A finance plan for a new football stadium for the Atlanta Falcons calls for the city to commit its hotel tax through the year 2050. Last week, the team reached a deal with the city to build a new retractable roof stadium to replace the Georgia Dome.
An expert in architecture told city council members the city should ask Arthur Blank to make the new stadium special. If the football team included a park or year-long experience for young people in the design, it could be done without much extra cost.
"A truly exceptional stadium is one that I think the Falcons probably want and the Georgia World Congress and authority probably wants to operate. It needs to be exceptional in as many ways as possible, and that will only increase the value of the fan experience," said Georgia Tech's Benjamin Flowers.
Some key details in the financing plan were delivered to council members late Wednesday. The projected cost is $948 million. The city is to pay $200 million through hotel taxes, and $748 million is to be supplied by the team.
In addition to the construction cost for the stadium, $20 million is to be set aside for land acquisition, $50 million in street improvements, and owner Arthur Blank will contribute $15 million for neighborhood development.
The mayor made it clear in earlier comments that the $200 million in public money will not be exceeded. If for some reason the taxes don't live up to projections, then the bond holders, not the city, will be on the line to pick up any of the extra cost.
The Georgia World Congress Center Board of Governors will be discussing the stadium proposal during a meeting on Friday.
Friday, May 17 2013 11:45 PM EDT2013-05-18 03:45:14 GMT
Atlanta Falcons general manager Thomas Dimitroff biked his way to work on Friday. Dimitroff rode from Buckhead to The Georgia Dome as part of "National Bike to Work Day."
Atlanta Falcons general manager Thomas Dimitroff biked his way to work on Friday. Dimitroff rode from Buckhead to The Georgia Dome as part of "National Bike to Work Day."
Justin Upton gave Atlanta the lead with a sixth-inning grand slam and the Braves finally unveiled their full-strength lineup, beating the Los Angeles Dodgers 8-5 on Friday night.
Justin Upton gave Atlanta the lead with a sixth-inning grand slam and the Braves finally unveiled their full-strength lineup, beating the Los Angeles Dodgers 8-5 on Friday night.
Dick Trickle, a former NASCAR driver whose larger-than-life personality and penchant for fun won him legions of fans despite a lack of success beyond the nation's small tracks, died Thursday of an apparent...
There is that lasting image of Dick Trickle in the Winston 500 lighting up a cigarette while driving his stock car with his knees during a caution lap.
Major League Baseball hopes to expand video review by umpires for the 2014 season and says all calls other than balls and strikes could be subject to instant replay.
Major League Baseball appears set for a vast expansion of video review by umpires in 2014 and is examining whether all calls other than balls and strikes should be subject to instant replay.
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