Throw another $25 million in proposed tax breaks on the Atlanta Falcons stadium barbie:
If a new stadium is built to replace the Georgia Dome, it would likely get a $25 million state sales tax break, in addition to the much-discussed boost from the $300 million in hotel/motel tax money proposed to help fund the project, reports Atlanta Business Chronicle broadcast partner WXIA-TV.
The break would relieve contractors of paying sales taxes on the cost of construction material – lowering the overall cost of the project, the station said. A similar deal was provided when both the Georgia Aquarium and World of Coca-Cola were built, the station adds.
Such tax breaks are awarded by the state on a case-by-case basis, and are intended for projects “of regional significance,” WXIA reports.
Construction sales tax exemptions are pretty common for stadium projects — both the New York Yankees and Mets got them, for instance — but they’re still an additional public subsidy. Add that to the $300 million in state hotel tax money being proposed for the project, plus whatever the Falcons clear in lease breaks after paying $2.5 million in rent to the state, plus whatever the city will be spending on infrastructure, and you get … jeez, I dunno, $400 million? $500 million? Without an actual lease, it’s hard to say. Anybody have access to a time machine and Judith Grant Long‘s phone number in the year 2020?