New Atlanta stadium must be a bargain!


New Atlanta stadium must be a bargain!

From 11Alive:

 Taxpayers can expect to pay 1/3 of the cost of the proposed, new Falcons stadium — not 100 percent of the cost, as was the case with the Georgia Dome — but taxpayers will hold 100 percent ownership of the new stadium, according to Frank Poe, Executive Director of the Georgia World Congress Center.

“The public sector will own 100 percent of the new stadium for 30 cents on the dollar,” Poe said.

Poe spoke at a public forum hosted by Common Cause Georgia at Sale Hall Auditorium on the campus of Morehouse College on Monday night.

One purpose of the forum was for Poe to explain the need for a public-private partnership to build the new stadium.  While the public would kick in one-third of the costs — more than $300 million — the remaining two-thirds would come from the Falcons, the NFL and other private-sector sources.

Poe said that based on the revenues generated by the 20-year-old Georgia Dome — revenues from both Falcons events and non-Falcons events — taxpayers could expect to receive from the new stadium a huge return on their one-third investment, totalling hundreds of millions of dollars in revenues annually, including additional tax revenues.

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