Open Letter About The New Stadium Project
This is a message for Scott Holcomb. He represents the 81st district in the Georgia House of Representatives. This body is going to be asked to allow The Georgia World Congress Center Authority to raise the limit on money they can borrow. If the Legislature does not pass this, the stadium will not be built under the present plan. In my opinion, it would be best for the citizens of Georgia to not pass this enabling legislation.
I have looked over the Memorandum of Understanding between the GWCCA and the Atlanta Falcons. I am a slack blogger, and not a lawyer, and my comprehension of this document is limited. There is language enabling both the Falcons, and the GWCCA, to back out of the deal if either party does not live up to their obligations.
What I could not find is whether the GWCCA is responsible to finish building the New Stadium Project (NSP), if the Falcons fall short on their end of the financing. I have not seen a plan for the Falcons to finance their part of the deal. This is an estimated $700 million. If the State is going to participate in this scheme, then we need to know how the Falcons plan to come up with $700 million.
The GWCCA portion of the NSP budget is estimated to be $300 million. It is assured that there will be much more money needed for infrastructure improvements. Some say the government part of the tab will be half a billion dollars. This is at a time when State, City, and County governments are having financial problems.
This brings us to another reason to not use tax revenue to finance the NSP. It is about our basic values as a society. At this time schools, roads, MARTA, water and sewer systems are out of money, and need basic maintenance. If we cannot provide people with a basic standard of living, then we have no business using public money to build a football stadium.
Pictures are from “The Special Collections and Archives,Georgia State University Library”.