$1.2 billion for new stadium? (Atlanta, Savannah: camps, maintenance, costs)

[arjay57]

Looks like there could be stormy seas ahead for a new stadium.

The problem? The hotel-motel tax is expected to contribute $300 million to the new stadium. But the bonding capacity for the Georgia World Congress Center Authority, which operates the Georgia Dome and would oversee the new facility, is capped at $200 million.

To raise that cap, and allow the GWCCA to issue bonds on the entire $300 million, would require an act of the Legislature, topped off by the signature of Gov. Nathan Deal.

“We’re kind of in a wait-and-see mode until the World Congress Center and the Falcons complete their negotiations,” said Edward Lindsey, the House majority whip and the highest-ranking Atlanta lawmaker in the General Assembly. “Until we know what the deal looks like, it’s hard for us to speculate as to what we may be doing.”

But Lindsey admits it is “very likely” that the GWCCA bonding cap will have to be raised.

And that means 236 state lawmakers will be asked to pass judgment on the merits of any funding package agreed to by the Falcons, the GWCCA and the city of Atlanta.

The prospect already has many state lawmakers running for cover. And it will surely test the strength of Atlanta Mayor Kasim Reed’s remarkable relationship with the Capitol’s Republican leadership.

More.... Uh-oh. New Falcons stadium will

[cqholt]

Take the $300 million and invest it the BeltLine and MARTA expansion.

[10scoachrick]

Originally Posted by cqholt

Take the $300 million and invest it the BeltLine and MARTA expansion.

From what I've read lately, that would get you about a $100 million return.

[Atlwarrior]

That would be real stupid considering the traffic gridlock, and lack of transit for a Metro area approaching 6 million. Being stuck in traffic everyday is not sexy.

[cqholt]

New Falcons stadium: What
Georgia Tech professor of Architecture chimes in saying the citizens of Atlanta will get little return for $300 million in tax money given to the project. A new stadium will raise the value of the team, benefiting only Arthur Blank!

[JPD]

Originally Posted by 10scoachrick

From what I've read lately, that would get you about a $100 million return.

Got a link?

[therealpattman]

The team must win a superbowl this year if it wants to win over the hearts of the falcon faithful. Why invest in a team that at their absolute best can not win the big game. I am a deep falcons fan but I would not suggest the residences of Atlanta or Georgia for that matter spend on a new venue until it is proven the team can go all the way.

[Hotlanta72]

I don't think the stadium is all about the Falcons. Perhaps Blank is doing this because of MLS's expansion. Atlanta doesn't really have a true professional soccer team. The stadium could supposedly attract attention for a Super Bowl match, FIFA World Cup, and MLS franchise.

Source: [url=http://www.foxsportssouth.com/05/17/12/Blank-discusses-new-stadium-for-Falcons-/landing_falcons.html?blockID=730754]Blank discusses new stadium for Falcons, MLS[/url]

[RoslynHolcomb]

A new stadium isn't going to attract an MLS franchise, unless it's a soccer only stadium. The MLS might place a franchise here, but a new football stadium wouldn't be a drawing point. Soccer only stadiums are the current draw in MLS, and domed stadiums are not attractive for soccer. Football stadiums are too large and the seats are too far from the field. You only want a 20k seat stadium for soccer in this country. As for World Cup, I'm thinking not so much. We last hosted in 1996 and while there is a definite push to penetrate the US market I don't see us hosting again for at least another ten years. There are too many emerging countries with huge built in markets and deep pockets, places like the UAE which throws money around like it's Fleet Week. The US isn't going to go all out for the WC and FIFA knows it. Unless and until the US team either winsor comes really lose the enthusiasm is simply not there.

[therealpattman]

I honestly think a soccer team would do better in Savannah then it would in Atlanta.