Atlanta Mayor Kasim Reed held a join press conference along with Atlanta Hawks principle owner Tony Ressler to announce a partnership with the City of Atlanta to refurbish Philips Arena.
Per Reed, the funding will not result in higher taxes for any Atlanta citizen. The money will be funded from an extension of the car rental tax along with $12.5 million coming from the sale of Turner Field.
Per mayor on Philips Arena funding: $110 million from extension of car rental tax, $12.5 million from sale of Turner Field
— Dan Wolken (@DanWolken) November 1, 2016
The redesign is expected to take place during the offseason and shouldn’t impact the Hawks in season schedule.