Politics & Government
It's Official: Braves are Cobb County Bound
Two-plus weeks ago such a notion wasn't in the mindset of most, but now that's it's becoming a reality, will this ultimately be a home run or a big whiff for the City of Atlanta?
By Patch Editor Wendy Parker
By a 4-1 vote, the Cobb Board of Commissioners on Tuesday approved a memorandum of understanding to commit $300 million of public funding toward a $672 million baseball stadium in the Cumberland Mall area.
The memorandum of understanding is a "framework" that will allow the county to continue refining a 30-year agreement with the Braves, who are aiming to leave their Turner Field home after three more seasons and begin play in their new Cobb confines in 2017.
That agreement includes a $400 million mixed-use development the Braves will be building next to the stadium, and that team and county officials have said will also provide substantial economic benefits.
The exact stadium location is a 60-acre tract is near the congested 285/75 interchange, and is bordered by Cobb Parkway, Windy Ridge Parkway and Circle 75 Parkway, north of the mall and Cobb Galleria Centre area.
The stadium will be built on 15 of those acres with revenue bonds issued by the Cobb-Marietta Coliseum and Exhibit Hall Authority, which also operates the Galleria and the Cobb Energy Centre.
Anticipating the commission vote, the authority on Monday approved the agreement between Cobb and the Braves by a unanimous vote.
The county will fulfill its repayment of the bonds with $8.7 million in annual funding from existing tax dollars over the 30-year life of the Braves agreement. In addition, a new car rental tax in Cobb and additional taxes in the Cumberland Community Improvement District will be levied.
The vote came just a tad more than two weeks after the Braves shocked many by pronouncing they would leave their downtown Atlanta home of five decades and move to Cobb.
By a 4-1 vote, the Cobb Board of Commissioners on Tuesday approved a memorandum of understanding to commit $300 million of public funding toward a $672 million baseball stadium in the Cumberland Mall area.
The memorandum of understanding is a "framework" that will allow the county to continue refining a 30-year agreement with the Braves, who are aiming to leave their Turner Field home after three more seasons and begin play in their new Cobb confines in 2017.
That agreement includes a $400 million mixed-use development the Braves will be building next to the stadium, and that team and county officials have said will also provide substantial economic benefits.
The exact stadium location is a 60-acre tract is near the congested 285/75 interchange, and is bordered by Cobb Parkway, Windy Ridge Parkway and Circle 75 Parkway, north of the mall and Cobb Galleria Centre area.
The stadium will be built on 15 of those acres with revenue bonds issued by the Cobb-Marietta Coliseum and Exhibit Hall Authority, which also operates the Galleria and the Cobb Energy Centre.
Anticipating the commission vote, the authority on Monday approved the agreement between Cobb and the Braves by a unanimous vote.
The county will fulfill its repayment of the bonds with $8.7 million in annual funding from existing tax dollars over the 30-year life of the Braves agreement. In addition, a new car rental tax in Cobb and additional taxes in the Cumberland Community Improvement District will be levied.
The vote came just a tad more than two weeks after the Braves shocked many by pronouncing they would leave their downtown Atlanta home of five decades and move to Cobb.
Pleas from the Atlanta City Council for the organization to reconsider the move, were ignored by the Braves, whose lease agreement at Turner Field is set to expire in 2016. So with another key step in the process taken, the Braves are officially on their way to Cobb County.
Two-plus weeks ago such a notion wasn't in the mindset of most. But now that it's becoming a reality, has the City of Atlanta whiffed, or will its leaders respond with a mighty swing that will ultimately be a revitalizing home run for the Turner Field area and its surrounding neighborhoods?
Stay tuned ...
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- Hunt Archbold contributed to this story
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