Because of the ongoing incompetence in Atlanta, some in Buckhead want to de-annex and reincorporate as the City of Buckhead.
“It will bankrupt Atlanta,” said Sam Massell, president of the Buckhead Coalition, a business and community group, and a former Atlanta mayor.
Massell and others say talk of creating a city of Buckhead is not a new idea — it is usually discussed around the water cooler but never as an organized effort.
“It was a difficult decision to make, but the financial mismanagement of the city left us no choice,” said John Sherman, the foundation’s president.
Atlanta government has a $60 million budget deficit in its current fiscal cycle and is grappling with a projected shortfall of about $140 million for the fiscal year starting July 1.
City officials blame the problems on the sluggish economy and higher pension, health care and fuel costs. They also admit some budgeting errors and poor long-standing practices contributed to the problems.
Buckhead has over $72 billion worth of assessed property. Wow!