Plans move forward for Falcons' new stadium - WRCBtv.com | Chattanooga News, Weather & Sports

Plans move forward for Falcons' new stadium

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ATLANTA (AP) - The Georgia World Congress Center Authority has approved the framework for a deal that would lead to a new downtown stadium for the Atlanta Falcons.

The authority's board members unanimously approved general terms of the stadium proposal after a meeting Monday morning in downtown Atlanta.

The new stadium is projected to cost between $948 million and just over $1 billion.

A 24-page document lays out terms negotiated between Falcons representatives and the Georgia World Congress Center Authority, including who would own the stadium and how it would be paid for.

Frank Poe, executive director of the Georgia World Congress Center Authority, said the board will be asked to vote on terms of the deal before the organization drafts a memorandum of understanding.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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