Atlanta: Falcons Stadium cost increased by 40% already

source: AP

Atlanta: Falcons Stadium cost increased by 40% already The Georgia World Congress Center Authority has approved a $1.4 billion budget for the new Atlanta Falcons stadium. Initially it was expected to “only” reach $1 billion.

The congress center's board of governors approved the budget after a presentation on Tuesday. The cost was previously expected to be roughly $1.2 billion.

The Falcons said in a press release that representatives presented the Georgia World Congress Center Authority with the final budget for the new stadium and the guaranteed maximum price is $1.078 billion. Falcons officials say the $1.4 billion price tag also takes into account design and development expenses and other non-construction related costs.

Falcons officials say public investment in the stadium will remain at $200 million through the sale of bonds that are financed by the city's hotel-motel tax. Officials say the remaining cost will be privately financed.

Atlanta Falcons new stadium