Mayor Promises to Cut Costs for Bond Payments

Atlanta Mayor Kasim Reed has vowed to enact a savings plan proposed by a committee that should allow the city to make yearly payments on a proposed $250 million infrastructure bond that could be on a ballot next year.

The Atlanta Business Chronicle reports that the majority of the $21 million in savings would come from selling surplus property like Underground Atlanta and cutting costs by enacting a hiring freeze and eliminating open city positions.

Selling Underground Atlanta will bring the city about $8 million in revenue, and another $3 million in savings is expected when the city transfers some employees to a building on Marietta Street. These employees will be consolidated into the Marietta Street building, a process which began when the city sold City Hall East.

In the long term, Reed says savings will come through healthcare reform, better budgeting, and possibly adding advertisements in public spaces.

Residents who want to make their thoughts known about the projects they would like to see tackled by the infrastructure bond if it is approved can attend any one of a number of public hearings which will be held until February, 2015. Additionally, the city is accepting comments and suggestions through their website.