The Atlanta City Council approved issuing $200 million in bonds Monday to build a new retractable roof stadium for the Atlanta Falcons.
The Council voted 11-4 in favor of the deal. Councilman Michael Julian Bond carried the resolution for Mayor Kasim Reed, who took to the council podium immediately following the vote.
“We have a new thirty year agreement from the Atlanta Falcons and, folks, don’t poo-poo that. It’s a very big deal,” said Reed.
The $200 million in bonds will be backed by Atlanta’s hotel/motel tax. The Falcons will cover the remaining costs of the billion dollar project, including $800 million for construction and up to $70 million for city infrastructure improvements.
During a public comment period, many Atlanta residents who packed into the council chamber voiced support for the deal.
Steven Lee, a small business advocate in downtown Atlanta, stressed the potential economic benefits.
“We have a tremendous deficit in jobs and this would create a lot of jobs for the community.”
Councilmembers Felicia Moore, Alex Wan, Howard Shook, and Kwanza Hall voted against the deal.
Moore said the process was rushed and left too many questions concerning community impact unanswered.
“I think this process is fatally flawed and not something we should do,” said Moore.
Some in the community agreed and complained of the lack of transparency.
“The proposal was given to the council Wednesday and so essentially three business days and no public discussion on the proposal itself and no public hearing,” said William Perry of the government watchdog group Common Cause. “This was a rush to judgment.”
Nonetheless, it’s virtually a done deal. One last approval by the city’s development arm is seen as a formality.
The question now is where the new stadium will be located. Falcons officials say they’d like to build a few blocks south of the Georgia Dome, but it’s unclear if two churches located there will sell their property.
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