At the Thursday evening meeting of the East Bank Stadium Committee, a council member praised an economist’s presentation about public investment in sports stadiums as more valuable than the paid report the council approved a company to do.
Professor of Economics, Finance and Quantitative Analysis at Kennesaw State University, J.C. Bradbury, delivered an information-dense presentation in rapid-fire fashion to the East Bank Stadium Committee (EBSC), of which Council Member Delishia Porterfield (District 29) was highly complimentary and appreciative, especially in comparison to the Vision Stadium Group (VSG) report that had a cost of at least $250,000.
The resolution to approve the term sheet, which gives an overview of the terms and conditions of the agreements and transactions for the financing, construction and operation of a new domed stadium adjacent to the existing Nissan Stadium which will then be demolished, was deferred for two meetings. Both the Budget and Finance Committee and the Public Facilities, Arts and Culture Committees had previously voted to defer for two meetings.
The much-anticipated report from VSG (Venue Solutions Group), which claims to substantiate the estimated $2.1 billion in projected costs to renovate Nissan Stadium was released Tuesday.
The previous estimates for an upgrade to the stadium to the “first-class condition” required in the 1996 stadium lease agreement at costs ranging between $1.75 to $1.95 billion is what is driving the argument for a new stadium.