Thursday, June 18, 2009
News ADA to Atlanta Public Schools: No really, keep the $6 million
Posted by Thomas Wheatley @thomaswheatley on Thu, Jun 18, 2009 at 1:46 PM
Dave Williams of the Atlanta Business Chronicle reports that the Atlanta Development Authority has declined to hang on to the $6 million of Atlanta Public Schools funding generated from the Beltline tax allocation district.
Remember that whole deal? There was a lot of head scratching about whether the school board was in danger of violating its charter with such an arrangement, as the "pay-us-back-over-10-years" thing sure as hell sounded like a loan, yet it wasn't?
Well:
...on Wednesday, authority officials said potential legal complications surrounding receipt of the funds prompted them to decide not to take the money. Instead, the authority will focus on moving forward by the end of this year with a bond issue to support the Beltline project.
No word on exactly what those potential legal complications were. But it's likely that the lawyering and research needed to see iron out kinks about the deal would've stressed man hours and brain cells than it was worth.
Latest in Fresh Loaf
-
ATLwood: Vince Vaughn and Owen Wilson are back for more
Atlanta may snatch "The Hunger Games" from North Carolina ... #HungerGamesBitch
-
First Slice 5/25/12: First smog alert of the year = the actual unofficial first day of summer
Plus other things that harm children
-
Weekend Arts Agenda: You are Evereman
Few openings, but lots of festivals and parties
- More »
More by Author
-
First Slice 5/7/12: Georgia's terrible new license plates released today 11
Look away, motorist
-
First Slice 4/15/12: Herman Cain, stop making news 3
Former presidential hopeful's campaign made payments to groups run by former aides
- More »
Comments (0)