The Atlanta Falcons' proposed new stadium has taken a large step towards being a reality following the Atlanta City Council's vote approving a financing plan.
The council voted in favour of using the city's hotel-motel tax revenue to cover the $200 million public contribution for the proposed $1 billion, retractable roof stadium for the NFL franchise. The team would provide the remaining $800 million.
The board of the Georgia World Congress Center Authority voted unanimously Friday to move forward with the stadium plan, entering into an agreement with the city and the Falcons.
Atlanta Mayor Kasim Reed and Falcons owner Arthur Blank agreed this month to financing terms of the project, which would replace the 20-year-old Georgia Dome. The new stadium would be built near their current home. Officials hope to build the stadium in time for the 2017 NFL season.
Posted on 19/03/2013