ATLANTA — Invest Atlanta, the city's economic development arm, has approved public funding to help build the proposed $1 billion Atlanta Falcons stadium. The board of directors approved issuing $200 million in bond funding, backed by the city's hotel and motel tax, to finance the public contribution for the new retractable-roof stadium. The Falcons, along with private entities, will pay the remaining cost. The vote marks the final steps in lining up financing for the stadium. The Georgia World Congress Center, which will own the stadium, and Atlanta City Council, have already approved the project. However, the project team is still negotiating with two churches to acquire the necessary land to build the project, which would be located just south of the Georgia Dome, according to local reports. The churches would have to be moved for the project to move forward. The goal is to complete the stadium by 2017.
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