The term diversification which I feel like is such a plow forward in faith. And for me as someone who is in this industry, it's so exciting that there's a heightened awareness of our business space and things are happening in our communities in the work that we're doing. And it's exciting to work with someone more knowledgeable on these topics related to the built environment. But with that, I've encountered a lot of misperceptions in in the term certification. I feel like it's just thrown around so loosely, and now I see a trend of people communicating something disability and something's brought up because I posted information, we're going to artifact that existed because it represents something that's going to displace or cause harm, even if it's a good project. So I'd love to hear more about how you will have been able to navigate that this green misinterpretation perception issue that's impacted by communities and what you are doing to mitigate some of the negative impacts that could come from the investment that those that ignore brings along the Beltline?
Yeah, that's that's a fair question. But NASA and you know, again, if we're being honest that the Beltline was was the poster child for for the G word. I will say, I think that that's such an unfortunate word, because it doesn't really know what people are trying to feel. And so for for me, it is an incomplete word. It's, it's a lazy word, in many ways. And then what I what I mean by that, is it let's be honest, can we work for family, right? That word is a little bit based and race free. Right? Right. But it's an unfortunate, incomplete word. Because if you suggest that black people don't like to drink coffee, I think you're wrong. A lot of people like talking to you are suggesting that bringing a new medical facility to a community is is a bad thing. I think you're wrong. If you suggest that, you know, grandma and granddad, who had been in that community for for decades, does not want a nice part to enjoy. I think I think you're wrong but I think what we're trying to say is is displacement. That's really what they're trying to say is I think the word gentrification has been overused and has overtaken but but gentrification is not actionable. Displacement. You can take action against displacement. And that's what we're talking about, which is this legacy resident retention program, and we actually can pay people's property taxes so that grandma can stay in the community so she can enjoy the park. She can enjoy the coffee shop, she can enjoy those. That's really what we're talking about. Displacement is sound natural. gentrification is a flop and amorphous you can carefully attack. So that's what
people want. They want to be able to stay to enjoy and so how do we make from a policy perspective and even practice how we can make sure that we are protecting folks who are there and creating opportunities for people to come in and be a part of those communities? Great point. I also want to ask about so we're talking about it in a very urban actually, especially with this with the population demographics of the city proper, which was actually shocked. Listen, think about millions of people but when you look at the actual co founder, it's around 600 Yeah, not too far. But still a very urban dense community in in Oklahoma, we are over 75% rural so a lot of folks who are in here are working for from or living tap. in very rural small community contexts where density is low. financial means resources. are very limited in existence at all. And they're working with a lot of obstacles and barriers within the space. Not an idea of respect that they have I see as a creative is here but mobilize the ideas. I think a lot of communities struggle with that. And so I'd love to hear from your point of view. What how might a rural community a smaller community, be able to address their leverage and ability like a trail to really bring in economic development benefits to a community?
That's a fair question. And so people don't know this either. But in Atlanta city proper, is just north of 5000 people. But we are a city of suburbs. So if you start thinking about it in those terms, and we swell to about 6 million people, that that's that's kind of a difference there. And I'll just go back and I'll get back to your question here. But a part of that a challenge that defines thesis was trying to address is our growth. So we have about 6 million people in metro Atlanta, but in the next 25 years, we're gonna have another 2 million people to talk to. So we have to figure out that out. And then what you've also had is just as this is all about three pandemic, but you have people that live on the outskirts, you got million people that drive into the city at 9am. And then once they finish work, you got a million people live. And that just changes the Democrat. I mean, it's it's challenging from a tracking perspective, but going to your question about small communities, rural communities, I would challenge you all and thank you for your leadership in this space. I think you're, you're you're spot on. But I might ask you all to look at ways to create economic impact as well. That the original narrative around the Beltline was was nobility, getting people around the city, it was about recreation, as well. But we've changed that narrative to make it about economic and community development impact. And so we probably get three calls a month, from other cities, other municipalities asked us about what makes the Beltline so special, but it's just a glorified sidewalk, right. And, but by trying to explain to them is that that Uber blessed with that infrastructure as a part of our language, it wasn't that we wouldn't try to create you know, this Rails to Trails project and that's what communities would do. Oh, we want to create a beltline in an Iowa I'm just like a big enough to save some time but, but do what is special to you in Iowa, not necessarily replicate exactly what the Beltline is, but whatever it is special and unique to your community. That's what you build. And so So think about this. Yes, recommendation is important. But a commerce would drive. How do you bring people together in from an infrastructure per se, it's all about people, all about people. And so that's one of the things that I would recommend, communities to look at is economic development, impact and what's so unique about TAF, about the planner, about Austin, about Boise, whatever it is, use that as your superpower to attract people.
Yeah, I think that's such a great point that I really believe that the black townships to get we have 13 or so consistence in present day, there really is such an amazing opportunity to tap into the deepest of these communities. They are historic, there is local and national attention on these towns. A lot of these towns have a beautiful abundance of nature and green space and somebody different unique elements to their story a lot of commonalities, but each tower has its own unique experience in that kids and just the way that they will come into formation. And so I think there's so much potential in kind of drilling down to understanding what are those human factors in a tap? And how do we leverage that through Israel and start thinking about bringing in revenue and economic development right. All right. I love it is kind of just as when requesting material was the audience but the fitness component right I think we trails made a great point, our automatic response and thought processes fitness and recreation, but there's so much potential into your point. You know, we have to stop thinking about green space and trails in isolation. But what kind of helped catalyze that vision for you all how did you think through okay, this is a trail there's also more than that it can be more than that bring more business with me. Beyond walking on recreation, but actually helped develop it. How did you all have the foresight or what would be the approach in transitioning or elevating the trail to be this catalyst that's bringing development so we resources
we're kind of lucky,
to be honest, is to be taught to the visionaries behind the Beltline? Yes, we wanted that economic impact. We have as a part of our responsibilities if it is the creation, or we facilitate the creation of 30,000 permanent jobs along the Beltline. That was that was key. But it wasn't like that in the early days. It wasn't like that in the early days, people like Office project. I mean, so I'm giving you a lot of glamour stories. But there were lawsuits about Oh, my God, you can't We can't do this. There were people that just thought it was a boondoggle project. Outline, and then even our funding source, which is a tax allocation district, you all may call it a TIF in Oklahoma. But that was in a lawsuit valid as well. Can we actually do that in the city of Atlanta. We have businesses that were relatively close to the Beltline. In the early days. These were warehouses and other shops and they actually turn their backs to to the Beltline meeting is ugly, the entrance to their facility. They closed up shop, we don't know who these people are walking by our business. That was some of the early conversation for the Beltline. So it was a little bit tongue in cheek here but there really was some some love and some great planning to but once people started to see that we did that first segment of the east side trail. It caught wildfire and all of a sudden you have these buildings, these facilities being redeveloped into other pieces to restaurant rooms. You had to laugh because I saw all of these people is demand for this. And so even in mindless lands on I consider myself to be an economic developer. We did not fully respect green space as an economic development. But now we have this whole trap of people that focus solely on what we describe as green space, lead economic development, using our parks or trails as a way to attract investment. So to answer your question, it was it was definitely planning but a whole lot of luck. And then going back to those original slides, you know, talking about why Atlanta and what's happening that people are just moving there are airport, the high tech jobs, the banking jobs and real estate jobs. A lot of boats are moving to Atlanta, it was just picked up the van and they were just looking for that type of property.
Now also think it's really smart to take the very incremental approach is trying to build it all overnight that phasing it out in a way where people can see okay, this isn't working I want now at this time I can be and leaving space for people to continue to inform the process of what we're one friend the Beltline isn't on the other side. It really being responsive to the people who are living and working around these different areas, but also giving the community time to build up an appetite for it. Right didn't have to all be built in one year. Overnight. All right. Well, do you have any questions for our audience? Okay, we have a couple of them right arising they're meant to livery conversation, the first doctor.
Thank you. Fantastic presentation and I'm really enjoying your chat. My understanding is and I managed to do a couple cities neighborhood revitalization program. I would love to hear what your relationship was like with your organization and how city government has been able to help facilitate some of this.
So yes, so we've got an organization that I run is mining, and as I mentioned earlier, we're about a seven person team. Our annual budget is almost $200 billion. And so but we've grown into that space, because we are a cousin to municipal government in the city of Atlanta, so the mayor of Atlanta sits on my board I work very closely with the parks commissioner. public works commissioner said they are very intertwined. So if you think about our program, we are supposed to be in existence until let's say 2030 And then our organization then goes away, and in those physical assets are turned over to the city of Atlanta. So we build so we plan, design, construct, build, and program, but ultimately, the city of Atlanta is responsible for maintenance because our dollars cannot confuse or for me, it's our tag, that's a state regulation. And so ultimately, the end of 2030 all of these assets will be handed back over to the city. And the whole deal structure is I know it's scary right.
Now, let's see No, that's also a political conversation too. Is that actually going to happen? 2030 years from the date of the deal structure is that the BeltLine, the county, the city and the school system, all essentially contributed a portion of their property taxes to build out the Beltline. But the value is so low, let's say I'm just giving round numbers. The beltline corridor was collecting let's say $100,000 a year in property taxes. So when we told the city, the county, the school, give us a portion of those taxes. We'll use those to redevelop the BeltLine, get it started, and give us about a 25 year 30 year runway and we'll hand that back over to you. So so that $100,000 a year in collection is about 100 million today. So you think about the return on investment that those municipalities are receiving. And I want to say by the end of 2030 I don't know this for sure, but it will be probably $200 billion of taxes around the Beltline collected so they'll go back to the school system. They'll go back to the county they'll go back to the city. So it's been a great fit because it wasn't just it wasn't there because of the use of these cuts. Thank you.
point about occasions Placement Assessment and a new slide we have done legacy residency programs. So I'm curious about that. How is that funded? And then is it transferable? Because I think with a lot of these programs, is the loss of generational wealth.
That's, that's a great question. And so it's funded by by providing dollars, so it's not funded by our tip or Tad, the Bank of America. Duke, Georgia Power. What's your foundation Google so a number of these these private companies have helped us to create this fund and were able to pay again off the shoes of grandmas taxes for for her and we have a 10 year one. So the goal is that we'll find a state of Georgia policy fix in that time. We don't have enough money to do that in perpetuity. We have enough money for for about about 10 years. And yes, it is transferable. This money is not paying back. It is truly a grant to that individual that owns that homestead home, but the challenge is getting people to actually sign up for it. Believe it or not. It sounds too good to be true, right? But you imagine somebody knocks on your door Hey, I'm from the government. I'm here to pay your taxes. That sounds realistic. So it's a lot of community engagement before we even launch programs and I was sharing with NASA and Enron that the largest department in our organization is engagement. We don't chew gum without having a conversation with our community partners. And so it's a lot of trust and we got to get it sounds like a great program. But we still aren't fully subscribed. Yet it just it takes a while for people actually believe believe in the program.
Just to follow up with that program, like whatever the final version would that transferred to December? Because to me that's one thing that's important, but also even protecting generation.
And as we'll be subscribed to that mindset, for a lot of families is the way to create wealth and to pass down. So so yes it is to their to their heirs.
Hi, I'm Cheryl Lawson from Tulsa, North Tulsa specifically and this district which is a new development community in a community neighborhood project that we've started the rail trail Oh side trail, the trail runs through our district. And so now our interest is just kind of creating a main street and you know, activity around the trail. What was the first thing that you know what kind of feasibility studies did you do to say, this will be the first project along the Beltline? Yeah,
that was a big community and ultimately was the east side, but it was because it was ready to go. So as we talk about it, I didn't share this in my presentation. I didn't give enough credit to the railroad company, because ultimately they have to be willing to sell Norfolk Southern CSX others and so it was really based on what we actually control at the time. So we had this great vision for this 20 mile a day within the city, that we'd actually own all the land that we own about 95% of the entire corridor for the belt, and it was rough and tumble negotiations with CSX and Norfolk Southern. My track on Southern has just relocated from Virginia. And now they're headquartered in Atlanta just to give you that onset, but it was really based on what was available to us. But that also created a really rich community conversation because on the west side of Atlanta, which is historically African American. They started on the east side. It's not going to come to the west side that that was a little bit of love and dialogue and never get to the west side. And so it's very important to us after we finished on the east to go directly to the west to really create that trust for community that we're going to do this in a very equitable manner. And so that's what we've done on the east side. The west side now we're focusing on the South Side portion. Of the belt. So that's really looking forward to the swelling actually controlling
the ball that was a engagement piece when for how to know how to do what's best next.
Absolutely. So just going back to that point about, about community, the community really leaves a lot of our decisions, you know, just based on you know, some boundaries, and once you share with the community like hey, X y&z available to you. They'll tell you exactly what they want. And so that was really led by community, but also on the land that we've controlled. And so you heard a bunch of DSW about our sub area magic land and it's just a number of activities that were community led. And in Atlanta, we have something called interviews. So our famed Mayor from the 70s, the first black mayor for the city of Atlanta, Maynard Jackson created the neighborhood. And centrally this one was an outward, where real estate developers could just not go into a neighborhood and develop whatever they want. You actually have to get a boat from this view before it moves over. To the city and city council, and so on. So lots of engagement within the US and other neighborhood planning organizations to help us make those decisions
about affordable housing.
Is there just for small businesses?
That's a great question. Yeah. So it's 20% or more affordable housing. 80% of area median income. So roughly, that means about $55,000 Someone who makes $55,000 is roughly at 80% of our area median income. And so if you could, I'd suggest that you should not be spending more than 30% of your income on housing. So that's a little bit of a map that we use for for housing affordability. And so if you have a Bounders, over beltline early days have as part of our business we have to do commercial affordability, not so that's something that we actually put back into the plan, maybe for four years. And so I'm an economic development guy. And I just told the team I told my board this is something that we need to focus on. And so we're trying to get to about 10% of new space that's developed on the Beltline empathy in that that commercial and we've been used the same transaction like we do for multifamily housing, will provide a grant to a developer to say hey, you can keep this 10,000 square feet of space, affordable for let's say, 10 years, and they'll give you a grant of a million or 2 million whatever that comes out to. And so that's the program that was not a part of the original responsibilities. That's something that we instituted almost four years ago.
We do and we have made some very substantial promises from a beltline perspective. Again, this is what has happened. But we had a major funding event roughly three years ago called a special service district. It helped us to raise about $150 billion through this tax assessment that we also got from the private philanthropic community, that gave us the confidence that we know that we can actually complete the whole beltline loop by 2030. Like originally, we can do minority and women owned businesses by a similar oppressive most people say that I can't make that happen. There's not a businesses out there to the best, but that's all. We have. To your other question. We have about 4000 small businesses that are somewhere along the catchment area of the Beltline that means half a mile on either side.
My question was about light rail for any type of I saw streetcars on your slide obviously are there plans to make the whole alibis?
Again? I appreciate that question. That is probably the most tough question that we're being asked right now. So just to give you a little more context, the Beltline was originally about a light rail system around the city, a loop and then to Crosstown alignment. And at the time because of lawsuits and people thought it was a boondoggle. We did not have the light rail around the around the BeltLine, because only two is a trail. So we just started with the trail and because we couldn't afford it. And because it's been such a wild success. Now people are like, oh no I want that light rail near the mouth. And so that is something that we're debating right now. We're working with Marta in the city, and we're going to be able to bring in lease rail to the BeltLine, and we're going to debate it, we're actually going to have a rail on the Beltline. or adjacent to the belt. But that's that's the challenge. People have gotten used to the current conditions and it's it's a hard conversation right now about new construction disruption and our businesses are thriving. They really want to hear about three year construction project near their business and it's challenging I
think we have time for a couple more questions that are gonna run questions from the audience.
Great presentation. I will say you see very few of us in Atlanta on May 11. That's commencement. Where do we have a new? Yes, graduated glamour. Somebody's one question. If you were commencement speaker, what's one piece of advice to students for their being able to go on and be over version five?
We don't want to do this. When you can be better than me. First of all, I will say just never get to a space where you think you know never get to a space where you think you know. I am blessed being the leader and CEO of a downline but i don't know i literally learned something new every day from from people that work. On my team. I know what I know. But I also know what I don't. And so as you think about these opportunities to work in communities, making sure you have these multi disciplinary teams around you that sounds like a catchphrase but it really makes sense. And it's a beautiful thing.
People in my organization
download restriction with a focus with on community but that's my back. And so So respecting other disciplines and making sure that German American other people I think is absolutely key in understanding what your own superpower because I'm very aware of what I'm good at, but also where what are the gaps around me. But I have people that do things and my gaps, but it's their superpower to bring them around. But never get to a place where
I have so hate giving you what that time like I'm guessing like most of the students will be like inspiring but I would like the anonymous project and all the work you're putting into implementation but how can like students or like young professionals contribute and what are the opportunities there? For students and young professionals?
Yeah, students are really unlikely and if you look at the demographics of our organization, most people are below 30. I'm just saying but last year we hosted about obtain and journalists that the amount of Delphi that they ran in high school students, to recent graduates, and that experience to be as short as a month, all the way to a year and we must pay as well. So those students were making an average of 70 cents an hour to work for for the Belmont. So look out for those opportunities. I'm gonna be talking to Dean and Ron the VESA about opportunities for medical students to come to Atlanta.
Hello, my name is Joseph valet. I'm one of the design students. My question is about the affordability or the development. And you mentioned that you have a committee that reviews the developers once develop the mind for the affordability question, do you make it a requirement or a preferred rate from 20%? Or the affordability house? Like what is the difference? Like do you make it a requirement? developers know that they committed they have that 20% Or would you prefer that and look for that throughout the committee's if that makes sense.
Does it make sense? That's a terrific question. And we have something that Atlanta called inclusionary zoning. And so this is an experiment that if you are a developer of multifamily residential, along the BeltLine, it's a requirement that you do different percent of your units at 80% of area median income or if you do 50% of your units at 60%. of AMI. So it's required now that's why you know and give a shout out to your current mayor. He actually ran on housing affordability in the city of Atlanta. And so that was his brainchild, and we're experimenting along the Beltline. Now what we need to do is make sure that we do that around the entire city. But there are some questions about is that actually legal in the state of Georgia to require that and so there was a little bit of back and forth there, but it hasn't got a whole lot of challenge because people think they understand it now. Again, do you want your teacher to have to drive an hour and a half one way to get into the city to know he or she should be able to to live close to 20? That's a great question.
Yes, that's a little more or less.
Thanks again, most of my questions were answered. So that was nice. One of the videos I really love that you said that you space out by themselves is that you have a lot of money for infrastructure. That is wasted. So I think that's nails. But we're talking about legacy and I think that's very important. But how about the businesses that are currently in that zone they were saying that affected by the construction portion of the Diablo Legacy Fund, bringing those small businesses to get displaced there's no access to their business during that time of construction backs up.
Yeah, that's a great question. And the answer is no, we don't. And we're thinking through that. But fortunately, for the most part, there has not been a whole lot of disruption outside of the east side trail because remember, on the east side, they had they didn't want anything to do with the Beltline. They essentially closed their doors and I don't know what they're doing back there until they started seeing all that foot traffic. Then they flipped. It's interesting. You go to the BeltLine, and you walk Lee parts of the market you're walking, the businesses literally flipped their entrance so that people have walked on the Beltline and then walked into their stores or to the restaurants and it's it's an interesting sight to behold. Now going on the west side of the Beltline is decidedly different. So it is mostly a residential, single family residential neighborhood we're going through on the west side. So from a disruption from a business perspective, not not so much but you obviously have homeowners that give us a call and say hey, you just vibrated our home and yet, we get those calls a lot and we address them in a fair way. But but not so much on the west. But when we go up to to the north west portion of the BeltLine, so roughly 10 o'clock on the dial, that's something that we have to think through. So this doesn't mean anything to you, but just imagine that there is a group of black owned businesses in the street district of Atlanta, and they don't own their buildings, right they just operate. And so now on the Beltline is coming through there,
think about what the property owners are going to think about my
love for you but you're paying $10 a square foot and now the Beltline is coming we know that we can probably get $40 A square and so that's what our community engagement team is doing is working with those property owners and small businesses to make sure that they have the ability to stay whenever we get there for for construction. And most property owners want to do that. They want to figure that out. You just have to help them address that financial gap. And we have the means. And that's why we are very thankful to our congressional delegation, our philanthropic community that write us those big checks because it gives us the ability to address some of those challenges. We just We just got a number thicky million dollar grant from USDA 80 degree expert trail from the southern part of the Beltline all the way to our area. So you'll be able to get on the Beltline. You can ride your bike the north east part of the BeltLine, all the way to Alabama through a skirt trail coming back in on the Beltline going through Tyler Perry studio, which is great and the belt on closet right through the studio all the way to the Atlantic.
It says I'm really excited for next week in my class and we're actually going to have some folks from Muskogee so they have recently completed a trail plan to really create this larger network inside of the community and outside so we're speaking with the scoby is seeing our records and possibilities for tax expansion. So thank you for your lecture a couple weeks ago that helped us kind of think that this was relevant around the positive
I can see Tina for you all for me today. I hope you enjoyed it all and I can still run Instagram Facebook in LinkedIn platform so stay in touch. Have a great day. Thank you for being here.
