Falcons stadium deal: Clock ticks as city, neighborhoods deal on jobs, community benefits

To get a sense of the complexity of providing assistance to neighborhoods near the future Falcons stadium, consider the case of just one house built under a benefits program created when the Georgia Dome was built. The house at 221 Maple St. was built with a $79,000 construction loan from the $8 million Vine City Trust Fund. Vine City Housing Ministry, Inc. sold the house in 2002 for $118,000. Today the house is valued by Fulton County at $28,900 and the trust fund is owed just over $59,000 of the $76,100 in mortgage financing it provided the buyer, according to records of Invest Atlanta and Fulton County’s tax assessor. Multiply this type of dynamic across multiple issues – job creation, environmental mitigation, public health and safety, historic preservation, and green space – and the task of finalizing a community benefits deal in the next four weeks September takes on a whole new perspective. To read more, click on the headline to the right, under SaportaReport.com.