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.
Apr 23, 2014, 1:35 PM EDT
Daniel Nava is headed to the minors one season after hitting .303.
Apr 23, 2014, 1:05 PM EDT
Nick Franklin is trying to find a way into the Mariners’ lineup.
Apr 23, 2014, 12:16 PM EDT
Jesse Crain hasn’t thrown a pitch in a game since June 29 and it doesn’t look like that will be changing any time soon.
Apr 23, 2014, 11:36 AM EDT
It’s been an awful start for the Snakes. Awful enough to get someone fired?
Apr 23, 2014, 11:19 AM EDT
Brewers pitching prospect Johnny Hellweg, who was acquired from the Angels as part of the Zack Greinke swap in July of 2012, has been diagnosed with a torn ulnar collateral ligament and is expected to undergo Tommy John elbow surgery.
Apr 23, 2014, 11:02 AM EDT
Mariners right-hander Hisashi Iwakuma was expected to begin a minor-league rehab assignment this week as he comes back from a spring training finger injury, but instead the team had him throw a 58-pitch simulated game yesterday.
Apr 23, 2014, 10:48 AM EDT
Fenway may be the site of more accomplishments, but it’s easier to see ourselves in Wrigley Field.
Apr 23, 2014, 10:15 AM EDT
San Diego is looking to trade one-time starting catcher Nick Hundley.
Apr 23, 2014, 9:29 AM EDT
Not the best call by instant replay officials in the system’s brief history.
Apr 23, 2014, 9:08 AM EDT
Right now, Cuban players have an incentive to avoid coming straight to the United States. That incentive should be eliminated.
Apr 23, 2014, 8:40 AM EDT
The columnist’s name is Anthony Rieber. And he apparently doesn’t get out much.
Apr 23, 2014, 6:35 AM EDT
Pitching porn in Atlanta. Graphic, hard core pitching porn.
Apr 22, 2014, 11:20 PM EDT
CSNNewEngland.com’s Sean McAdam reports that outfielder Shane Victorino may be activated from the disabled list Wednesday if he makes it through his third minor league rehab game Tuesday night at Triple-A Pawtucket without experiencing any issues.
Apr 22, 2014, 10:01 PM EDT
Cardinals ace Adam Wainwright landed awkwardly while trying to chase down a high-chopper off the bat of Chris Young in the seventh inning Tuesday at Citi Field and left the game with a hyperextended right knee.
Apr 22, 2014, 9:17 PM EDT
Angels fan Tim Sherrill, a resident of Ponoma, California and a member of the United States Air Force, caught Albert Pujols’ 500th career home run on Tuesday night in the nation’s capital …
Apr 22, 2014, 8:53 PM EDT
Albert Pujols hit a three-run shot to left field off Nationals starter Taylor Jordan in the top of the first inning and then crushed a two-run bomb to deep left-center off Jordan in the top of the fifth for the 499th and 500th home runs of his 14-year major league career on Tuesday night in Washington, D.C.
Apr 22, 2014, 8:39 PM EDT
Manny Machado will soon be one phone call away from rejoining the Orioles’ active major league roster. According to Eduardo A. Encina of the Baltimore Sun, the young third baseman has been cleared to embark on a minor league rehab assignment this Friday with the High-A Frederick Keys.
Apr 22, 2014, 7:51 PM EDT
Watch as Albert Pujols hits his 499th career home run Tuesday off Nationals starter Taylor Jordan …
Apr 22, 2014, 7:07 PM EDT
Roger Mooney of the Tampa Tribune reports that Rays left-hander Matt Moore underwent Tommy John reconstructive surgery, as scheduled, Tuesday on his pitching elbow. The procedure was conducted by Dr. James Andrews and deemed a success.
Apr 22, 2014, 6:24 PM EDT
Ivan Nova was diagnosed Sunday with a partially-torn ulnar collateral ligament in his right elbow and is expected to undergo season-ending Tommy John reconstructive elbow surgery. That leaves a big gap in the Yankees’ starting rotation — one that will be filled, at least initially, by left-hander Vidal Nuno.
- Wrigley Field — the most human park in baseball — turns 100-years-old 10
- And That Happened: Tuesday’s scores and highlights 59
- Albert Pujols becomes 26th member of 500 home run club 41
- MLB suspends Martin Maldonado, Carlos Gomez, Travis Snider, and Russell Martin for Easter brawl 48
- “Respect the Game?” Phooey. 106