Mayor: Stadium deal details should be ready soon - FOX 26 News | MyFoxHouston

Mayor: Stadium deal details should be ready soon

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ATLANTA (AP) - Mayor Kasim Reed says details for a proposed stadium deal should be on the desks of Atlanta City Council members by the end of March.

Reed's remarks came during a recent special work session called by the council, according to the Atlanta Journal-Constitution.

The newspaper reports that the current version of the deal calls for the city issue $200 million in bonds backed by hotel-motel tax revenue to partly fund a $1 billion stadium. The council would have to approve a funding deal.

Reed is in talks with the Falcons and the Georgia World Congress Center because the lease on the Georgia Dome ends in 2017. The team has said it wants a new stadium or it may look to locate outside of Atlanta.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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