GWCCA creates reserve for property acquisition

The Georgia World Congress Center Authority approved Tuesday the creation of a reserve fund for property acquisition.

The fund, which at present does not have any funding, is designed to allow the state organization the ability to “acquire, lease or buy property,” said Frank Poe, the authority’s executive director.

The move comes as the state body is in negotiations with the Atlanta Falcons to build a new stadium that could cost an estimated $948 million-plus.

Two sites are under consideration for the project. The first, a “marshaling yard” the Georgia World Congress Center uses for convention truck parking,” is about one-half mile north of the Georgia Dome on Northside Drive and is state-owned.

The other site, an unspecified parcel south of the Georgia Dome, would require the authority to buy property.

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