Deal Reached For New Falcons Stadium

March 7, 2013 3:26 PM

Arthur Blank (Photo by Kevin C. Cox/Getty Images)

ATLANTA (AP) — Officials say financing terms have been reached for the Atlanta Falcons’ $1 billion stadium proposal, keeping the team’s home games in the city’s downtown. The 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 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.

http://atlanta.cbslocal.com/2013/03/08/ryan-cameron-interview-with-falcons-owner-arthur-blank/ Ryan Cameron Interview with Falcons Owner Arthur Blank « CBS Atlanta

[...] of 92-9 The Game sister station V-103 interviewed Falcons owner Arthur Blank on Friday morning after Thursday’s announcement that that city and the team had agreed to terms on a new stadium. Mr Blank said that the process will now start to design the stadium and look around the world to [...]
http://travel2atlanta.us/updates-headlines-and-news-inside-atlanta-formar-08-2013/ Updates headlines and News inside Atlanta for Mar 08 2013 : Travel tips, hotels, restaurants, jobs and news | Travel 2 Atlanta

[...] Deal Reached For New Falcons StadiumATLANTA (AP) — Officials say financing terms have been reached for the Atlanta Falcons’ $1 billion stadium proposal, keeping the team’s home games in the city’s downtown. The City Council must now vote on the [...] [...]