I know what you're thinking: "they approved this weeks ago, didn't they?!" You're correct. They did. The Georgia World Congress Center and City Council did. So it should be a done deal, right?
Not quite. While the Georgia World Congress Center and City Council have already given their stamps of approval, Invest Atlanta, a economic development agency in Atlanta, must also approve the deal. As you know, Atlanta will utilize $200 million in hotel tax revenue to cover 20 percent of the cost of the new stadium. Bonds will need to be issued to reign in investors, and Invest Atlanta will ultimately oversee that process. Long story short, Invest Atlanta will sort out the nitty gritty associated with Atlanta's financial obligations under this deal. They're set to meet Thursday morning, and it appears the deal will be approved.
This has been a long, drawn out process. With Invest Atlanta's approval tomorrow, things should really start to fall into place. I for one think that's very exciting, and I truly believe the city will benefit enormously from the building of a new stadium. Your thoughts?