WHY DOES ATLANTA NEED A NEW STADIUM?
Competition for major sporting and other entertainment events is increasing as other markets build new stadiums. A new stadium in Atlanta will help ensure we’re able to retain major events currently held at the Georgia Dome, as well as attract new marquee events to the city and state. In the Falcons’ case, the club’s lease at the Georgia Dome expires in 2020 or when the bonds financing the facility are paid off. That could happen as early as 2017. Once the bonds are paid off, the Falcons are freed of their obligations at the Georgia Dome. A new stadium puts in place a long-term solution for the club. It doesn’t make sense to enter into a lease extension at the Dome without facing major renovations and maintenance expenses in the future. In fact, a study commissioned by the Georgia World Congress Center Authority estimated that renovation costs to bring the Dome to current NFL standards and to continue to meet the needs of the Georgia World Congress Center would be $859 million, which is not a compelling difference versus the cost of building a new facility.