Reed on stadium: there are times ‘you have to make a 10-, 20-, 30-year decision’
Rules out using Westside development incentive fund
- Joeff Davis/CL File
- Mayor says Westside TAD, funding tool to revitalize blighted neighborhoods, won’t be used
We’re apparently days away from the announcement of a deal between the state, city, and Atlanta Falcons to fund a new football stadium.
According to reports, the Falcons are willing to cough up an extra $100 million to pay for the estimated $1 billion project. Gov. Nathan Deal has made clear that state lawmakers won’t vote on raising the borrowing limit of the Georgia World Congress Center Authority. The state authority would have issued bonds to help fund the stadium but might now only provide land.
That means the city - or more likely, one of its associated entities - will likely issue bonds to provide the public financing.
Which leaves open the question: What will that look like?