Financing terms reached for new Falcons stadium
by Bill Barrow, Associated Press Writer
Mar 07, 2013 | 587 views | 3 3 comments | 2 2 recommendations | email to a friend | print
ATLANTA (AP) — Officials say financing terms have been reached for the Atlanta Falcons’ proposal for a new $1 billion stadium in downtown Atlanta. The Atlanta City Council must now vote on the proposal.

Atlanta Mayor Kasim Reed and Falcons owner Arthur Blank announced the financing deal Thursday at a news conference along with the Georgia governor.

Reed says the public contribution to stadium construction through hotel-motel tax revenue will be capped at $200 million.

He says the city will provide $15 million toward the stadium. He says the Falcons will pay $800 million and an additional $50 million for infrastructure-related costs associated with construction.

The franchise is also responsible for paying for any budget overruns.

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Comments
(3)
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Vorant
|
March 08, 2013
What you left out was a 30% women and minority participation requirement. Tell you what, lets limit women and minorities to only 30% of available jobs and higher education. Just to be fair....(sarcasm)
Reply
Pelican brief
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March 07, 2013
OMG! I can't believe the Falcons are bypassing Cobb County for their new stadium...! I mean we have ample public transportation...err no ..ok we have the right infra structure...ahhh strike two, wait we have... haha

Cobb come into the 21st century and maybe someday you will be relevant.
Reply
Realist Eyes Open
|
March 08, 2013
Keep that stadium (& congestion & cost) as far from Cobb as possible. Not everyone wants to be as disfunctional as City of Atlanta....
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