Atlanta Falcons owner Arthur Blank and Mayor Kasim Reed agree to terms on a new stadium
It seems the city of Atlanta is determined to get a new stadium. Atlanta Mayor Kasim Reed reached an agreement with Atlanta Falcons’ owner Arthur Blank. Under the terms, the Falcons would pay $50 million for infrastructure costs and improvements around the stadium. This is just one of the agreement terms. According to the Atlanta Journal Constitution (AJC):
“..the Arthur Blank Family Foundation would invest $15 million in projects aimed at boosting English Avenue, Vine City, Castleberry Hill and other neighborhoods close to the stadium.
In addition, Invest Atlanta, the city’s economic development agency, would commit another $15 million in tax allocation district dollars for economic development projects in the area.
The terms to be announced today also call for an equal opportunity plan that will ensure at least 31 percent participation in design and construction by women and minority business enterprises.”
While this does not mean that the final deal is done, it does mean they are moving in that direction. There are still approvals needed from the Atlanta City Council, GWCCA board, Invest Atlanta and the Fulton County Commission.
According to the AJC, the public contribution for stadium construction will be capped at $200 million, which would come from the hotel-motel tax collection by the city of Atlanta and unincorporated Fulton County.
Of course, Arthur Blank is thrilled:
“We appreciate the mayor and his staff’s diligence in moving the agreements for a new stadium toward completion,” Blank said in a statement today. “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.”
Mayor Kasim Reed is also happy with the terms he said will revitalize the communities surrounding the stadium and bring more jobs to the area:
“Equally important, a new stadium will lead to the creation of well-paying jobs during its construction at a time when many of our friends and neighbors are seeking employment,” Reed said. “This new stadium will also keep the city of Atlanta at the forefront of the hospitality industry in America as we pursue our goal of attracting 40 million visitors annually. It will strengthen the viability of the more than 200,000 jobs that support our tourism and convention business every single day.”
Mayor Kasim Reed is hoping this new $1 billion stadium will put Atlanta on the map as a host city and also bring another Super Bowl. That being said, many of us Atlantans know that dome or not, the public transportation in this city must be addressed before we host anymore big sporting events.
What do you think?
Your Jersey Girlfriend,