Atlanta Downtown Improvement District (ADID)
Strategic Financial Advisory Services for the Stitch
InfraStrategies conducted a project financial assessment, recommended key financial strategies, and developed a preliminary financial plan for the Stitch, a $700 million transformative highway cap project located in Downtown Atlanta. Based on this review, the team identified several key federal, state, local, and private opportunities that could be pursued to advance the project into planning and engineering, fund capital construction, and/or support long-term operations and maintenance costs. Short-listed federal funding opportunities included the USDOT Rebuilding American Infrastructure with Sustainability and Equity (RAISE) grant program, Community Project Funding, and the USDOT Reconnecting Communities Pilot grant program. The Stitch has since received a total of $3.2 million in federal funds from these three opportunities over the past two years to advance the project further into design.
InfraStrategies supported the ADID in preparing and submitting a USDOT RAISE planning grant application for the Stitch, which resulted in a successful $900,000 RAISE planning grant award in November 2021. The Stich used the $900,000 RAISE grant award to advance the Stitch and conduct a robust planning process. In March 2022, Congresswoman Nikima Williams (GA-05) announced a $1.16 million award in Community Project Funding for the Stitch. This funding is being used by the ADID to advance the project into the concept design and engineering phases. Just one year later, in March 2023, the Stitch was awarded a $1.1 million Reconnecting Communities Pilot program grant award.
Atlanta Downtown Improvement District (ADID)/Central Atlanta Progress (CAP)