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.
Aug 20, 2014, 8:43 PM EDT
The Angels just got dealt a potentially-major blow. Garrett Richards — who has suddenly developed into an ace this season at age 26 — was taken off on a stretcher Wednesday evening at Boston’s Fenway Park after suffering what looked to be a very serious right knee injury in the bottom of the second inning of his start against the host Red Sox.
Aug 20, 2014, 8:15 PM EDT
Watch as Reds outfielder Billy Hamilton pulls off a sensational double play Wednesday in St. Louis …
Aug 20, 2014, 7:39 PM EDT
A sudden torrential downpour Tuesday night in Chicago — and complications with applying the tarp — left Wrigley Field unplayable even after four hours of maintenance by the grounds crew, so the Cubs were awarded a 2-0 victory over the visiting Giants because that was the score when was play was halted after the top of the fifth inning. The Giants protested, and it actually worked …
Aug 20, 2014, 7:14 PM EDT
Padres center fielder Cameron Maybin has officially been reinstated from his 25-game amphetamine suspension.
Aug 20, 2014, 6:21 PM EDT
Yankees ace Masahiro Tanaka was diagnosed in early July with a partially torn ulnar collateral ligament in his right elbow — the injury that almost always leads to Tommy John reconstructive elbow surgery — but he’s trying the rest and rehab route first and it’s actually going pretty smoothly so far.
Aug 20, 2014, 5:17 PM EDT
Wil Myers is off the disabled list after missing nearly three months with a fractured right wrist and the reigning Rookie of the Year winner is back in the Rays’ lineup.
Aug 20, 2014, 4:46 PM EDT
Over the weekend Carlos Beltran was cleared to play the outfield for the first time since May, but now his season-long elbow problems have returned and the 37-year-old has been scratched from the Yankees’ lineup.
Aug 20, 2014, 4:20 PM EDT
Swisher turns 34 years old in November and has two seasons remaining on his contract, at $15 million per year.
Aug 20, 2014, 3:30 PM EDT
He’s going to have his pick of landing spots, and Boston is just one of a zillion teams who would like him.
Aug 20, 2014, 3:15 PM EDT
Gerrit Cole’s lengthy minor-league rehab assignment is over and the Pirates have activated the former No. 1 overall pick from the disabled list for tonight’s start against the Braves.
Aug 20, 2014, 2:58 PM EDT
Joe Posnanski says the Royals’ plan is finally falling into place and has their fans believing they can get back to the glory days of the 1970s.
Aug 20, 2014, 2:50 PM EDT
Derek Holland’s minor-league rehab assignment has been a mixed bag, but after allowing four runs in his latest outing the Rangers left-hander proclaimed himself ready to rejoin the rotation.
Aug 20, 2014, 2:44 PM EDT
A nice gesture and some good customer service by the Cubs.
Aug 20, 2014, 1:31 PM EDT
Jenna and I talk about the tarp problem at Wrigley Field last night
Aug 20, 2014, 1:03 PM EDT
A long and rich tradition of giving up expensive things for a jersey number continues.
Aug 20, 2014, 12:48 PM EDT
No biggie, just two 42-year-old should-be Hall of Famers with a combined 20 All-Star game appearances and 1,023 career homers running into each other in the Des Moines, Iowa airport.
Aug 20, 2014, 12:16 PM EDT
When the Rockies declined their $4.25 million option on Rafael Betancourt and re-signed him to a minor-league deal the assumption was that he wouldn’t be a factor this season following Tommy John elbow surgery last August.
Aug 20, 2014, 11:51 AM EDT
Rockies outfielder Carlos Gonzalez underwent season-ending knee surgery Monday and now there’s some doubt whether he’ll be fully recovered for the beginning of spring training.
Aug 20, 2014, 11:19 AM EDT
Sanchez’s rehab assignment was previously put on hold when he took a foul ball off the mask two weeks ago and that same thing happened Saturday at Triple-A.
Aug 20, 2014, 10:47 AM EDT
Milwaukee had already shut down Jim Henderson for the season with shoulder problems and now the Brewers announced that the 31-year-old reliever will undergo a “clean up” surgery on his labrum and rotator cuff.
- Giants win protest, will complete rain-halted game at Wrigley Field on Thursday afternoon 11
- Royals might actually know what they are doing 23
- Curt Schilling reveals that he was diagnosed with mouth cancer, blames smokeless tobacco 70
- Clown shoes in Chicago: the Cubs grounds crew couldn’t get the tarp on the field 58
- And That Happened: Tuesday’s scores and highlights 69
- Tony La Russa denies that Kirk Gibson’s job is safe 22
- Pirates activate Andrew McCutchen from the disabled list 2
- HBT Daily: They’ve dropped six straight, but the Pirates may be the Wild Card favorites 2
- Mike Matheny addresses turmoil in Ferguson: “It’s a sad situation. It’s a tough situation for our city” (126)
- Here’s today’s dose of barfy Derek Jeter sentiment (82)
- Let’s speed up the pace of play. But let’s not be gimmicky about it. Let’s just enforce the rules. (74)
- And That Happened: Tuesday’s scores and highlights (69)
- Curt Schilling reveals that he was diagnosed with mouth cancer, blames smokeless tobacco (69)