HomeDiagramsDatabaseMapsForum About
     

Go Back   SkyscraperPage Forum > Regional Sections > United States > Southeast > Atlanta


Reply

 
Thread Tools Display Modes
     
     
  #21  
Old Posted Mar 14, 2013, 5:35 PM
shivtim's Avatar
shivtim shivtim is offline
Registered User
 
Join Date: Aug 2008
Location: Midtown Atlanta
Posts: 2,314
^To be fair, I don't think any of us on this board knew about what was happening in 2010 when the GA state assembly changed the law so that the tax could only be used for the stadium/GWCC. And we're a group that follows this type of development/infrastructure news. I think it just wasn't picked up by the media or blogosphere, so it slipped right past us.

More accurately, they didn't extend the hotel tax yet, they just authorized the city of Atlanta to extend the tax only if it went toward a stadium. It's legally possible to change what the funding could be used for, but it would require an act of the GA congress. At this point, the tax has not yet been extended and can't be extended without the approval of city council.

That's my understanding at least! It's a complicated issue.
Reply With Quote
     
     
  #22  
Old Posted Mar 14, 2013, 6:27 PM
echinatl echinatl is offline
Registered User
 
Join Date: Jun 2007
Posts: 699
Quote:
Originally Posted by shivtim View Post
^To be fair, I don't think any of us on this board knew about what was happening in 2010 when the GA state assembly changed the law so that the tax could only be used for the stadium/GWCC. And we're a group that follows this type of development/infrastructure news. I think it just wasn't picked up by the media or blogosphere, so it slipped right past us.

More accurately, they didn't extend the hotel tax yet, they just authorized the city of Atlanta to extend the tax only if it went toward a stadium. It's legally possible to change what the funding could be used for, but it would require an act of the GA congress. At this point, the tax has not yet been extended and can't be extended without the approval of city council.

That's my understanding at least! It's a complicated issue.
Gotcha, I'm still learning more about this every day which confirms that it's super complicated! I think it has a legit chance of benefitting downtown a lot more than some people think.
Reply With Quote
     
     
  #23  
Old Posted Mar 14, 2013, 11:33 PM
smArTaLlone smArTaLlone is offline
Registered User
 
Join Date: Feb 2005
Posts: 8,553
Quote:
Originally Posted by shivtim View Post
^To be fair, I don't think any of us on this board knew about what was happening in 2010 when the GA state assembly changed the law so that the tax could only be used for the stadium/GWCC. And we're a group that follows this type of development/infrastructure news. I think it just wasn't picked up by the media or blogosphere, so it slipped right past us.

More accurately, they didn't extend the hotel tax yet, they just authorized the city of Atlanta to extend the tax only if it went toward a stadium. It's legally possible to change what the funding could be used for, but it would require an act of the GA congress. At this point, the tax has not yet been extended and can't be extended without the approval of city council.

That's my understanding at least! It's a complicated issue.

Is that what really happened? My understanding was that they merely extended the life of the existing tax with the requirement that the Falcons remain a part of the GWCC complex.

What's weird to me is that the state run GWCC has had control of this tax revenue which should have belonged to the city all along. Deal at least got that part right even though it was only done to pass off a political hot potato.

I found these details on Saporta Report

Quote:
To refresh the details, currently 39.3 percent of the 7 cents of hotel-motel taxes collected in the City of Atlanta and unincorporated Fulton County is earmarked to pay off the debt for the Georgia Dome.

In 2010, state legislature extended that provision for another 30 years for a new stadium as long as it was built on GWCCA property.
Here's were the city stands to gain from being front and center on this deal.

Quote:
Since 2006, with only one exception, the tax has brought in at least $18 million a year. The exception was for fiscal year 2010, when it dipped down to $16.7 million.
So over the life of the tax, it is highly probable that it will generate well over $500 million in revenue, enough to pay off the stadium bond and fund some much needed infrastructure projects.

http://saportareport.com/blog/2013/0...-stadium-deal/
Reply With Quote
     
     
  #24  
Old Posted Mar 15, 2013, 7:24 PM
shivtim's Avatar
shivtim shivtim is offline
Registered User
 
Join Date: Aug 2008
Location: Midtown Atlanta
Posts: 2,314
So maybe it's just 39% that is required to go to the stadium?
http://www.prod.myajc.com/news/news/...ruction/nWrLw/

"No matter what the stadium costs to build and operate, by law 39.3 percent of the city’s 7-cents-per-dollar hotel-motel tax must go to the project — the same percentage that currently goes to the Georgia Dome."

"The new stadium’s share of the hotel-motel taxes dates to 1989, when the General Assembly approved the Dome funding plan. The same 39.3 percent was simply kept in place when, in 2010, the General Assembly authorized extending the tax as a funding vehicle for a replacement stadium."

"Interest and principal payments on the public’s share of the construction debt could total nearly $450 million over the life of the 30-year bonds, government documents reveal. And, under one projection, about $450 million more could eventually be directed toward the stadium’s operation and maintenance, according to documents reviewed by the AJC."
Reply With Quote
     
     
  #25  
Old Posted Mar 15, 2013, 10:28 PM
smArTaLlone smArTaLlone is offline
Registered User
 
Join Date: Feb 2005
Posts: 8,553
Ok so it is true that this money can ONLY go to the stadium.

It makes sense regarding the interest but the second $450 million is simply based on a projection that the tax will generate $900 million over the life of the tax which is also deemed unlikely.



New stadium calls for extra $20M from Falcons-Video



Favored Falcons stadium site hinges on churches
Reply With Quote
     
     
  #26  
Old Posted Mar 16, 2013, 4:17 PM
SwimAtl SwimAtl is offline
Registered User
 
Join Date: Jun 2006
Posts: 160
I'm very excited to see the concept plans from the 5 design finalists. I've looked at each of their websites - all have great experience and really provocative work.

360 Architects
Ewing-Cole
HKS Inc.
Populous + Shop
Tvsdesign/Heery/Gensler

My favorite is Populous, with HKS and Ewing Cole behind them.
Reply With Quote
     
     
  #27  
Old Posted Mar 18, 2013, 7:58 PM
smArTaLlone smArTaLlone is offline
Registered User
 
Join Date: Feb 2005
Posts: 8,553
Key stadium vote could come today

http://www.ajc.com/news/news/local/k...e-today/nWwXq/


Quote:
A pivotal vote by the Atlanta City Council on a plan to build a new $1 billion downtown stadium for the Atlanta Falcons could come this afternoon.

At its regularly scheduled council meeting, the council will consider a resolution to approve the use of 39.3 percent of the city’s 7-cents per dollar hotel-motel tax through 2050 for stadium construction and expenses.

The tax would back bonds that would cover $200 million of the upfront construction costs, as well as pay interest on the 30-year bonds and cover some stadium operating and maintenance expenses over the years.
Reply With Quote
     
     
  #28  
Old Posted Mar 19, 2013, 2:32 AM
smArTaLlone smArTaLlone is offline
Registered User
 
Join Date: Feb 2005
Posts: 8,553
Atlanta City Council OKs stadium

http://www.bizjournals.com/atlanta/b...s-stadium.html

Quote:
Despite pleas from constituents to slow down the train, the Atlanta City Council voted 11-4 Monday evening to approve a funding plan for a new $1 billion football stadium in downtown Atlanta.

The council vote, which did not go through the normal multi-week committee process, was pushed through on a super fast track on Monday after a six-hour meeting of the whole council.

That approval followed Friday’s unanimous vote by the Georgia World Congress Center Authority that endorsed the new retractable roof stadium for the Atlanta Falcons.

Only one more governmental body is needed to approve the deal — the board of Invest Atlanta — which is scheduled to vote on the project at a meeting Tuesday morning — making it the third vote in as many business days.
Reply With Quote
     
     
  #29  
Old Posted Mar 19, 2013, 2:34 AM
shivtim's Avatar
shivtim shivtim is offline
Registered User
 
Join Date: Aug 2008
Location: Midtown Atlanta
Posts: 2,314
Atlanta council clears stadium plan

"The stadium deal calls for 39.3 percent of Atlanta’s seven-cents-per-dollar hotel-motel tax collections to go into the stadium project through 2050 — the same percentage that currently goes into the Georgia Dome. After covering annual debt payments on the construction bonds, all money remaining from the 39.3-percent portion of the hotel-motel tax would be used toward stadium operating and maintenance expenses."

I'm still incredibly confused by this. If 39.3% will raise $200 million, that means there's a corresponding $300 million (the remaining 60% of the collected hotel tax). What is this $300 million being spent on? Even currently, regardless of the new stadium deal, what is the 60.7% of the tax being spent on? In the future, will this money be used toward "stadium operating and maintenance expenses," or is that still part of the 39.3%? Reed et al have done a terrible job of explaining this. I even watched the entire press conference from last week, and there were no answers.
Reply With Quote
     
     
  #30  
Old Posted Mar 19, 2013, 2:51 AM
smArTaLlone smArTaLlone is offline
Registered User
 
Join Date: Feb 2005
Posts: 8,553
Quote:
Originally Posted by shivtim View Post
Atlanta council clears stadium plan

"The stadium deal calls for 39.3 percent of Atlanta’s seven-cents-per-dollar hotel-motel tax collections to go into the stadium project through 2050 — the same percentage that currently goes into the Georgia Dome. After covering annual debt payments on the construction bonds, all money remaining from the 39.3-percent portion of the hotel-motel tax would be used toward stadium operating and maintenance expenses."

I'm still incredibly confused by this. If 39.3% will raise $200 million, that means there's a corresponding $300 million (the remaining 60% of the collected hotel tax). What is this $300 million being spent on? Even currently, regardless of the new stadium deal, what is the 60.7% of the tax being spent on? In the future, will this money be used toward "stadium operating and maintenance expenses," or is that still part of the 39.3%? Reed et al have done a terrible job of explaining this. I even watched the entire press conference from last week, and there were no answers.
ONLY the 39.3% goes to the stadium and that 39.3% is projected to generate well over $200 million over the 30-year life of the tax ($600 million is considered a conservative projection). The other 60.7% of the hotel tax is divided between the Georgia World Congress Center, the Atlanta Convention & Visitors Bureau and the city.
Reply With Quote
     
     
  #31  
Old Posted Mar 19, 2013, 3:23 AM
Matthew's Avatar
Matthew Matthew is offline
Fourth and Main
 
Join Date: Feb 2002
Location: Johns Creek, GA (Atlanta)
Posts: 3,125
WSB-TV had the site plan for the new stadium just a few minutes ago, with a reporter standing on where the site plan shows the 50 yard-line. The proposed new dome is turned at a slight angle and several streets (it appeared to be every street around it altered by it) will be altered to wrap-around it. They replay the news later tonight, so you may want to look it up and record it to watch tomorrow. They said a parking lot will replace the old dome.
__________________
My Diagram
Reply With Quote
     
     
  #32  
Old Posted Mar 19, 2013, 3:54 AM
smArTaLlone smArTaLlone is offline
Registered User
 
Join Date: Feb 2005
Posts: 8,553
Quote:
Originally Posted by Matthew View Post
WSB-TV had the site plan for the new stadium just a few minutes ago, with a reporter standing on where the site plan shows the 50 yard-line. The proposed new dome is turned at a slight angle and several streets (it appeared to be every street around it altered by it) will be altered to wrap-around it. They replay the news later tonight, so you may want to look it up and record it to watch tomorrow. They said a parking lot will replace the old dome.
That may have been from the roadway study that was done for the South site.

Reply With Quote
     
     
  #33  
Old Posted Mar 19, 2013, 10:33 AM
Nanosolar's Avatar
Nanosolar Nanosolar is offline
Registered User
 
Join Date: Nov 2012
Posts: 139
Quote:
Originally Posted by smArTaLlone View Post
That may have been from the roadway study that was done for the South site.

This is going to be great. The Falcons get a stadium, but more importantly to me, Atlanta will have the premier site for college football events for many years. SEC Championship, BCS Championship, Bowl Games, Kick off Games, etc. Teams want to play in Atlanta because the area is very fertile for recruiting.
Reply With Quote
     
     
  #34  
Old Posted Mar 19, 2013, 1:49 PM
clexmond clexmond is offline
Registered User
 
Join Date: Jun 2012
Posts: 299
Quote:
Originally Posted by Nanosolar View Post
This is going to be great. The Falcons get a stadium, but more importantly to me, Atlanta will have the premier site for college football events for many years. SEC Championship, BCS Championship, Bowl Games, Kick off Games, etc. Teams want to play in Atlanta because the area is very fertile for recruiting.
Voting for a new stadium is one thing (and I generally agree it was the right thing to do) but if our city allows that entire block to be converted to surface parking I will have some real issues.
Reply With Quote
     
     
  #35  
Old Posted Mar 19, 2013, 7:42 PM
L41A's Avatar
L41A L41A is offline
Registered User
 
Join Date: Jun 2007
Location: Peace Up, A-Town Down
Posts: 897
Quote:
Originally Posted by clexmond View Post
Voting for a new stadium is one thing (and I generally agree it was the right thing to do) but if our city allows that entire block to be converted to surface parking I will have some real issues.
It appears that the new proposed stadium is replacing surface parking so it may simply be a trade off. But I also see your point.
Reply With Quote
     
     
  #36  
Old Posted Mar 19, 2013, 11:45 PM
Matthew's Avatar
Matthew Matthew is offline
Fourth and Main
 
Join Date: Feb 2002
Location: Johns Creek, GA (Atlanta)
Posts: 3,125
That appears to be the site plan from the news I was talking about.

From what I've heard, tailgating in parking lots is more important. They have to consider the tailgating crowd that prefer parking lots near the stadium. Why can't they go with a low-rise parking deck with a rooftop area for tailgating? They can have storefronts along the base, parking on the lower level, and tailgating on the top level. It's more parking near the stadium, storefront revenue, and a tailgating area just as big as what is proposed now. It's also much better than a parking lot. I guess no one is willing to pay for it? It would be interesting to see how much potential revenue the storefronts, additional parking fees collected, and advertising screens along the side of the deck could generate toward paying-off any loans for this deck?
__________________
My Diagram
Reply With Quote
     
     
  #37  
Old Posted Mar 22, 2013, 12:02 AM
Rail>Auto's Avatar
Rail>Auto Rail>Auto is offline
Registered User
 
Join Date: Aug 2009
Posts: 500
I didn't have a problem with the Falcons wanting a new outdoor stadium but now that the plan requires the demolition of the young dome that couldn't look any better I am completely against it.
Reply With Quote
     
     
  #38  
Old Posted Mar 22, 2013, 12:55 AM
TarHeelJ TarHeelJ is offline
Registered User
 
Join Date: Oct 2009
Posts: 1,998
Quote:
Originally Posted by Matthew View Post
That appears to be the site plan from the news I was talking about.

From what I've heard, tailgating in parking lots is more important. They have to consider the tailgating crowd that prefer parking lots near the stadium. Why can't they go with a low-rise parking deck with a rooftop area for tailgating? They can have storefronts along the base, parking on the lower level, and tailgating on the top level. It's more parking near the stadium, storefront revenue, and a tailgating area just as big as what is proposed now. It's also much better than a parking lot. I guess no one is willing to pay for it? It would be interesting to see how much potential revenue the storefronts, additional parking fees collected, and advertising screens along the side of the deck could generate toward paying-off any loans for this deck?
Tailgating in a parking deck? I don't think that would be very popular. I don't see a problem with ONE parking lot specifically for tailgating - a
"tailgating park". Most of the Dome parking is already underground anyway, so I'm sure it will remain that way.
Reply With Quote
     
     
  #39  
Old Posted Mar 22, 2013, 1:37 AM
Matthew's Avatar
Matthew Matthew is offline
Fourth and Main
 
Join Date: Feb 2002
Location: Johns Creek, GA (Atlanta)
Posts: 3,125
Tailgating at the top of a short two or three storey parking deck, which has storefronts along the base and is designed so it doesn't look like a parking deck. It's a way to remove a parking lot a few people here disappointed about. You're likely right. It's an unusual urban idea that may or may not work. The only way to know is to try it though. I still prefer to take MARTA to the dome.
__________________
My Diagram
Reply With Quote
     
     
  #40  
Old Posted Mar 22, 2013, 2:08 AM
cabasse's Avatar
cabasse cabasse is offline
Registered User
 
Join Date: Jun 2002
Location: atalanta
Posts: 4,161
Quote:
Originally Posted by TarHeelJ View Post
Tailgating in a parking deck? I don't think that would be very popular. I don't see a problem with ONE parking lot specifically for tailgating - a
"tailgating park". Most of the Dome parking is already underground anyway, so I'm sure it will remain that way.
it may be *one* lot but it's the same size as the existing dome, which is also about the same size as your typical walmart supercenter surface lot. this would be a horrible use of space half a mile from the center of downtown.
__________________
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Regional Sections > United States > Southeast > Atlanta
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 11:50 AM.

     
SkyscraperPage.com - Archive - Privacy Statement - Top

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.