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Finance committee advances Stitch Special Service District; committee seeks explicit council approval for any bond financing
Summary
The committee approved ordinances creating the Stitch Special Service District and authorizing project implementation, including a 2-mill SSD levy estimated at roughly $3.5 million in 2025; members asked that any future bond issuance using SSD revenue be returned for formal council approval.
The Finance Executive Committee voted on April 7 to advance a package of ordinances establishing the Stitch Special Service District (SSD) for the Stitch park-and-connector project and authorizing implementation steps, while attaching conditions that any monetization or bond issuance tied to SSD receipts return to full council for approval.
Sponsors listed on the ordinances included Councilmembers Faroqi (spelled in the meeting transcript as Faroqi), Winston and Dozier. The substitute ordinances moved at committee authorize the city, the Atlanta Development Authority (AURA/Invest Atlanta), and partner organizations including the Atlanta Downtown Improvement District (ADID) to proceed with the Stitch project within the SSD boundaries and to prepare an intergovernmental agreement (IGA) and related documents.
Project and financing details presented at the meeting: Jack Seby, director of the Stitch for…
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