Cobb County commissioners took a big step toward building a new $672 million stadium for the Atlanta Braves. The commissioners voted 4-1 to approve the entry into a memorandum of understanding with the baseball team at their meeting Tuesday evening. The deal calls for hundreds of millions of dollars in public funds to help pay for the stadium and entertainment complex. The 30-year agreement calls for a mix of reallocating existing property tax revenue and implementing new taxes on business and tourism in the area.
People in Cobb County got their chance Monday to weigh in on the proposed new Atlanta Braves stadium in their backyards. Meanwhile, watchdogs and taxpayer groups are mobilizing to slow the process of approving public money for the project. Three Cobb County commissioners had separate town halls to gather public input ahead of a vote scheduled Tuesday evening. But one watchdog group is pushing for more: a public referendum.
People in Cobb County will now have their chance to give input on the Atlanta Braves’ new stadium deal. Commissioners have scheduled three town hall meetings for Monday, November 25, specifically for public input on the development. The Commission is set to vote on the issue Tuesday. County officials have been largely criticized for not seeking public input on the project. Before the town halls were scheduled, William Perry of Common Cause Georgia publicly called for Cobb leaders to delay their vote on the project to allow public comments.
When the Braves leave for the suburbs in 2017, the City of Atlanta will lose about $4 million in annual sales tax revenue. That figure comes from an economic impact study by Professor Bruce Seaman of Georgia State University.
The Braves are just three seasons and $672 million away from a brand new home in Cobb County. A portion of that money, however, is expected to come not from the team, but from Cobb taxpayers. That could prove problematic. Atlanta's Mayor Kasim Reed said keeping the Braves in Atlanta could cost city taxpayers millions. But what does the new stadium mean for taxpayers in Cobb County?
The Atlanta Braves plan to move from their home at Turner Field to a new stadium in Cobb County in 2017. The new ballpark will be at the intersection of I-75 and I-285 in the Cumberland Mall/ Cobb Galleria area. The new stadium is projected to cost about $672 million including parking, infrastructure, and land. Atlanta Braves President John Scherholz says team officials wanted to find a prime destination for Braves fans.
A well-known businessman who operates a restaurant on the Marietta Square outside Atlanta is accused of calling in bomb threats that shut down two of Georgia's largest courthouses. Authorities said the threats led to employees being evacuated from the Cobb and Cherokee county courthouses on Tuesday.