Council committee to get new stadium plan briefing

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The Atlanta CityCouncil’s Finance/Executive Committee will receive a briefing Wednesday on theproposal to construct a new retractable roof, multi-purpose stadium that willserve as home of the Atlanta Falcons and host other sporting, entertainment,convention and civic events.

It has been reportedthat the city may be asked to approve $200 million of Hotel/Motel tax revenueto fund a new stadium with $800 in funding coming from the Atlanta Falconsowner and Buckhead resident Arthur Blank. But, it has also been reported thatthe Hotel/Motel taxes committed to the project will still be $300 million, butwill kick in later in the process.
Representatives fromthe Georgia World Congress Center Authority, Atlanta Falcons, Invest Atlanta,and the Mayor’s office have been invited to the committee’s 1 p.m. meeting Wednesdayin the City Council Chamber on the second floor of Atlanta City Hall, 55Trinity Avenue, S.W.  
The briefing will takeplace immediately after consideration of the Committee’s agenda items.
The committee hasencouraged all members of the City Council to attend to hear from therepresentatives that have been a party to the negotiations. The goal is to getan overview and status report on the proposal. 
Council will then askquestions and determine what additional information is needed for future discussion. The committee expects this to be the first of many discussions on the issuethat will take place prior to the Council’s consideration of any legislation.