New stadium deal terms released

Written By Kom Limpulnam on Senin, 10 Desember 2012 | 23.17

ATLANTA -- The Georgia World Congress Center Authority unanimously approved terms for a new Falcons stadium Monday morning.

Ask your questions about the new stadium here. We'll get them answered on 11Alive News Tonight.

Several key questions remain, including the stadium's location. Two sites are still under consideration. The design of stadium and its surroundings would depend on which location is picked.

The cost is also up in the air. Monday's terms projected a price tag just under $973 million, based on the costs of other retractable roof stadiums. The actual cost could end up being higher. Previous estimates were as high as $1.2 billion.

Somewhere between $270 million and $313 million of that would be covered by taxpayers, through the hotel/motel tax; 39.3 percent of hotel/motel tax revenues would be dedicated to the new stadium.

The entire deal hinges on legislative approval of increasing the GWCCA's borrowing cap to cover costs up front instead of waiting for hotel/motel dollars to come in. Without that approval, the whole stadium could be scratched.


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