What is the fundamental issue?

On July 31, 2012, voters will decide by referendum whether to adopt a penny sales tax to fund transportation improvements throughout the 10-county metro Atlanta region (Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Fulton, Gwinnett, Henry, and Rockdale Counties).

The tax is expected to raise $7.2 billion over ten years to fund a mix of road and transit projects, of which 85% is allocated for a specific list of regional projects selected by the Regional Roundtable, and 15% is allocated for local projects to be selected by local governments.  All funds raised in the region will stay in the region and can only be used to implement transportation projects.

I am a real estate professional. What does this mean for my business?

For residential real estate to thrive, we need a vibrant job market. Metro Atlanta has a serious traffic problem, and we also face a transportation funding crisis. If metro Atlanta does not improve regional transportation, congestion will worsen. Other major cities with whom metro Atlanta competes – Charlotte, Denver, Salt Lake City, Seattle, Dallas, Houston, and Phoenix – are already investing in their transportation infrastructure.

To remain competitive in the race to recruit and retain jobs, we must address our traffic congestion problem.

ABR Policy:

ABR supports passage of the Regional Transportation Referendum and encourages its members, affiliates, their clients, and all owners of real property to vote YES on July 31.

Actions and Outlook:

ABR is helping to lead a non-partisan, broad-based coalition of civic groups, business organizations, and concerned citizens working to educate the public about transportation issues that affect the region.

ABR, through the Atlanta REALTORS® Political Action Committee, provides financial support to the campaign that supports passage of the referendum.

Contact:

Robert Broome, robert@abr.org, 404.732.0631