The City and Invest Atlanta Pursuing Five-year Intergovernmental Agreement

If approved, Invest Atlanta would administer development programs of the City’s One Atlanta – Centennial Yards Project.
Centennial Yards Mini City Advances Downtown With Key Permit Filing - Rendering
Rendering: Official

A resolution authorizing an intergovernmental agreement between Invest Atlanta and the City of Atlanta is proposed to allow for the administration of the One Atlanta Centennial Yards program. Administrative activities include managing the One Atlanta Centennial Yards Community Benefits Funds for economic development, workforce development, and affordable housing programs in an aggregate amount not to exceed $23,622,500.

Sign up now to get our Daily Breaking News Alerts

Opt out at anytime

A New Intergovernmental Agreement (IGA) between Invest Atlanta and the City of Atlanta for the One Atlanta / Centennial Yards Program will be considered during the February 14, 2022, Invest Atlanta Finance Committee meeting. A similar resolution was adopted by the Atlanta City Council on December 20, 2021, and approved by the Mayor on December 22, 2021.

The City directed that the funds be allocated to Invest Atlanta in the following manner:

  • Affordable Housing – $15,060,000.00
  • Economic Development – $6,767,857.14
  • Workforce Development $1,794,642.86

According to a resolution contained in Invest Atlanta meeting documents, in November 2021, the City, Invest Atlanta, DDA, and Spring Street, LLC entered into the Enterprise Zone and Westside TAD Development Agreements to redevelop the Gulch Enterprise Zone, now known as “Centennial Yards.” Under the Development Agreements, Spring Street, LLC committed to donating Community Benefits Funds dedicated to improving Atlanta, particularly the disadvantaged residents and communities surrounding Centennial Yards.

The IGA is for a term of five years, with an additional five-year renewal upon the written consent of both parties.

Dr. Anita Archambeau

Dr. Anita Archambeau

Anita Archambeau, DPA AICP, is a freelance writer, adjunct professor, and consulting urban planner. She has over 25 years of community and economic development experience in local government. When she’s not working, you can find her exploring local craft breweries, walking her two beagles, or traveling to visit her adult children living in New York City and Minneapolis.
Dr. Anita Archambeau

Dr. Anita Archambeau

Anita Archambeau, DPA AICP, is a freelance writer, adjunct professor, and consulting urban planner. She has over 25 years of community and economic development experience in local government. When she’s not working, you can find her exploring local craft breweries, walking her two beagles, or traveling to visit her adult children living in New York City and Minneapolis.
Search