After four lengthy deliberations in the past six weeks, Fulton County commissioners voted to commit more than $500 million of taxpayer funds to what is expected to become the costliest redevelopment in the city's history.

To get Fulton's approval, Beltline officials had to agree to give the county $27 million from future Beltline revenue to build and renovate libraries. The Atlanta Board of Education and the Atlanta City Council previously backed the project. The school board's deal with the Beltline was a promise to reserve at least 840 affordable housing units for teachers and other employees of the Atlanta school system, area development consultants who attended the Fulton County public hearing tell GlobeSt.com.

The school board will be giving the Beltline project an estimated $850 million in future property taxes over the next 25 years. The redevelopment will include new homes, apartments, offices, shops, entertainment facilities, hiking trails, recreation areas, new transit routes and public parks.

To get the affordable housing built, Beltline officials have a $240-million subsidy pot to hand out to selected developers. Beltline officials will be creating two advisory groups to determine which projects should be funded with Beltline funds and to set a policy for handing out subsidies to developers of affordable housing.

Instant Insights /

GlobeSt.com UPDATE: Fulton Cuts Deal With Beltline to Give it Green Light

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