- Approximately 80 percent of the cost of stadium construction will come from the Falcons and other private funds, versus 100% public funding for the Georgia Dome;
- The Falcons will take on the risk of construction cost overruns, as well as the risk of stadium operating, maintenance and capital expenditures costs. Any excess hotel-motel tax revenues after debt service requirements will be applied to partially offset operating and capital costs of the stadium. This potential offset is not guaranteed and is expected to be a fraction of the Falcons' total expenses of operating the building. This is the same method that has been employed at the Georgia Dome since 1992;
- The Falcons will fund infrastructure costs on the stadium construction site, as well as $50 million in potential infrastructure costs adjacent to the preferred site just south of the Georgia Dome and $20 million for necessary property acquisitions;
- The Falcons and the GWCCA have committed to implementing an equal business opportunity plan for participation in the design and construction of the new stadium, including a minimum goal of 31 percent minority and female business participation;
- The Falcons will work with the GWCCA and Invest Atlanta in developing a plan to mitigate potential negative effects of the development and construction of the new stadium on surrounding communities. This plan will address effects on businesses, traffic and neighboring properties, as well as the identification of opportunities to enhance the area surrounding the new stadium;
- The stadium design will be a collaborative process. A representative of Invest Atlanta will be given full opportunity to review and comment on the conceptual, schematic and construction document stages of the development of the new stadium, and the GWCCA will have approval rights over certain material design elements; and
- The Arthur M. Blank Family Foundation will commit at least $15 million to benefit Vine City, English Avenue, Castleberry Hill and other neighborhoods contiguous to the new stadium. The funds, which will be controlled by the Blank Foundation, are expected to be granted to transformational projects that result in lasting impact. Invest Atlanta will also commit $15 million from the Westside Tax Allocation District (the TAD) to co-investments in the targeted neighborhoods. It is anticipated that planned uses of TAD funds will leverage additional public and private funds.
Atlanta Falcons Commend Georgia World Congress Center Authority Board Of Governors Approval To Execute New Stadium Agreement
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