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Old 02-07-2013, 09:52 AM
 
10,013 posts, read 7,013,227 times
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Quote:
Originally Posted by ATLTJL View Post
You also have to consider that in order to pay for the stadium the Falcons are going to have to drastically raise ticket prices and price a lot of fans out of attending games.
It is a private business. They will set prices to maximize profit which will be a balance of price and attracting customers. That is how the free market works.

Quote:
Originally Posted by ATLTJL View Post
And if the plan doesn't work and they can't sell the tickets at the higher prices, then who is going to get stuck with the bill if the Falcons default on their share?
Who ever loaned the money to the falcons gets stuck with the bill then and has to find a way to collect. It is a private enterprise. Now, if we keep the dome, which is 100% owned by the state and the falcons decide to leave or the stadium loses money, guess who is on the hook for that? The state.

Minimize the risks to the tax payers. Build the new stadium (and build it at the south location).
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Old 02-07-2013, 10:22 AM
 
734 posts, read 1,781,509 times
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Despite the public opposition to the deal, like others have said the new stadium will be built. I regret the fact the we have created this seemingly permanent culture of using public funds for private sector profit. I will say this though, considering other recent stadiums deals this one is not as bad of a deal for taxpayers as the Falcons could try to make it be with various demands/threats. Just to clarify, how exactly is the hotel/motel tax split and what exactly can it be used for. Correct me if I'm wrong but my running assumption has been that the first 7% of revenue from the tax goes toward paying off the debt on the dome, improvements to the GWCC campus and attracting conventions to Atlanta. The rest is obviously sales tax. Is Atlanta free to do whatever it wants with its portion of the remaining sales tax? Or can it only be used for certain projects?
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Old 02-07-2013, 12:15 PM
 
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Quote:
Originally Posted by ATLHRLGUY View Post
Is Atlanta free to do whatever it wants with its portion of the remaining sales tax? Or can it only be used for certain projects?
I think it is just regular sales tax. Atlanta has 8% sales tax, I think the breakout is: 4% goes to the state, 1% goes to MOST (sewer overhaul), 1% to MARTA, 1% LOST, 1% ELOST.

Edited, found this: https://etax.dor.ga.gov/salestax/sal...Historical.pdf

Not sure what the last two are. LOST = Local Option Sales Tax, I assume. They may be able to go toward anything.
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Old 02-07-2013, 12:31 PM
 
734 posts, read 1,781,509 times
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Quote:
Originally Posted by jsvh View Post
I think it is just regular sales tax. Atlanta has 8% sales tax, I think the breakout is: 4% goes to the state, 1% goes to MOST (sewer overhaul), 1% to MARTA, 1% LOST, 1% ELOST.

Edited, found this: https://etax.dor.ga.gov/salestax/sal...Historical.pdf

Not sure what the last two are. LOST = Local Option Sales Tax, I assume. They may be able to go toward anything.
Thanks for the info. I think I've just been confused as to whether or not all, part or none of the funds could be used for anything other than attracting events to Atlanta.
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Old 02-07-2013, 12:43 PM
 
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Quote:
Originally Posted by ATLHRLGUY View Post
Thanks for the info. I think I've just been confused as to whether or not all, part or none of the funds could be used for anything other than attracting events to Atlanta.


Quote:
Each local government imposing a Hotel/Motel Tax is required to adopt a budget plan specifying how the expenditure requirements of the Code will be met [O.C.G.A. 48-13-50(a)(9)(A)]. Additionally, each local government imposing the tax is required to include in annual audited financial statements a determination as to whether the local government has complied with the applicable expenditure requirements [O.C.G.A. 48-13-50(a)(8)(B)]. This compliance determination must include the amounts expended or contractually committed for expenditure as provided in O.C.G.A. 48-13-50 and must express such amounts as a percentage of tax receipts collected during the fiscal year. Note that O.C.G.A. 48-13-50.2(2) defines “Promoting tourism, conventions, and trade shows” as “planning, conducting, or participating in programs of information and publicity designed to attract or advertise tourism, conventions, or trade shows”
DCA | Hotel/Motel Tax Report

I think the 7% Hotel Motel Tax has to go to "promoting tourism / conventions".
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Old 02-07-2013, 02:25 PM
 
Location: Decatur, GA
4,940 posts, read 3,757,441 times
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So take the $140 million from the stadium and use it to connect Midtown and Buckhead with the World Congress Center with a streetcar. I don't see a better way of promoting tourism and conventions.
If anything, the new stadium runs contrary to that required use. A new stadium won't attract anything the current one doesn't attract.
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Old 02-07-2013, 02:59 PM
 
1,593 posts, read 1,668,275 times
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Quote:
Originally Posted by MattCW View Post
So take the $140 million from the stadium and use it to connect Midtown and Buckhead with the World Congress Center with a streetcar. I don't see a better way of promoting tourism and conventions.
If anything, the new stadium runs contrary to that required use. A new stadium won't attract anything the current one doesn't attract.
It will attract new development. That's something the Dome hasn't done. Also the Dome will be demolished which will allow Vine City to continue it's path towards revitalization. It could attract a Soccer team, a Super Bowl or a World Cup.
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Old 02-07-2013, 04:03 PM
 
Location: Georgia
1,451 posts, read 1,360,230 times
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Quote:
Originally Posted by joey86 View Post
It will attract new development. That's something the Dome hasn't done. Also the Dome will be demolished which will allow Vine City to continue it's path towards revitalization. It could attract a Soccer team, a Super Bowl or a World Cup.
This, really.
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Old 02-07-2013, 07:27 PM
 
2,678 posts, read 5,098,921 times
Reputation: 920
Yes. Seattle got a new football stadium and now has MLS soccer and 40k fans a game.

Quote:
Originally Posted by joey86 View Post
It could attract a Soccer team, a Super Bowl or a World Cup.
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Old 02-07-2013, 07:43 PM
 
Location: Decatur, GA
4,940 posts, read 3,757,441 times
Reputation: 2492
Why can't the current stadium attract a Super Bowl...oh wait, it did. Or a MLS team? Seriously! What is wrong with the current dome that warrants replacement?
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