|Financing terms reached for new $1 billion Atlanta Falcons stadium|
|Written by BILL BARROW, Associated Press|
|Thursday, 07 March 2013 16:26|
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.
Copyright 2013 The Associated Press.
Front Page Stories
|'Actors' lap up stardom
04/19/2014 | DAVID DUPONT Sentinel Arts & Entertainment Editor
Margot (performed by Madison Zavitz) interacts with Bruiser (performed by Nugget). (Enoc [ ... ]
|Elmwood graduate Trevor Lee shares his Yosemite experience|
04/19/2014 | JORDAN CRAVENS Sentinel Staff Writer
Trevor Lee has traveled to 40 states, and most recently spent 10 months at Yosemite Nati [ ... ]