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After 10 years, Birmingham Mayor Larry Langford says he is one step closer to a dome stadium in downtown Birmingham becoming a reality.
Langford went before the Birmingham-Jefferson Civic Center board Tuesday afternoon to present his proposal for financing the multi-purpose facility. It includes a rental car tax, a plan to repave a 3 1/2 mile path around the dome and a rail system that would link surrounding hotels to the new facility. It is a project that would end up costing more than $440 million.
"Ten years is a long time to be trying to fight and push and beg and hope and all of these other things," Langford told the board. "But we're there."
The plan calls for a multi-purpose facility and that means including the BJCC.
"If it was anywhere else it would not be multi-purpose. It would just be a stadium out there," said BJCC Executive Director Jack Fields.
The city will pay the BJCC $20 million for architectural fees and to begin laying the infrastructure to accommodate the change. Then in two years, the project will go out for bid and the bonds issued .
"So then, two years from now when the design is finished and we've bid the project, we'll know exactly what it is going to cost." said Fields. "Then we can go to the bond market with the right numbers."
But the proposal shows a 1-percent change in interest rates up or down will mean a $50 million dollar change in cost. Some worry a change in economy these next two years could mean what is budgeted now may not be accurate then.
"Certainly you can't predict the future in two years," said Fields. "But we think we've been conservative in our approach and that is hopefully what we feel is the worst case scenario at that time."
"It's been a long time coming, but finally today the trigger can be pulled to start and do what we have hoped for for 10 years," Langford said.
The proposal still has to go before Birmingham City Council for a vote.
Langford says he has a Saturday morning meeting with the council where he will discuss it and expects there could be a decision by a final week from Tuesday.
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