A Public-Private Partnership for Peachtree and Piedmont
Buckhead CID chairman David Allman and executive director Jim Durrrett with Governor Sonny Perdue.
Ah, alliteration run amok. Public-private partnerships are all the rage these days. The leverage! The efficiency! The fact of the matter is that CIDs in Georgia have been leveraging private sector dollars with public sector dollars to achieve significant returns on investment for over 22 years. We have been doing it for 10 years here in Buckhead. I realized that when I carefully read Governor Perdue’s June 30 press release announcing $10 million in grants from the Georgia Transportation Infrastructure Bank (GTIB) for CID projects in the Atlanta region. The Buckhead CID will be receiving $1.75 million (the largest grant given) to help us complete our Peachtree transformation. The grant will allow us to start and complete the final phase, Phase 3, from Maple to West Shadowlawn, much sooner than expected.
So where are we now with our efforts to create Atlanta’s signature promenade? Phase 1 is complete, from Maple to the 400 underpass. Phase 2, from the GA 400 underpass north to the Roxboro / Peachtree Dunwoody intersection, is underway right now. Underground utilities are being relocated. Right of way is being cleared for construction and construction will follow. With our receipt of the GTIB grant for Phase 3, our goal is to have that project underway and completed at roughly the same time as Phase 2 is completed.
So why is the Peachtree transformation considered a public-private partnership? The commercial property owners – the private sector – have chosen to tax themselves extra in order to enable the CID to get the projects teed up and ready to go, and to partner with local, state and federal funding sources to get the projects built. Talk about leverage and efficiency!