On October 27th, 2023, MARTA secured a $1.75mm grant from USDOT to fund a “transit-oriented development (TOD) accelerator.”
Simply put, this accelerator will help MARTA close funding gaps for expansion. A combination of sales taxes, bus/train fares, and federal funding allows MARTA to operate and maintain its current system, but more funding is needed for newer plans like bus-rapid transit (BRT) across the region.
More funding could be unlocked, for example, through a better understanding of how transit investments will impact future property values. While increases in property tax revenues can be used to finance projects, they can also entice further funding through public-private partnerships or access to Transportation Infrastructure Finance and Innovation Act (TIFIA) loans, particularly if these projects increase transit access to affordable housing. MARTA and GDOT have partnered and will use the grant to investigate these opportunities.
MARTA’s press release also includes comments from CEO Collie Greenwood and Georgia members of Congress like Senators Warnock and Ossoff, Representative Hank Johnson, and Congresswoman Nikema Williams.