Wednesday, October 30, 2013
ATLANTA (AP) -- The design and budget for a new Atlanta Falcons stadium have been approved.
The Georgia World Congress Center Authority board of governors on Tuesday unanimously approved the complete schematic design and a preliminary budget of $1.2 billion, up $200 million from the previous estimate.
The design was recently completed by an architecture firm. The design team had presented a conceptual design earlier this year, but officials say the new version includes more details.
Board chairman Tim Lowe told The Atlanta Journal-Constitution that the extra $200 million included in the budget will be covered by the Falcons.
Bonds backed by the city's hotel-motel tax are set to cover $200 million of the stadium's cost, while the rest is to be covered by the team, the NFL and personal seat license sales.
(Copyright 2013, The Associated Press)