The Falcons want a new stadium, and Atlanta Mayor Kasim Reed would like their next home to remain within city limits.
To that end, Reed said Friday that a proposal for an Atlanta stadium will be ready in March.
“Sometime in the month of March, we’ll be coming to you to give you, once we are finished visiting with the Falcons, a detailed review of terms of the conversation,” Reed told the Atlanta City Council, whose approval is needed to put the $1 billion stadium plan into motion, according to the Atlanta Journal-Constitution. “You all will get that immediately, as soon as we have an agreement with the Georgia World Congress Center and the Falcons.”
According to the Journal-Constitution, a tax on hotels and motels would be expected to cover $200 million in bonds the city would issue to build the stadium, with the team and NFL bearing the rest of the cost. Personal seat licenses would also be issued.