By John S. Sherman

The Atlanta BeltLine initiated by the city of Atlanta and administered by its own president and chief executive officer describes itself as “a $2.8 billion tax allocation project providing a network of public works, multi-trails, and transit along a 22-mile railroad corridor circling downtown and connecting 45 neighborhoods directly with each other.”

In the midst of the worst recession since 1929, proceeding with a $2.8 billion project will result in many serious financial problems for the city of Atlanta and the city taxpayers.

How can the BeltLine be salvaged?

There are two major components to the BeltLine: the park and greenway system – the least expensive – and the transit – the most expensive. The park and greenway have the support of every Atlanta resident; the transit is fraught with problems.

The city’s own feasibility study prepared by a committee chaired by the highly-respected Dr. Catherine Ross, Director of the Center for Quality Growth & Regional Development, Georgia Tech, covered ridership, costs, and technical considerations of the BeltLine.

Ridership: There are very few locations along the projected BeltLine where large and dense concentrations of jobs are expected. The highest number of jobs in the city are in Downtown, Midtown, and Buckhead, none of which would be directly served by the BeltLine. The projected BeltLine appears to be mostly residential, not the characteristic mix for generating large numbers of riders.

Costs: In the “BeltLine Overview of 2011,” officials stated that the BeltLine would cost $2.8 billion. Yet the city’s own feasibility study concluded that “the amount of revenue to be generated from the Tax Allocation District is expected to cover only half of what will be needed.” Thus far, the city has invested approximately $165 million in the BeltLine, mostly for the park and greenway.

The Taxpayers Foundation strongly feels that in today’s economic environment, the BeltLine should comprise only the affordable park and greenways. To proceed with a $2.8 billion project – in a depressed bond market – will result in many serious financial problems for the city of Atlanta and the city taxpayers.

John S. Sherman is president of the Fulton County Taxpayers Foundation.