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.
Jul 21, 2014, 11:15 PM EDT
The Rangers had high hopes when they signed outfielder Shin-Soo Choo to a seven-year, $130 million contract over the winter, but a lingering injury to his left ankle is a major reason why his first season with Texas has been a bust.
Jul 21, 2014, 10:29 PM EDT
Plenty of scouts were in attendance tonight for Cliff Lee’s first start in the majors in over two months. They likely didn’t come away impressed.
Jul 21, 2014, 9:58 PM EDT
Royals left-hander Jason Vargas underwent an appendectomy less than two weeks ago, but he could be activated from the disabled list as soon as Sunday against the Indians.
Jul 21, 2014, 9:15 PM EDT
Andrelton Simmons just isn’t fair.
Jul 21, 2014, 8:48 PM EDT
Dodgers right-hander Josh Beckett is dealing with a left hip impingement, but he made it through a bullpen session Saturday with no issues and has been cleared to return Tuesday.
Jul 21, 2014, 8:01 PM EDT
X-rays on the hands of Hanley Ramirez and Yasiel Puig came back negative.
Jul 21, 2014, 7:09 PM EDT
Veteran catcher John Buck was given his release by the Mariners earlier this month, but he didn’t stay out of a job for long.
Jul 21, 2014, 6:24 PM EDT
After a demotion to Triple-A earlier this month, Tommy Milone has asked the Athletics to trade him. He appears unlikely to get his wish.
Jul 21, 2014, 5:28 PM EDT
Jeter has been that for so, so long. Who’s next?
Jul 21, 2014, 5:10 PM EDT
Justin Morneau was finally healthy and productive again after three injury wrecked years in Minnesota, to the point that he nearly made the All-Star team as a “Final Vote” candidate and was chosen for the Home Run Derby. But now he’s hurt again.
Jul 21, 2014, 5:03 PM EDT
You could do worse. Like, say, stand pat with the Royals’ offense.
Jul 21, 2014, 4:46 PM EDT
Yankees first baseman will be out of the lineup for at least the next 3-4 days with a strained lat muscle, according to Mark Feinsand of the New York Daily News.
Jul 21, 2014, 4:16 PM EDT
Sergio Santos saved 30 games for the White Sox in 2011 and then that offseason the Blue Jays acquired him to take over as their closer, but he’s been injured and ineffective since then and today Toronto designated him for assignment.
Jul 21, 2014, 4:00 PM EDT
He could be throwing pitches in anger in September.
Jul 21, 2014, 3:45 PM EDT
After four terrible seasons Kurt Suzuki had to settle for a one-year, $2.75 million deal this offseason, but now he’s having a career-year for the Twins and made his first All-Star team at age 30.
Jul 21, 2014, 3:15 PM EDT
Evan Gattis is off the disabled list after missing the past four weeks with a bulging disk in his back and to make room for his return the Braves demoted fill-in catcher Christian Bethancourt to Triple-A.
Jul 21, 2014, 3:00 PM EDT
Some Colby on Colby crime in Toronto on Saturday. And none of it made a lick of sense.
Jul 21, 2014, 2:44 PM EDT
Imagine a story like that happening today (and not involving Miguel Olivo).
Jul 21, 2014, 2:36 PM EDT
The third installment in what I feel is the coolest set of baseball prints ever is now out.
Jul 21, 2014, 1:48 PM EDT
The Giants make a low-risk bet on a possibly still high upside veteran.
- Cliff Lee struggles in first start back from disabled list 0
- On the 10th anniversary of his MLB debut, let’s appreciate David Wright 29
- And That Happened: Sunday’s scores and highlights 33
- Odrisamer Despaigne loses his no-hitter with two outs in the eighth inning 8
- Brandon Belt headed to disabled list with concussion 5
- Cardinals are interested in David Price, but “would want a financial commitment” from him 47
- Blue Jays, Giants “taking their best shot” at Chase Utley 19
- Settling the Score: Saturday’s results 27
- Baseball is dying, you guys (148)
- Luke Scott released from Korean team after calling coach a “liar” and a “coward” (108)
- Watch Derek Jeter tell Joe Buck to get the heck out of the clubhouse (91)
- Adam Wainwright follows the rules and pays the price (90)
- The Astros did not sign number one overall pick Brady Aiken. This is a big deal. (90)