New details have emerged about the INSANE plan in Atlanta to demolish a 20-year old stadium and build a new billion-dollar plus one because Atlanta Falcons owner Arthur Blank isn’t making enough money off the current one (seriously, he admits as much).
Well, today, the Georgia World Congress Center Authority (GWCCA) is set to vote on a 24-page plan outlining the business terms of the agreement. The Atlanta Journal Constitution has many of the details here.
After you read the details, remember that an Atlanta Journal Constitution poll found that 67% oppose using hotel-motel taxes to build a new retractable-roofed stadium for the Falcons, while only 23% approve. And keep in mind that the new stadium could cost as much as $1.2 billion and according to FieldofSchemes.com’s Neil deMause, “the total public cost could now be in the neighborhood of $580 million.”
Since the public is already on the hook for $331 million in subsidies, that’s only another $250 million. You know, pocket change to cash-strapped cities these days. But hey, at least the Falcons owner will benefit…