|Financing terms reached for new Falcons stadium|
|Written by Admin|
|Thursday, 07 March 2013 10:15|
Atlanta Mayor Kasim Reed and Falcons owner Arthur Blank announced the financing deal Thursday at a news conference along with the Georgia governor.
Reed says the public contribution to stadium construction through hotel-motel tax revenue will be capped at $200 million.
He says the city will provide $15 million toward the stadium. He says the Falcons will pay $800 million and an additional $50 million for infrastructure-related costs associated with construction.
The franchise is also responsible for paying for any budget overruns.