The Georgia Dome in Atlanta, GA. (Getty Images)
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 and would replace the Georgia Dome, which currently houses the Falcons and also serves as the host of the SEC Championship Game.
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. The World Congress Center Authority said in a news release after the vote that the new stadium, scheduled to open in 2017, would house the Falcons, as well as other sports, convention and entertainment events.