Originally posted on Fox Sports South  |  Last updated 3/7/13
ATLANTA (AP) Officials say financing terms have been reached for the Atlanta Falcons' proposal for a new 1 billion stadium in downtown Atlanta. The Atlanta City Council must now vote on the proposal. Atlanta Mayor Kasim Reed and Falcons owner Arthur Blank announced the financing deal Thursday at a news conference along with the Georgia governor. Reed says the public contribution to stadium construction through hotel-motel tax revenue will be capped at 200 million. He says the city will provide 15 million toward the stadium. He says the Falcons will pay 800 million and an additional 50 million for infrastructure-related costs associated with construction. The franchise is also responsible for paying for any budget overruns.
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