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Old 05-16-2013, 11:25 AM
 
29,247 posts, read 26,188,598 times
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Quote:
Originally Posted by jsvh View Post
Capped at $200M. Falcons pay any overages, Falcons pay expenses to run the new stadium, Falcons pay the GWCC rent. The Dome's cost is 100% GWCC funded and maintained and due for hundreds of millions in renovations and maintenance over the next few years.
Where do you see that?

As I understand it, the $200 million in bonds is for the original construction costs only.

The AJC has reported that the bonds are only a part of what the city will be required to put in.

And of course "public funding" also includes money put in by the state of Georgia and Fulton county, not just the city of Atlanta.

Don't TAD funds involve the school boards as well?
The Arthur M. Blank Family Foundation has committed $15 million toward community development around the new stadium, to be built on one of two sites near the Georgia Dome.

Invest Atlanta is expected to match that with money from Tax Allocation District (TAD) revenue, and it is in charge of crafting a “community benefits” for nearby neighborhoods.

Invest Atlanta — if its board votes yes on the deal Thursday — would issue bonds backed by city hotel-motel taxes for $200 million of the estimated construction costs. Hundreds of millions more in future hotel-motel tax revenue is committed to help cover stadium expenses and interest through 2050.

The board must also approve the use of TAD funds as part of the deal.

Invest Atlanta ready to vote on stadium deal | www.ajc.com
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Old 05-16-2013, 11:31 AM
 
Location: West Cobb (formerly Vinings)
3,615 posts, read 6,482,140 times
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Quote:
Originally Posted by joey86 View Post
South site. They haven't confirmed it yet but the only things that would prevent that are those churches. The south site is much preferred by the city and Arthur Blank and they aren't going to be able to stop the train. If they were talking about razing a neighborhood it would be different... oh wait, they did that with both of our stadiums.
They should move the churches versus destroy them. Even if it costs $1 million to flatbed them out of there or move them piece by piece without damaging stained glass, etc.

I'm glad it's going there. It will help neighborhoods like Vine City, Mechanicsville and Adair Park. The neighborhoods on the North site need less help, aside from English Avenue, and I think English Avenue will be close enough still to benefit.

What are they going to do with the old stadium? Tear it down or give it to GA State?
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Old 05-16-2013, 11:34 AM
 
Location: Georgia
1,462 posts, read 1,421,905 times
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Quote:
Originally Posted by netdragon View Post
They should move the churches versus destroy them. Even if it costs $1 million to flatbed them out of there or move them piece by piece without damaging stained glass, etc.

I'm glad it's going there. It will help neighborhoods like Vine City, Mechanicsville and Adair Park. The neighborhoods on the North site need less help, aside from English Avenue, and I think English Avenue will be close enough still to benefit.

What are they going to do with the old stadium? Tear it down or give it to GA State?
They're tearing it down. Where are people getting this "Give it to GA State" thing from?
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Old 05-16-2013, 11:38 AM
 
Location: West Cobb (formerly Vinings)
3,615 posts, read 6,482,140 times
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It is just me or couldn't they have put it partially overlapping the old stadium after it's torn down? Why do they need to destroy the churches? Is the time between seasons too short to put it up without Falcons being out a stadium? Edit: Oh, is the MARTA right-of-way the issue?

So, are they going to tear down the church on the South side, or move it? I hope move it, since it looks historic.

I also realized the new location will put it a smidge closer to the Vine City MARTA station, which is good.

Last edited by netdragon; 05-16-2013 at 11:47 AM..
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Old 05-16-2013, 11:57 AM
 
Location: Kirkwood
23,247 posts, read 17,451,661 times
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Quote:
Originally Posted by netdragon View Post
It is just me or couldn't they have put it partially overlapping the old stadium after it's torn down? Why do they need to destroy the churches? Is the time between seasons too short to put it up without Falcons being out a stadium? Edit: Oh, is the MARTA right-of-way the issue?

So, are they going to tear down the church on the South side, or move it? I hope move it, since it looks historic.

I also realized the new location will put it a smidge closer to the Vine City MARTA station, which is good.
They are building it south of the current Dome so games and other activities can occur during construction.
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Old 05-16-2013, 12:01 PM
 
Location: Georgia
1,462 posts, read 1,421,905 times
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Quote:
Originally Posted by netdragon View Post
It is just me or couldn't they have put it partially overlapping the old stadium after it's torn down? Why do they need to destroy the churches? Is the time between seasons too short to put it up without Falcons being out a stadium? Edit: Oh, is the MARTA right-of-way the issue?

So, are they going to tear down the church on the South side, or move it? I hope move it, since it looks historic.

I also realized the new location will put it a smidge closer to the Vine City MARTA station, which is good.
LOL!! They can't do demolition AND build a billion dollar stadium in 7 months man. These things take 2-3 years.

It might have something to do with MARTA but I'm sure it has EVERYTHING to do with the fact that the Falcons would be out of a home if the for 2-3 seasons if they tore down the Dome and built right on top of it. They are still in negotiations with the churches right now, so maybe they will agree to just physically move them elsewhere, although the architecture of the churches aren't all that.
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Old 05-16-2013, 12:10 PM
 
Location: Kirkwood
23,247 posts, read 17,451,661 times
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Quote:
Originally Posted by alco89 View Post
LOL!! They can't do demolition AND build a billion dollar stadium in 7 months man. These things take 2-3 years.

It might have something to do with MARTA but I'm sure it has EVERYTHING to do with the fact that the Falcons would be out of a home if the for 2-3 seasons if they tore down the Dome and built right on top of it. They are still in negotiations with the churches right now, so maybe they will agree to just physically move them elsewhere, although the architecture of the churches aren't all that.
The congregation is historic, but not the structures.
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Old 05-16-2013, 12:49 PM
 
10,480 posts, read 7,467,852 times
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Quote:
Originally Posted by arjay57 View Post
Where do you see that?
It was part of the original non-binding terms:


Quote:
Key business terms approved by the board include:

-The GWCCA, a state agency, would own the stadium.
-The Falcons would operate the stadium under a 30-year license agreement, with options to renew for an additional 15 years.A portion of the construction cost would be funded by revenue from the hotel-motel tax in the city of Atlanta and Fulton County; that portion has been estimated at around $300 million [later lowered to $200M]. The rest, including any cost overruns, would be the Falconsí responsibility, although that could be offset by the sale of personal seat licenses.
-The Falcons would pay annual rent of $2.5 million, increasing 2 percent per year, to the GWCCA.
-The Falcons would be responsible for all of the stadiumís operating expenses and would retain all revenue.
Non-binding terms approved for new Falcons stadium deal | Atlanta Falcons
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Old 05-16-2013, 12:51 PM
 
Location: Georgia
1,462 posts, read 1,421,905 times
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Quote:
Originally Posted by cqholt View Post
The congregation is historic, but not the structures.
Exactly
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Old 05-16-2013, 01:18 PM
 
29,247 posts, read 26,188,598 times
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Quote:
Originally Posted by jsvh View Post
Well, I saw that last year. But apparently the terms have been superseded by subsequent events and negations. In farienss, this oringail term sheet is decsbirtbed only as "24-page non-binding term sheet that will be the basis for further negotiations toward a more definitive, binding agreement between the GWCCA and the Falcons.

For one thing, the cost has now been widely reported to be $1.2 billion rather than $1 billion. In addition, the first term sheet contemplated a construction financing commitment from the government of $300 million rather than $200 million. And while the earlier term sheet contemplated that the Falcons would be responsible for all of the stadiumís operating expenses, the more recent article says it is now expected that hundreds of millions more in future hotel-motel tax revenue are committed to cover stadium expenses and interest through 2050. The earlier agreement apparently didn't involve TAD funding either, although that now appears to be part of it.

I suppose we could resolve this if anybody had the actual agreement. Where is it, I wonder, and how could the taxpayers get a copy?
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