August 30, 2021
MARTA JOINS FULTON COUNTY
IN SUPPORTING SMALL, DISADVANTAGED & MINORITY-OWNED BANKS WITH COVID RELIEF
ATLANTA – The
Metropolitan Atlanta Rapid Transit Authority (MARTA) Board of Directors
Business Management Committee has unanimously approved a resolution that
encourages depositing a portion of the funds received through various pandemic
relief acts with small, disadvantaged and minority-owned financial
institutions. The resolution will be considered by the full Board on September
The brainchild of
Fulton County Chairman Robb Pitts, similar legislation was approved by the
Fulton County Board of Commissioners in June that has resulted in a $10 million
investment with two minority-owned financial institutions in Fulton County.
Chairman Pitts’ leadership on this issue,” said MARTA General Manager and CEO
Jeffrey Parker. “This investment will ultimately benefit the people in the
communities MARTA serves by making more money available at minority-owned banks
for small business or home loans.”
“The Fulton County
legislation was the catalyst for this opportunity and MARTA will work to expand
it to disadvantaged and minority-owned banks in our partner jurisdictions that
meet our investment policy guidelines,” added MARTA Board Chair Rita Scott.
taking this step, MARTA showed that it is more committed than ever to
supporting minority-owned financial institutions and the communities they
serve,” said Chairman Pitts. “This is a great moment for MARTA and all those
that will benefit from this momentous decision.”
Disadvantaged Business Enterprise (DBE) goal is 23 percent, which the Authority
regularly exceeds when rewarding Federal Transit Administration-assisted
contracts. MARTA has awarded $269 million to DBEs the last three fiscal years.
MARTA also encourages its vendors to use minority-owned financial institutions.