Atlanta City Council OKs Funds For Falcons' $1B Stadium

Law360, New York (March 19, 2013, 5:18 PM EDT) -- The Atlanta City Council voted Monday to approve the Atlanta Falcons' proposed $1 billion stadium development, which includes $200 million of public financing, removing one of the last hurdles to the blockbuster arena project.

In an 11-4 vote, the council approved a resolution extending the city's 39.3 percent hotel-motel tax until 2050. The funds generated from the tax in the near term will go towards providing the public financing for the new stadium, currently slated for completion in 2017. 

The new stadium would replace the Georgia...
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