Mon., March 4, 2013 12:00pm (EST)

Mayor: Stadium Deal Ready Soon
By Associated Press
Updated: 1 year ago

ATLANTA  —  
Mayor Kasim Reed says details for a proposed stadium deal should be on the desks of Atlanta City Council members by the end of March. The current version of the deal calls for the city issue $200 million in bonds backed by hotel-motel tax revenue to partly fund a $1 billion stadium. The council would have to approve a funding deal. (Photo Courtesy of Lee Coursey via Flickr.)
Mayor Kasim Reed says details for a proposed stadium deal should be on the desks of Atlanta City Council members by the end of March. The current version of the deal calls for the city issue $200 million in bonds backed by hotel-motel tax revenue to partly fund a $1 billion stadium. The council would have to approve a funding deal. (Photo Courtesy of Lee Coursey via Flickr.)
Mayor Kasim Reed says details for a proposed stadium deal should be on the desks of Atlanta City Council members by the end of March.

Reed's remarks came during a recent special work session called by the council.

The current version of the deal calls for the city issue $200 million in bonds backed by hotel-motel tax revenue to partly fund a $1 billion stadium. The council would have to approve a funding deal.

Reed is in talks with the Falcons and the Georgia World Congress Center because the lease on the Georgia Dome ends in 2017. The team has said it wants a new stadium or it may look to locate outside of Atlanta.