Eighteen local governments and self-taxing business districts snagged a total of $33 million on Wednesday to help fund projects to alleviate traffic and draw business.
The funding from the Georgia Transportation Infrastructure Bank comes in the form of low-interest loans or grants for transportation projects. The fund was established by state lawmakers in 2008 and is administered by the State Road and Tollway Authority.
A record number of local governments and Community Improvement Districts (CIDs) applied for money to jump-start or finish 58 projects, but only 20 were selected this year because of the limited amount of money available. Applications were ranked based on several factors, including how much congestion a project would alleviate, the economic activity it could stimulate, other funds available for the project, and the project’s feasibility.
“We get a lot more for the state dollars that we are spending because local communities and CIDs and others are putting in local funds,” said Gov. Nathan Deal, who heads the State Road and Tollway Authority. “Most of the time, the state’s contribution is a small part of the overall cost. But it does put a priority on the projects that local communities feel are important.”
Among the grantees in Cobb County is the Town Center Area CID, which received a $1.2 million grant for the South Barrett Reliever. Barrett Lakes Boulevard will be realigned at Shiloh Valley Drive and a roundabout will be constructed. The project is designed to relieve traffic snarls on the notoriously congested Barrett Parkway by serving as an alternative east-west route. Eventually the CID plans to extend the road across I-75, said Town Center CID Chairman Mason Zimmerman.
Another is the Cumberland CID, which received $2.4 million to help build a $20 million diverging diamond interchange (similar to the one at Ashford Dunwoody Road and I-285) at the intersection of Windy Hill Road and I-75. The rest of the money for the project will come from a combination of state, CID and Cobb County funds. The project is expected to begin construction next year and be ready for traffic by the time the Braves stadium opens in Cobb in the spring of 2017, said Cumberland CID Chairman Tad Leithead.
A few other grants include:
- $3.1 million for pedestrian and roadway improvements to city streets around Atlanta City Hall and the state Capitol;
- $2.8 million for exit ramp improvements at Windward Parkway and Ga. 400;
- $650,000 to build a new "Lights Ferry Connector" in Flowery Branch to connect several major roads in that area with a roundabout.
The Flowery Branch project also received a $950,000 loan from the Georgia Transportation Infrastructure Bank. The loans have low interest rates of between 2 and 3 percent, depending on the length of the term.
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