$30M In Bonds Approved For Falcons Stadium & Other Projects

$30M In Bonds Approved For Falcons Stadium & Other Projects

May 24, 2013

On Thursday, the Georgia Board of Economic Development approved $30 million in bond financing related to the new Atlanta Falcons stadium and two other high-profile downtown projects.

Half of the money will go toward property acquisition associated with the planned $1 billion retractable roof stadium due to become the Falcons’ new home in 2017. Another $11.75 million will be used to buy land to make room for a new road and parking deck to be built for the College Football Hall of Fame.

The third project, planned renovations at Building B of the Georgia World Congress Center, will get $3.25 million in bonds.

All three projects are being overseen by the Georgia World Congress Center Authority and were approved unanimously.

On a related note, NFL owners own Tuesday approved a $200 million loan for construction of the new billion dollar Atlanta stadium.

The stadium will be built with $200 million from public bonds, with the rest coming from Falcons owner Arthur Blank. The Georgia Dome, which opened in 1992, will be demolished when the new stadium opens.

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