Li Ze, Hou Yingyu

Keywords： Urban Abandoned Railway Renewal; Financing Mechanism; Tax Allocation District; Atlanta Beltline; Urban Redevelopment; Planning Implementation

Abstract：

In the post-industrial era, there has been a worldwide upsurge of urban renewal promoted by abandoned railways. In Atlanta, the transformation and utilization of its abandoned railway line connecting 45 blocks effectively drives regional revitalization. This paper takes the successful implementation of Atlanta Beltline as an entry point, explores its mechanism, and focuses on one of its important financing models: the tax allocation district policy. By interpreting the related economic and legal literatures, this paper clarifies the history, the formulation, and the function of the tax allocation district policy, and discusses its application in the Atlanta Beltline. The tax allocation district policy, through designating a geographical area around the Atlanta Beltline, used the property taxes to fund the revitalization projects in the district, thus ensured a smooth project implementation. Furthermore, the policy improved the overall infrastructure and environmental quality of the district, which in turn attracted more private investment into the revival of the surrounding area. The research on the application of tax allocation district policy in the Atlanta Beltline has provided certain inspirations and lessons for the progressing of abandoned railway renewal and its economic model in China. 

Funds：

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