Even after Thursday’s announcement, a lot of work remains to be done before a Falcons stadium deal is completed:
— The Falcons and the Georgia World Congress Center Authority must complete negotiations on a memorandum of understanding that spells out operational, financial and other details regarding the stadium. “We’ve still got some open items to work on,” GWCCA executive director Frank Poe said.
— The GWCCA, which is a state agency, must enter into agreements with the City of Atlanta and Invest Atlanta, the city’s economic development agency.
— A series of approvals ultimately will be required. The Atlanta City Council will vote on extending the hotel-motel tax through 2050 to fund the public portion of the cost. The City Council also will vote on other key agreements among the city, the GWCCA and the Falcons. The GWCCA board will vote on the memorandum of understanding and other agreements. Invest Atlanta will need to approve issuing the bonds necessary to move forward with construction.