GWCCA Board of Governors give new stadium a green light

5:08 PM, Mar 17, 2013   |    comments
Georgia Dome, home of the Atlanta Falcons
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ATLANTA -- The Georgia World Congress Center Board of Directors met on Friday to review a completed business deal for a new stadium to be built on GWCCA property.

The Board unanimously voted in favor of the Authority's Executive Director to execute and deliver, based on several agreements.

According to Jennifer LeMaster, Director of Communications for the GWCCA, those agreements include: Memorandum of Understanding (MOU) between the Authority and the Falcons; a Tri-Party MOU between the Authority, the Falcons and Invest Atlanta; a Funding and Development Agreement between the Authority and Invest Atlanta; and an Operations and Maintenance Agreement between the Authority and the City of Atlanta.

The agreements indicate terms for the development, construction and funding for the new stadium.

LeMaster said if it is built, the new stadium will be the new home to the Atlanta Falcons, along with other sports, conventions and entertainment events.

"The Board's vote to allow us to finalize the new stadium transaction is a direct reflection of a mutually beneficial and sustainable business relationship crafted by all parties. This is a very significant step forward for our campus" GWCCA Executive Director Frank Poe said.

Atlanta Falcons Owner & Chairman Arthur Blank said, "When we started our negotiations more than two years ago, the GWCCA and Falcons began with a shared commitment to find a solution that was a win for all stakeholders; this agreement achieves that goal."

 

 

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