The above video was a preview of an key vote for the future of the Atlanta Braves franchise that took place yesterday.
Despite Commissioner Cupid’s reservations, the Cobb County Commission approved by a 4 to 1 vote plans for a new $672 million Braves stadium and approved partial public funding for the project.
The vote, which came two weeks and one day after the Braves stunned the baseball world with an announcement of its intention to leave Turner Field after the 2016 season, will direct $300 million in taxpayer dollars toward the estimated $672 million price tag for the proposed new open-air, 41,200 seat stadium that will be built in time for the start of the 2017 season
The $300 million taxpayer share consists of $24 million up-front from the county and $276 million from proceeds of bonds that will be repaid over 30 years from a mix of existing property taxes, existing hotel-motel taxes, a new 3 percent car-rental tax, a new $3-per-night room charge for area hotels and a new tax on area commercial property and apartment complexes.
The stadium will take up 15 acres of a 65-acre tract of land that the Braves will own and develop. Adjacent to the new stadium is a proposed $400 million mixed-use retail development that the Braves will largely control. No taxpayer or public dollars will be used to fund that project. Tuesday’s vote was for the stadium project alone.
With Cobb County’s approval squarely in place, the Braves will now turn quickly toward retaining an architecture firm to begin work on the design for their new stadium.
Below is a rough and early rendering of the proposed Cobb County stadium site that has emerged.