The Atlanta Falcons and the city of Atlanta have taken another step forward on Thursday in giving the city’s NFL team a new and improved home in the future, as city officials as well as team officials met together in order to announce the latest on the talks between the two.
One of the major updates given involved the Falcons’ decision to commit another $65 million to ensure the team will have a new stadium sooner rather than later, with approximately $50 million going towards road, sidewalk, utility and other infrastructure work that a new stadium would require. Another $15 million would follow from Invest Atlanta, the city’s economic development agency, for economic development projects in the area.
The public contribution for the new stadium construction is currently set at $200 million, which will be generated through bonds backed by the hotel-motel tax collection by the city of Atlanta. The remaining amount of money would be paid by the Falcons, the NFL and personal seat license sales.
Although this does not guarantee that the Falcons will have a new stadium, it definitely increases the possibility of such an event happening. The team wants a new home field to replace the Georgia Dome in time for the 2017 season, and the current plan is for a $1 billion retractable roof stadium to be built on one of two sites near the Dome, which would then be demolished.
Having more details come out regarding the plan and the public’s interest in it as well as support of political leaders such as Atlanta mayor Kasim Reed, who said that the new stadium “will strengthen the viability of the more than 200,000 jobs that support our tourism and convention business every single day”, makes it clear that the Georgia Dome’s tenure as the home of Falcons football is drawing ever closer to an end.