$192 Million Renovation Begins on Philips Arena
$110 million to be generated from car rental tax
ATLANTA (AP) — A $192.5 million renovation of Philips Arena, home of the Atlanta Hawks, has begun a day after funding was approved by the Atlanta City Council.
About $110 million for the renovation will be generated from the car rental tax collected at Hartsfield-Jackson Atlanta International Airport and other sites. An additional $32.5 million will come from the city’s sale of Turner Field, the former home of MLB’s Braves, to Georgia State University.
The City Council voted Monday to extend the car rental tax.
The Hawks will contribute $50 million. As part of the deal, the team’s lease was extended through the 2047-2048 season.
The renovation includes removing a wall of suites on one side of the arena, which is closed for four months before re-opening for the 2017-18 season. Work is scheduled to be complete before the 2018-19 season.