Despite eight Atlanta City Council members signed on as sponsors to require an outside audit of the massive redevelopment of The Gulch property, the legislation failed during Monday’s meeting.
According to the AJC, only eight council members, a voting majority, were needed to pass the legislation, but three council members, including one sponsor, were absent from Monday’s meeting. Another co-sponsor, Michael Julian Bond, had left the chambers and was not present for the vote. The motion failed by two votes.
During September’s meeting, the council listened to more than four hours of public outcry against the project and many council members have expressed concerns themselves about the city’s investment in the deal.
Los Angeles-based CIM Group wants to build a massive mixed-use development on the 40-acre warren of below-level parking lots and rail lines adjacent to Mercedes-Benz Stadium using public funding – money from the city’s sales tax and future property taxes – that could reach as high as $1.75 billion. Mayor Keisha Lance Bottoms and Central Atlanta Progress have touted the benefits of the project, which would include offices, homes, hotels and retail. The site has also been promoted as a site for Amazon’s second headquarters complex.
The city council is expected to take up The Gulch project again at its Oct. 15 meeting.