial Drive.
The Beltline will lease the property at a nominal fee of $100 a year with the option to buy by June 30, 2012, said Ethan Davidson, spokesman for the Beltline.
Currently the property is appraised at $10.7 million for the 3.12 mile Allene Avenue-to-Lena Street tract and $2.8 million for .36 miles between Wylie Street and Memorial Drive, Davidson said. That appraisal is good for one year, he said.
"An option by itself is a great thing, but the lease allows us to get onto the property immediately," Davidson said, explaining that officials could begin studying options for the land and preparing the land for public use.
Thursday's announced agreement also allows the Beltline to acquire the remaining GDOT right of way that is targeted in the group's five year plan. That plan calls for the acquisition of 35 to 37 percent of right of way in the 22 miles by July 2011.
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