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 1, 2015, 10:45 PM EDT
Johnny Cueto is due to become a free agent five days after the 2015 World Series and he has said that he will not allow in-season extension negotiations. So the countdown clock is on in Cincinnati’s front office, and it sure looks like time is going to run out.
Apr 1, 2015, 9:28 PM EDT
As noted by CSNChicago.com’s Dan Hayes, White Sox left-hander Chris Sale struck out 13 batters over six-plus innings of one-run ball Wednesday in a game against a group of Reds minor leaguers.
Apr 1, 2015, 8:34 PM EDT
Petit batted .278/.300/.423 with eight doubles and two home runs in 100 plate appearances last season for the Astros. He wasn’t going to make their Opening Day roster this spring, but the versatile 30-year-old infielder could be of immediate use to the Yankees …
Apr 1, 2015, 7:41 PM EDT
As first reported by Brian MacPherson of the Providence Journal, Red Sox catcher Christian Vazquez will undergo Tommy John reconstructive elbow surgery on Thursday morning.
Apr 1, 2015, 7:07 PM EDT
Martinez wraps up the spring with a 2.86 ERA and 21 strikeouts in 22 innings. He was officially named the Cardinals’ fifth starter on Monday …
Apr 1, 2015, 6:12 PM EDT
Tigers setup man Bruce Rondon was supposed to make an appearance in Wednesday’s Cactus League game against the Padres, but he woke up with a sore shoulder and couldn’t shake the discomfort during pregame stretching.
Apr 1, 2015, 4:50 PM EDT
Jenna and I continue to preview the divisions. Next up: the NL East.
Apr 1, 2015, 4:26 PM EDT
Matuella started six games this season, throwing 25 innings with a 1.08 ERA and 24 strikeouts.
Apr 1, 2015, 4:15 PM EDT
With a new GM and questions surrounding the futures of Troy Tulowitzki and Carlos Gonzalez, where are the Rockies headed?
Apr 1, 2015, 3:58 PM EDT
Allen Craig hit one today. Yawn.
Apr 1, 2015, 3:03 PM EDT
Now you all will know when it is time to “MAKE SOME NOISE!!!!!!”
Apr 1, 2015, 2:14 PM EDT
Are we there yet?
Apr 1, 2015, 1:40 PM EDT
Verlander has never been on the disabled list in his 10-year career.
Apr 1, 2015, 12:00 PM EDT
The Phillies are going to be bad in 2015. But just how bad?
Apr 1, 2015, 11:50 AM EDT
Philadelphia’s pitching staff isn’t exactly stacked, but Gonzalez blew his chance to make the team by allowing 12 runs in 14 spring training innings.
Apr 1, 2015, 11:19 AM EDT
Rendon injured the knee on March 9.
Apr 1, 2015, 11:03 AM EDT
The Mets are locking up one of the best defensive center fielders in the game.
Apr 1, 2015, 10:47 AM EDT
If he crushes Triple-A pitching he’ll be back soon enough.
Apr 1, 2015, 10:30 AM EDT
And it’s as random as it usually is.
Apr 1, 2015, 10:15 AM EDT
Miami gave up left-hander Brian Flynn and minor leaguer Reid Redman to get Crow from Kansas City.
- Christian Vazquez to undergo Tommy John surgery 9
- 2015 Preview: Colorado Rockies 4
- 2015 Preview: Minnesota Twins 18
- 2015 Preview: Philadelphia Phillies 30
- 2015 Preview: Cincinnati Reds 47
- The average Major League Baseball salary this year will be more than $4 million — a record 22
- 2015 Preview: Tampa Bay Rays 21
- The Cubs assign Kris Bryant and Addison Russell to the minors, option Javier Baez as well 70
- Ex-Cardinals outfielder Curt Ford was assaulted in St. Louis and told to “go back to Ferguson” (122)
- David Ortiz: “Nobody in MLB history has been tested for PEDs more than me” (118)
- Rob Manfred says it would be hard to reinstate Pete Rose in a limited way (91)
- The MLBPA releases a statement on Kris Bryant, mentions possible litigation (90)
- Did David Ortiz admit to more than he realized with his Players’ Tribune editorial? (88)