Thursday, November 14, 2013
ATLANTA (AP) -- A Cobb County leader says the Atlanta Braves would pay 55 percent of the cost for a new $672 million stadium under terms of a deal that would bring the team to the city's northwest suburbs.
Cobb County Chairman Tim Lee revealed the figure in an interview with The Marietta Daily Journal late Wednesday night.
Lee said the remaining 45 percent of the cost would be funded with no tax increase for more than 95 percent of the county's residents.
The newspaper reports that financing numbers for the project are expected to be released on Thursday. Lee said a large amount of the financing will come from the Cumberland Community Improvement District, the area where the ballpark would be built.
(Copyright 2013, The Associated Press)