Nov 14, 2013, 12:33 PM EDT
As mentioned this morning, it’s 55% Braves money, 45% Cobb County. The breakdown is like so, though:
- The Braves will pay $280 million up front, adding $92 million more in the future;
- Cobb County will pay $14 million up front in transportation improvements and $10 million more in general funds from a special business district.
- The county will finance the remaining $276 million by issuing revenue bonds.
Of course, payments need to be made on bonds. They’ll be paid like so:
- $400,000 a year from a new rental car tax;
- $940,000 a year from an existing hotel/motel tax;
- $2,740,000 a year from a new hotel/motel fee in that special business district;
- $5,150,000 a year from a property tax increase in the special business district;
- $8,670,000 a year from reallocating Cobb County property taxes.
The upshot? Politicians can and will say that they’ve only raised taxes in two small places — on out of towners in hotels and people in a special business district who probably knew this sort of thing could happen — and thus it’s a nice, impact-light, conservative-happy financing plan.
Except when you reallocate existing taxes to pay for a ballpark, you are taking them away from uses to which they are already being put. How much of the over $10 million a year moved toward the ballpark is being taken away from already-strapped schools, mental health services, parks, police, fire and other public uses?
And except that, if those rental car and bed taxes don’t provide the funds these estimates think they will, it will almost certainly be taxpayers footing the bill for the shortfall.
Also: if they have the will to raise new taxes in special improvement districts and on out-of-towners for this, why would doing it for any other purpose have led to accusations of creeping socialism and business and job-killing and the like? “Because we like sports,” is the answer, I suppose, “and we’ll now get nice seats at Braves games.”
All of which would be fine if the ballpark would bring economic benefits — benefits which go to the public who is paying for 45% of it — in equal or greater measure. But as we know from history, it is rarely if ever the case that sports facilities or events bring such benefits.
But hey, if that’s what Cobb County wants, at least it’s being done through the democratic process, right? It may be a bad decision to use public funds to pay for the Braves new park, but there’s nothing that says that taxpayers can’t decide to do dumb things. Right?
Because there are no new taxes here outside of the self-taxing CID, the County Commission can approve the proposal without a countywide referendum. Cobb County residents will cover nearly half of the Braves’ ballpark without getting to vote on it.
Oh. Well then.
Sep 1, 2014, 11:17 PM EDT
Miguel Cabrera had just one home run in August. He doubled that today.
Sep 1, 2014, 10:09 PM EDT
Bailey is currently deciding whether to undergo surgery for a flexor mass strain in his right elbow.
Jorge Soler is third player in last 100 years with an extra-base hit in each of his first five games
Sep 1, 2014, 9:11 PM EDT
Enos Slaughter (1933) and Will Middlebrooks (2012) are the only others.
Sep 1, 2014, 8:12 PM EDT
Acquired from the White Sox on Sunday, Adam Dunn made an instant impact in his A’s debut this afternoon.
Sep 1, 2014, 7:21 PM EDT
Franco got off to a slow start this season, but he has been on a tear in Triple-A since the start of July.
Sep 1, 2014, 6:31 PM EDT
The Brewers have had at least a share of first place since April 4.
Sep 1, 2014, 5:15 PM EDT
The Pacific Coast League MVP is on his way to L.A.
Sep 1, 2014, 4:21 PM EDT
Four pitchers, led by Cole Hamels, who handled six innings of it, combined to no-hit the Atlanta Braves.
Sep 1, 2014, 3:15 PM EDT
It sounds like Manny is a changed man
Sep 1, 2014, 2:30 PM EDT
As the Marlins’ playoff chances fade.
Sep 1, 2014, 1:44 PM EDT
He was already unofficially shut down. Now it’s all official-like.
Sep 1, 2014, 12:38 PM EDT
Reports of strife between Porter and the front office were apparently right on the nose.
Sep 1, 2014, 11:40 AM EDT
Old Hoss Radbourn is an amateur.
Sep 1, 2014, 10:51 AM EDT
The Brewers are tied for first place and need a boost.
Sep 1, 2014, 10:17 AM EDT
Maybe Yost should just tell Royals fans the exact number of people he needs in the seats for his team to play at its best.
Sep 1, 2014, 9:30 AM EDT
The A’s were, quite recently, the best team in baseball. Now they’re five back of the Angels.
Sep 1, 2014, 8:45 AM EDT
Well, it’s not his (or his estate’s) house anymore. Likely wasn’t for decades. But if someone wants Jon Voight’s LeBaron, someone will probably buy this, right?
Sep 1, 2014, 6:00 AM EDT
And part of the reason for this reminder is that, while Major League Baseball sees fit to commemorate most other holidays that occur during the baseball season, it has always given Labor Day short shrift.
Aug 31, 2014, 11:35 PM EDT
The Blue Jays added an outfield bench bat, picking up John Mayberry, Jr. from the Phillies on Sunday.
Aug 31, 2014, 11:05 PM EDT
The Brewers tried but ultimately failed to acquire David Price from the Rays in July because they refused to part with pitcher Jimmy Nelson.
- The Cardinals have moved ahead of the Brewers for first place in the National League Central 16
- No-hitter! Four Phillies pitchers combine to blank the Braves 58
- Bo Porter fired by the Astros 53
- Settling the Score: Sunday’s results — and a reminder of what Labor Day is all about 46
- Reds trade setup man Jonathan Broxton to the Brewers 17
- Miguel Cabrera sits Sunday with nagging ankle injury 13
- A’s acquire veteran slugger Adam Dunn from the White Sox 54
- Settling the Score: Saturday’s results 18
- Could women play major league baseball? Sure. Right now, though, the deck is stacked against them. (220)
- Albert Pujols plays the “you never played the game!” card (104)
- Great Moments in Drug Testing and Punishment: The NFL Edition (101)
- And That Happened: Thursday’s scores and highlights (75)
- Baseball is dying, you guys, because no one would recognize Mike Trout in a bar (74)