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 18, 2015, 12:18 PM EDT
The Marlins are off to a disappointing 3-8 start this season and slugger Giancarlo Stanton doesn’t like what he has seen.
Apr 18, 2015, 12:10 PM EDT
Josh Hamilton’s future with the Angels is in question, as the two sides are discussing a number of scenarios to resolve their dispute.
Apr 18, 2015, 11:29 AM EDT
V-Mart took a few days off this week to rest his knee.
Apr 18, 2015, 10:45 AM EDT
Danny Salazar was optioned to Triple-A after struggling during spring training, but he’ll now get an extended opportunity in Cleveland’s rotation.
Apr 18, 2015, 10:00 AM EDT
It’s safe to say that nobody would have guessed this one.
Apr 18, 2015, 8:51 AM EDT
A quick recap of a busy Friday around MLB, including the exploits of Mets right-hander Bartolo Colon.
Apr 18, 2015, 7:17 AM EDT
There are, increasingly, two Angels camps when it comes to the Josh Hamilton matter: Arte Moreno and everybody else.
Apr 18, 2015, 6:49 AM EDT
When Angels owner Arte Moreno was asked if Josh Hamilton would ever play for the Angels again, he said “I will not say that.” With this listing, perhaps Hamilton is saying so himself.
Ruben Amaro on Andy Oliver’s decision to elect free agency: “I think it was a very foolish move on his part, but that’s OK.”
Apr 17, 2015, 11:30 PM EDT
Ruben Amaro seems a little upset that Andy Oliver didn’t want to start the season with Triple-A Lehigh Valley.
Apr 17, 2015, 10:50 PM EDT
The Mets will be stretching out Rafael Montero as a starter at Triple-A Las Vegas before bringing him back to the majors for a spot start against the Marlins.
Apr 17, 2015, 9:58 PM EDT
Mike Trout became the youngest to join the 100/100 club with a two-run home run on Friday night.
Apr 17, 2015, 9:17 PM EDT
Alex Rodriguez has two home runs on Friday night, leaving him two round-trippers shy of tying Willie Mays for fourth on the all-time home run leaderboard.
Apr 17, 2015, 9:11 PM EDT
Matt Carpenter made a cool maneuver to score the tying run in the bottom of the first against the Reds on Friday night.
Apr 17, 2015, 8:45 PM EDT
Neither side was warned, but Ubaldo Jimenez was ejected for hitting Pablo Sandoval with a pitch on Friday evening.
Apr 17, 2015, 7:50 PM EDT
A-Rod is now three home runs away from tying Willie Mays for fourth on the all-time home run leaderboard.
Apr 17, 2015, 7:15 PM EDT
Since 2000, how often have teams that started 9-1 went on to have playoff success?
Apr 17, 2015, 6:20 PM EDT
Mark Buehrle, baseball’s timeless left-hander, is reportedly considering retiring after the season.
Apr 17, 2015, 5:28 PM EDT
Well, he’s certainly not getting the support of the Los Angeles Angels.
Apr 17, 2015, 5:13 PM EDT
Apr 17, 2015, 4:16 PM EDT
Duensing had an ugly outing Thursday in which he turned a blowout into a save situation for closer Glen Perkins.
- Settling the Score: Friday’s results 35
- Josh Hamilton’s teammates say he’s in great shape and ready to play 21
- Mike Trout hit his 100th career home run to become the youngest member of the 100 HR/100 SB club 22
- Make that two: Alex Rodriguez hits second homer of the night, giving him 658 for his career 41
- Alex Rodriguez hit his 657th career home run 48
- Let’s all just stare at Kris Bryant’s numbers for a while 28
- And That Happened: Thursday’s scores and highlights 39
- The wait is over: The Cubs are calling up top prospect Kris Bryant on Friday 99
- The Commissioner’s Office thinks that the Angels could indeed go after Josh Hamilton under his contract (153)
- “Why Ted Cruz is like the Atlanta Braves” (150)
- “We no longer need the terrorists. We’re now so good at terrorizing ourselves.” (143)
- Another argument in favor of making the DH universal (127)
- When it comes to Josh Hamilton, Arte Moreno is a craven opportunist, not a “smart businessman” (116)