Falcons a little closer to getting new stadium
Falcons a little closer to getting new stadium
UPDATED: 12/10/2012

By PHILLIP LUCAS, Associated Press

ATLANTA (AP) — After about two years of discussions, the Atlanta Falcons are a step closer to getting a new downtown stadium.

The state agency that owns the 20-year-old Georgia Dome on Monday approved the framework for a deal with the Falcons to build a roughly $1 billion stadium with a retractable roof. There are still several key steps ahead, including exactly how much the government will have to contribute and where it will be built.

The deal calls for the Falcons to pay about 70 percent of the total cost, and the government will pay for the rest with a hotel tax. The Fulton County Commission and the city of Atlanta still must approve using the revenue from the tax to build the new stadium. Mayor Kasim Reed has thrown his support behind the deal.

Under the proposal, the Falcons will run the facility and the Georgia World Congress Center Authority, a state agency, will own it. The Falcons will agree not to relocate and pay $2.5 million in rent annually. The franchise gets to keep revenue generated from parking and operations.

The new stadium expects to have a seating capacity of between 66,000 and 72,000 and be completed in 2017. The proposal also calls for demolishing the Georgia Dome, which is also owned by the authority.

The Georgia Dome hosted artistic gymnastics and basketball during the 1996 Olympic Games as well as NCAA basketball tournament games, soccer matches and rock concerts. The 1994 and 2000 Super Bowls were played there, and it will host the NCAA Final Four in April.

Rich McKay, CEO of the Atlanta Falcons, said the franchise would explore plans to relocate within Atlanta or the metro area if the deal is not approved by local leaders.

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