Atlanta Falcons Secure Deal to Build New Stadium
March 8, 2013
The Atlanta Falcons and the City of Atlanta have agreed a deal to build a new home for the NFL franchise, generic according to reports.
Talks of building a new retractable-roof stadium in downtown Atlanta to replace the Georgia Dome have been going on for months, price viagra but Atlanta Mayor Kasim Reed and Falcons owner Arthur Blank announced a deal to move forward during a Thursday afternoon news conference.
Reports suggest $50 million would come from the Falcons, Blank would chip in $15 million more from his foundation to renovate the areas adjacent to the new stadium, and “Tax Allocation District funds” would account for an additional $15 million.
The total cost for construction is $1 billion, and the reports states that “the Falcons and other sources” will pick up much of the tab, with the “maximum public contribution” capped at $200 million.
The Georgia Dome just completed its 21st season after opening in 1992. The building was a state-funded project and is still owned by the state of Georgia.
The stadium has had its issues with the Atlanta weather in the past. The roof partially collapsed after a storm in 1995 and suffered more structural damage during the 2008 SEC basketball tournament.
A new venue would allow the Falcons and the NFL to introduce another state-of-the-art facility, and Mayor Reed believes that the construction will benefit the city as an added source of jobs.
The report notes that there will be “at least 31 percent participation in design and construction by women and minority business enterprises,” according to the terms of the deal between the Falcons and the City of Atlanta.
There are still certain aspects both parties have to iron before construction can begin.