Non-binding terms approved for new Falcons stadium deal
The Georgia World Congress Center Authority board Monday morning unanimously approved terms that are intended to provide the framework for a deal on a new downtown stadium for the Atlanta Falcons.
The board, at a special called meeting, OK’d a 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.
Loading ...The plan is to build a retractable-roof stadium, with a potential cost of around $1 billion, on the GWCCA campus in time for the 2017 NFL season.
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. The rest, including any cost overruns, would be the Falcons’ 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 stadium’s operating expenses and would retain all revenue.
- The Georgia Dome would be demolished, and many events held there would move to the new stadium.
- The new stadium would be built on the GWCCA campus, with the final selection from two sites – one just south of the Dome and the other a half-mile north of the Dome – deferred until the negotiation of a more definitive memorandum of understanding early next year.
Next step: issuing a request for qualifications (RFQ) to begin the process of hiring a lead architectural firm to design the stadium.
Check back later today for further updates.
- Tim Tucker of the AJC staff
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342 comments Add your comment
Critic
December 10th, 2012
10:04 am
WALTEREGO,
On the other hand, you are demostrably too stupid to be human. You are merely flotsam.
Loyal Falcon
December 10th, 2012
10:04 am
I have enjoyed being a season ticket holder for over a decade. PSLs will be the end for me.
Wutehvah
December 10th, 2012
10:06 am
No, we don’t need to replace the dome – it’s fine. The problem is people don’t want to come to ATL – why not invest in that?? The Super Dome is 30+ years old, yet they’re getting the next Super Bowl. Why?? Because people actually wanna travel to New Orleans.
Start with a casino in the gulch and go from there.
A Conservative Voice
December 10th, 2012
10:07 am
You know, I haven’t been down there for awhile now but, someone please tell me what’s wrong with the present structure and why would we tear it down if it’s paid for? This kind of thinking is precisely what’s wrong with our country’s fiscal policy. Why don’t we take all the revenue the present structure provides and use it to partially pay for Atlanta’s crumbling water/sewer system. In a few years the fans who attend functions at the new/old structure aren’t going to be able to afford it, what with the double digit inflation and $10/gallon gas prices we will experience under the tax and spend policies of the current currupt white house administration. What’s the GWCCC gonna do then? What are the birds gonna do? Hope Arthur B.’s got some dollars left to pay for it out of his own pocket……oh wait, he’ll just file for bankruptcy, then. You know folks, this is a bad idea and if Milton County happens to get approved, Atlanta will sink. You know, $1 Billion Dollars might not seem like a whole lot to some of you, or maybe you just don’t care but……..
Oh My
December 10th, 2012
10:08 am
Ridunkalous! current stadium is only 20 something years old!
NativeBird the turd
December 10th, 2012
10:08 am
“I can agree with election synopsis’s which said uneducated, misled, rednecks are the majority population in the Northern Burbs and rural GA. YOU WERE WRONG THEN AND WRONG NOW!”
Wow. What tolerance shown by an uneducated lib. I for one can tell you that the northern burbs are not a majority of uneducated, misled, rednecks. Using Nativebirds amazing logic we can deduce that the inner city of Atlanta is full of lazy, goverment employees, hood rats, with no ambition to better themselves or their neighbors. See how that worked?
By the way 99% of the hotel tax paid by tourists? Have you never taken your spouse out for a night in the city?
Mel
December 10th, 2012
10:09 am
Instead of tearing down the Georgia Dome, Georgia law needs to be changed so it can be converted into a casino.
Bruce
December 10th, 2012
10:09 am
We will hear the portion of the public contribution will come from a hotel sales tax that will be paid by visitors. But the lingering question will be, could the public chose what initiative they would like to support instead of Arthur Blank chosing it for us? The arbituary nature, should bother people, but it won’t. Just like the Hot Lanes, no one will care.
Lexi Rednik
December 10th, 2012
10:10 am
ATL may need a new football stadium but it looks to me like that money could pay for some police officers to protect the kids at the colleges downtown and to buy a helicopter to replace the 1965 model that just crashed, and to repair bridges, and sewer lines, and fix the street lights, and fill potholes, and put up some street signs, and put this city back into some stage of repair. Oh, well, who needs any of that?
G-dub
December 10th, 2012
10:10 am
Last time we had a super bowl we had an ice storm and that was the reason ATL could not get another super bowl. With that being said what difference would a retractable roof make in February.
K-Ster
December 10th, 2012
10:11 am
Of COURSE the old stadium needs to be torn down post construction of the new one, how else are we gonna get parking spaces? The site .5 miles north they plan to build this is THE PARKING LOT.
Heady
December 10th, 2012
10:12 am
I used to hate the Dome, but it has grown on me a little bit. A new facility would be nice, but I don’t see paying a seat license to get season tickets. Ticket prices are already well over $100, which makes going to a Falcon’s game a ‘once-in-while’ type activity. The Falcons plan on leasing the new building for 30 years, plus a 15 year option. Based on past history, I doubt the franchise will still be happy with the new building after 30 years.
Falconeer
December 10th, 2012
10:13 am
The 2.5 million dollars in rental would make the payments on the new stadium. Why bring the taxpaying citizens in on this?
NATIVEBIRD
December 10th, 2012
10:13 am
And ESQUIRE,
Leave (Kasim) our mayor alone, he’s done nothing wrong. He works hard everyday for every Atlantan.
If you want political crooks, look at the guy you elected to be Gov! How stupid are you? He was indicted Nationally and you Honeybooboo’s elect him Governor anyway. He then steps in and hires all his buddies and family while stealing from the GA coffers.
Better yet, take a walk down the street from where you live and realize those Gwinnett politicians are taking bribes left and right. Pointing the finger at ATL, when your house is no where near in order. That’s called “deflecting”. Get your self together before you start talking about our great city and wonderful leaders.
Have a great week.
Tech Fan Since 1950
December 10th, 2012
10:14 am
“30 year license agreement”?….”renew for an additional 10 years”?….The Falcons and the glorious NFL will want to tear the new stadium down in 10 years, just wait and see. In just 65 years I have seen two baseball stadiums built from scratch in Atlanta and the same for two coliseums (OMNI and Phillips) and oh yes, the wonderful Georgia Dome. I am all for progress, but wasteful spending at the public expense is something else.
The Citizen
December 10th, 2012
10:14 am
It’s cute how they talk about terms for renewing the lease in the new deal. At this rate, they’ll have already torn the new one down by then for ANOTHER stadium. One with lasers or something.
Get Over It
December 10th, 2012
10:16 am
For all you northsiders on your high horses, get over it. The world does not revolve around your opinion of where major arenas and stadiums should be located because it’s more convenient to you. The thought of you having to come into town may conflict with your pretentious attitudes, but there are football/baseball/basketball fans all over the metro area, including intown and those that live east, west and south of the city. Once more, the intown population has skyrocketed over the past couple of years and will continue to do so. Also, the area around Centennial Park has become a major tourist spot and is the best location in the city for games and tournaments such as the SEC Championship, Chick-fil-A Bowl, Final Four Basketball games, etc. that are attended by out-of-towners. If you don’t like coming downtown to attend sporting events, please do us all a favor and stay home.
WTF
December 10th, 2012
10:16 am
WTF -Truly, WTF.
Morons! I hope they build it and NO ONE comes!
Tax the rich,
Feed the poor,
Till there are,
No rich no more.
Nazareth had it right years ago.
When will ‘you people’ start to get your heads out of the sand (or out of your a$$es) and wake up to the fact that government can’t do everything for you – never has, never will.
If Blank wants a new house, let him build it – where he wants, not where it can be used as a political plum to further the power of the d’town idiot pols.
Where is Sam Massell when we need him?
Erin "spike the ball" Murray
December 10th, 2012
10:16 am
why the F—- do they need a dome/retractable roof????? give me a break Arthur Blank
Donald Bernk
December 10th, 2012
10:17 am
I’m all FOR this deal. In fact, I think it should be even bigger. I’m thinking of moving away from Lake Claire. But if the city and state will put up 1/3 of the cost of my new deluxe home, not only will I promise to stay and contribute to the economic development of Atlanta for 30 years, but I’ll also pay the subsidized cost of my mortgage. If not, I might move out to Cobb Co….
Now I know I’m not THE richest man in the state, but I still need the financial help.
FalconsFan
December 10th, 2012
10:18 am
I like the new stadium and as a taxpayer I’m willing to assist in paying for it through taxes, etc. However, as a long-standing season ticket holder, I don’t like the seat licenses. I’ve seen this in other NFL cities, those seats can cost $40,000, $50,000 and/or more. I can’t afford that and I’ll be disappointed because I’ve invested in the Falcons all these years by renewing my season tickets, but now they’re pushing those loyal fans out because of their greed.
Terms for New Stadium - City-Data Forum
December 10th, 2012
10:18 am
[...] for New Stadium Non-binding terms approved for new Falcons stadium deal | Atlanta Falcons Am I the only one that does not get the outrage over "tax-payer money" being spent on [...]
Vampire Bill
December 10th, 2012
10:19 am
It’s all corrupt. Elected officials lining their pocket and the tax payer gets the shaft.
Esquire is in the HOUSE
December 10th, 2012
10:19 am
ATL1
December 10th, 2012
9:59 am
To people who propose to move the stadium to Doraville/285 – Do you have any idea what kind of a gridlock it will create on 285 and 400? Especially, with all the lane closures that seem to happen every weekend and the Thursday night Falcon games which will interfere with regular commuting. This will be worse than LA and I will be moving to a different city.
*************************************
Maybe on a non Sunday game 285 traffic could take a hit. (400? I disagree) But I also think more people would be willing to take Marta to the game. There is a lot more room to set up some awesome fan complexes and also it would be simple to build express lanes right into the dome parking area. But it really doesn’t matter, it won’t be built in Doraville. .
Nacos
December 10th, 2012
10:19 am
I hope they move to Los Angeles
Atlbirdawg
December 10th, 2012
10:20 am
I don’t care whether or not you agree with a new stadium but for God sakes can you please have an opinion based on facts rather than spoon fed Tea Party sound bites. I am a 16 year season ticket holder and I think the Dome is fine, I would love to have a retractible roof stadium but its not a priority. I hate the idea of PSL’s which I think will cripple the Falcons fan base that actually shows up for games. But most of the commentary I hear around Atlanta about this is that Tax payers are footing the bill, THEY”RE NOT!!! Please read the number of articles that detail the financing proposals for the stadium and make an educated opinion. The Falcons would be paying for more than 60% of the new stadium which RARELY happens anymore, the remaining would be paid by PSL’s 20%, and a Hotel tax from the GWCC that has been in place since before the GA Dome was built. The only tax payer money would be from the hotel tax which would be paid by NON GA residents!
JipWiz
December 10th, 2012
10:20 am
PSL, I am out, sad day
Esquire is in the HOUSE
December 10th, 2012
10:20 am
FalconsFan
December 10th, 2012
10:18 am
I like the new stadium
************************************
You’ve seen it???
PMC
December 10th, 2012
10:21 am
Falcons should buy the Stadium, Falcons should OWN the Stadium. This lease garbage and operating mess is a joke.
Want a new Stadium? Build it. The city should build the infrastructure to it, that’s it.
Esquire is in the HOUSE
December 10th, 2012
10:22 am
Vampire Bill
December 10th, 2012
10:19 am
It’s all corrupt. Elected officials lining their pocket and the tax payer gets the shaft.
*******************************
You got that right.
florida guy
December 10th, 2012
10:22 am
of course it was a unanimous vote!!! Did you expect government to be anything other than perfectly stupid
Tech Actuary
December 10th, 2012
10:22 am
Duran Willis,
I’m not sure exactly what point you are trying to make here. I am a proud North Point member and have gone to church there for years. Yes, I give money to North Point church and I am happy to do so. Buildings, electricty, and staff are expensive but I’m willing to contribute because I find the experience valuable for for my family. I personally feel if you’re going to reap the services of an organization it is reasonable to contribute to that organization. Falcons fans pay for tickets so that they can support the team and I don’t hear you condemning the Falcons as an organization hear…and most of then most likely drive far nicer cars than our pastor. The other difference is that I feel North Point does some amazing things for a lot of people. Did you know they helped raise 4.6 million dollars for charity in one week to help out the local community, or that last Sunday they brought in 33 tons of food for North Fulton Community charities? I’m happy to call North Point home and I hope you’ll come on out some Sunday and experience what I and countless others do on a weekly basis.
Brent
December 10th, 2012
10:23 am
Absolute stupidity. Hopefully any taxpayer costs will be limited to a municipal rather than a statewide capacity. This is NOTHING WRONG WITH THE GEORGIA DOME (other than the management of the NFL team that plays its home games there).
True Falcon Fan
December 10th, 2012
10:23 am
Who’s idea to eliminate “Kickoffs”???
DLed — Good article, we need a better place more up to date. Especially retractable roof is excellent concept for ATL.
So Dled, i have a question — who was the idiot to come up with eliminating kickoffs? I know you probably do not know yet, but please find out let us know ASAP.
Go Falcons — G-men next
CRAPPY WAY......
December 10th, 2012
10:24 am
After the crappy lousy lethargic way the Falcons played yesterday, I say let them all go play in the middle lane of I-75 – it would not be any big loss to the city – by the way the Braves could go play in the northbound lane.
sam
December 10th, 2012
10:25 am
Do you really think building a new stadium will bring in more revenue? First of all, Goodell talked about how Atlanta needs a new stadium to host a SB. So build a new stadium for one SB? Atlanta isn’t getting in the SB rotation like Miami, NO, Dallas and TB. Secondly, GA Dome is a fine football stadium. Chick-Fil-A and SEC host games every year. Plus, NCAA tourney. NO refurbished their dome and they’re doing just fine. The ticket price will skyrocket and most people will not attend games. The attendance has been declining already because people have a better experience at home watching the game on their HI-def TV and comfortable couch.
HRPufnstuf
December 10th, 2012
10:25 am
So, at least the $300 million of public money will come from hotel/motel taxes, not directly from the tax base of citizens, but who is going to get stuck with the ADDITIONAL $300-400 MILLION of cost overruns that will INEVITABLY occur, as they ALWAYS do with these kind of projects?
independentiii
December 10th, 2012
10:27 am
Has anyone done or seen a study of the effects of the hotel tax on bookings? Seems to me there is a point where rooms cost so much folks will book their conventions somewhere else, or visit somewhere other than Atlanta. The Falcons are by far not the only game in town!
Esquire is in the HOUSE
December 10th, 2012
10:28 am
“The Falcons would operate the stadium under a 30-year license agreement, with options to renew for an additional 15 years.”
*************************************
With options to renew after 30 years???
Ok, everyone raise your hand if you think the Falcons will want another new stadium before the 30 years is up.
Brooke
December 10th, 2012
10:28 am
If it’s going to cost 1 billion dollars (with a B), why not use that same $$ to renovate the GA Dome? Let’s logically approach this…tear down a 20 year old stadium to build a new one that’s got a retractable roof…? Arthur, stop trying to be Jerry Jones. The JerryDome exists b/c Jerry has $$… HIS OWN $$ and his team plays in TEXAS where football is on the right hand of Jesus!!!
ATBIRDDAWG
December 10th, 2012
10:29 am
Follow the logic. 300 million in taxes from the hotel/motel tax. Who is that pays those taxes? Taxpayers!!!! How does the GWCC get it’s funding?
PMC
December 10th, 2012
10:31 am
The teams that have the most money to spend year in and year out BUILT their own stadiums.
Now, the real reason this deal is going on is because Atlanta (the city) doesn’t want to lose the stadium site downtown. Not many people are talking about it, but that’s why they are pushing so hard for it. If the team builds it’s own stadium, they have virtually no incentive to keep it where it is, namely the worst pregame experience in pro sports. Atlanta offers virtually NOTHING in an around the stadium environment for any of it’s pro teams. It’s a lot better than it was, since there are some things to do around Phillips, but, seriously, I can’t think of a worse area as far as reasons to go to the game early anywhere in the country. Atlanta is an incredibly poorly planned city.
Aquagirl
December 10th, 2012
10:31 am
“The only tax payer money would be from the hotel tax which would be paid by NON GA residents!”
That’s money that those NON GA residents could have spent in our economy instead of having it re-routed into Arthur Blank’s pocket. It also encourages non-stadium conventions to go elsewhere, which means we get no money at all from them.
If you think hotel/motel taxes produce magic money from nowhere you’re probably sitting on a rent-to-own couch.
PMC
December 10th, 2012
10:33 am
Brooke, the reason they can’t renovate the Dome, is because it would cost roughly that same billion dollars to put a retractable roof on the dome and retrofit that facility, seems crazy, but it is what it is.
Esquire is in the HOUSE
December 10th, 2012
10:33 am
HRPufnstuf
December 10th, 2012
10:25 am
So, at least the $300 million of public money will come from hotel/motel taxes, not directly from the tax base of citizens, but who is going to get stuck with the ADDITIONAL $300-400 MILLION of cost overruns that will INEVITABLY occur, as they ALWAYS do with these kind of projects?
**************************************************
Item 3 says “The rest, including any cost overruns, would be the Falcons’ responsibility, although that could be offset by the sale of personal seat licenses.”
Uh huh, like I believe that cost overruns wouldn’t somehow be shifted. We haven’t forgotten the original proposal for the Ga 400 Toll Rd either, you stole that money at your own discretion.
CrazyFalconFan
December 10th, 2012
10:35 am
I guess I am confused why the falcons just want pay for it. They are already investing over 700 Millons dollars into something they want own!!! That’s crazy to me and they still will have to pay a lease when the State of GA is not even paying half. Thats juzt crazy!
DP
December 10th, 2012
10:37 am
To the mathematically challenged person who wrote earlier that the Falcons lease payment would cover the cost of the new stadium, a $2.5 million per year lease on a $1 billion facility is 1/4 of 1%. It is also less than 1% of what the taxpayers of Atlanta will kick into the deal annually via sales and hotel taxes diverted from productive uses.
It is a disgrace that despite every poll showing 70% or more in Atlanta are against any new stadium deal this is going to proceed without a public referendum.
The Falcons have now gone from my favorite team to my least favorite.
To the “free market” people out there, this is yet another illustration that the upper 1/10 of 1% hates welfare for poor people but loves it for themselves.
Arthur Blank, you are pathetic scum.
Bad idea
December 10th, 2012
10:40 am
First: Try to imagine what pro football will look like in 30 years. I’m thinking more like tag football.
Second: People who stay in local hotels for reasons other than to attend Falcons games, (all year long) get the opportunity to pay Arthur Blank 10% or so. What a sweet deal!
Complete waste of cash
December 10th, 2012
10:41 am
See the Green Bay game last night? Snow, wind, ice – NO ROOF!!! Seventy degrees outside and the Falcons need a dome? A complete waste of cash.
DP
December 10th, 2012
10:42 am
If there’s any justice, Arthur Blank will be 6 feet underground before this boondoggle at taxpayer expense is ever completed.