The Atlanta Falcons have reached an agreement with the city’s mayor on “key aspects” for a new downtown stadium.
Falcons owner Arthur Blank has been pushing for a stadium to replace the Georgia Dome for several years and this is another step toward making that a reality, according to Tim Tucker of the Atlanta Journal-Constitution.
It is not a final hurdle, though, as the City Council still has to lend its approval, among other issues that remain unresolved.
In the deal, the public contribution for a new stadium would be capped at $200 million, and that would be funded by a hotel-motel tax in Atlanta and Fulton County. Per the report, the Falcons would be responsible for $50 million in infrastructure costs related to the stadium and the Arthur Blank Family Foundation will invest $15 million to help projects in neighborhoods near the stadium.
“We appreciate the mayor and his staff’s diligence in moving the agreements for a new stadium toward completion,” Blank said in a statement. “We are grateful to the members of the Atlanta City Council who have given us the opportunity to address their questions or concerns, and we will continue to work with the mayor, city council, Invest Atlanta and our partners at the Georgia World Congress Center in reaching final agreements.”
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Brad Biggs covers the Bears for the Chicago Tribune