Mayor Kasim Reed says the city will lose out if it fails to approve a new multi-purpose football stadium in downtown Atlanta
In Mayor Reed's view, the city will reap benefits and have virtually no risk.
The mayor laid out the parameters of a deal in an informal session conveyed by Atlanta City Council President Ceasar Mitchell on Friday.
The mayor backs a commitment to use $200 million in public funds from the city's hotel-motel tax, which he says would come mostly from visitors. The Falcons would contribute the remaining $800 million of the cost of the new stadium.
"I'm going to show you that the city of Atlanta is not going to be a back stop for the debt. So if it all fell apart, the people that would be holding the bag would be the people that purchased the bonds. I'm going to show you no other city in America did a better deal. And I'm going to show you we are going to put thousands of people back to work," Reed said.
One Buckhead council member raised another cost concern.
"What I hear the most about is the risk on the infrastructure," Atlanta City Council Member Yolanda Adrean.
Reed acknowledged that there is no agreement on how an unknown amount of infrastructure cost will be born, and what those costs will be depends on the eventual site. One potential site is by the World Congress Center where trucks currently dock; the other site is closest to the existing dome, which has a different price.
"I don't want to be presumptuous and certainly speak for my colleagues when I say that I think there is strong support for the Falcons and this deal within the Council. Certainly it takes eight votes but it takes eight votes to really make an agreement," Mitchell told Reed.
At one point, Reed smiled confidently saying that he would like and perhaps expects to get 11 or 12 "yes" votes out of the 15 possible.
Friday, May 17 2013 11:45 PM EDT2013-05-18 03:45:14 GMT
Atlanta Falcons general manager Thomas Dimitroff biked his way to work on Friday. Dimitroff rode from Buckhead to The Georgia Dome as part of "National Bike to Work Day."
Atlanta Falcons general manager Thomas Dimitroff biked his way to work on Friday. Dimitroff rode from Buckhead to The Georgia Dome as part of "National Bike to Work Day."
Monday, May 13 2013 7:19 PM EDT2013-05-13 23:19:20 GMT
Former Atlanta Falcons star Warrick Dunn is now a graduate of Emory University. He was awarded a business degree after completing the university's Executive MBA program.
Former Atlanta Falcons star Warrick Dunn is now a graduate of Emory University. He was awarded a business degree after completing the university's Executive MBA program.
Monday, May 13 2013 10:01 AM EDT2013-05-13 14:01:16 GMT
It's that time of year again! The Falcons Golf Tournament at the River Club in Suwanee is Monday, and it starts 10 a.m. Good Day Atlanta's Buck Lanford is in the tournament and he spoke with quarterback Matt Ryan.
It's that time of year again! The Falcons Golf Tournament at the River Club in Suwanee is Monday, and it starts 10 a.m. Good Day Atlanta's Buck Lanford is in the tournament and he spoke with quarterback Matt Ryan and Coach Mike Smith!
Sunday, May 19 2013 12:13 AM EDT2013-05-19 04:13:53 GMT
The NYPD says a 14-year-old girl was shot and killed on a Queens MTA bus Saturday night. The incident happened around 8:50 p.m. on board the Q-6 bus on Sutphin Avenue and Rockaway Boulevard
The NYPD says a 14-year-old girl was shot and killed on a Queens MTA bus Saturday night. The incident happened around 8:50 p.m. on board the Q-6 bus on Sutphin Avenue and Rockaway Boulevard
Sunday, May 19 2013 12:05 AM EDT2013-05-19 04:05:15 GMT
Authorities say one person is dead and another was injured when the vehicle they were in ran off the road and crashed into Huntington harbor on Long Island Saturday evening.
Authorities say one person is dead and another was injured when the vehicle they were in ran off the road and crashed into Huntington harbor on Long Island Saturday evening.
Saturday, May 18 2013 10:14 PM EDT2013-05-19 02:14:35 GMT
An airline official says a US Airways flight with 34 people aboard was forced to make a belly landing at Newark International Airport after experiencing landing gear trouble. No injuries were reported.
An airline official says a US Airways flight with 34 people aboard was forced to make a belly landing at Newark International Airport after experiencing landing gear trouble. No injuries were reported.
Saturday, May 18 2013 8:33 PM EDT2013-05-19 00:33:09 GMT
A 12-year-old boy was shot and killed and his father was wounded on a Jersey City street Friday night. Police say Gywan Levine Jr. and his father, Gywan Levine Sr., were walking on Rutgers Avenue
A 12-year-old boy was shot and killed and his father was wounded on a Jersey City street Friday night. Police say Gywan Levine Jr. and his father, Gywan Levine Sr., were walking on Rutgers Avenue
Saturday, May 18 2013 6:52 PM EDT2013-05-18 22:52:45 GMT
A large crowd of supporters in the Bronx joined the parents of a slain teen to protest a judge's ruling Saturday. Constance Malcolm and Francelot Graham whose son Ramarley was killed back in February
A large crowd of supporters in the Bronx joined the parents of a slain teen to protest a judge's ruling Saturday. Constance Malcolm and Francelot Graham whose son Ramarley was killed back in February
Saturday, May 18 2013 4:03 PM EDT2013-05-18 20:03:41 GMT
Officials in Connecticut say it was amazing that there were no fatalities or more injuries after two Metro-North trains collided around 6 p.m. in Fairfield Friday evening.
Officials in Connecticut say it was amazing that there were no fatalities or more injuries after two Metro-North trains collided around 6 p.m. in Fairfield Friday evening.
