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.
Ramiro Pena had a tiebreaking sacrifice fly in a four-run eighth inning, Jordan Schafer drove in two runs and the Atlanta Braves rallied against the Los Angeles Dodgers' beleaguered bullpen for a 5-2 victory on...
Ramiro Pena had a tiebreaking sacrifice fly in a four-run eighth inning, Jordan Schafer drove in two runs and the Atlanta Braves rallied against the Los Angeles Dodgers' beleaguered bullpen for a 5-2 victory on a...
Tony Parker had 20 points and nine assists, Kawhi Leonard scored 18 points and the San Antonio Spurs struck first in the Western Conference finals by beating the Memphis Grizzlies 105-83 on Sunday.
The San Antonio Spurs opened the Western Conference finals resembling the past champions who've been there so many times before.
Sunday, May 19 2013 7:22 PM EDT2013-05-19 23:22:55 GMT
Jimmie Johnson's NASCAR success this year has also meant good things for his pit crew. And it just so happens that crew includes a former High 5 football star: Tucker grad Andrew Childers.
Jimmie Johnson's NASCAR success this year has also meant good things for his pit crew. And it just so happens that crew includes a former High 5 football star: Tucker grad Andrew Childers.
Evan Gattis and Andrelton Simmons hit consecutive homers off Kenley Jansen in the eighth inning, and the Atlanta Braves rallied to beat the Los Angeles Dodgers 3-1 on Saturday night.
Evan Gattis and Andrelton Simmons hit consecutive homers off Kenley Jansen in the eighth inning, and the Atlanta Braves rallied to beat the Los Angeles Dodgers 3-1 on Saturday night.
The Atlanta Braves have placed left-hander Eric O'Flaherty on the 15-day disabled list with a left elbow strain and called up right-hander Cory Rasmus from Triple-A Gwinnett.
Braves general manager Frank Wren says left-hander Eric O'Flaherty has a torn ulnar collateral ligament in his left elbow.
Right from the start, a horse trained by one not so over-the-hill Hall of Famer and ridden by another took control of the Preakness. The result: a huge upset and the end of any hopes for a Triple Crown attempt at the Belmont...
By PAUL NEWBERRY AP National Writer The son of the U.S. national swim team director is reporting that Michael Phelps is planning a comeback for the 2016 Rio Olympics.
By PAUL NEWBERRY AP National Writer Is Michael Phelps planning a comeback?
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."
