Thursday, November 14, 2013
ATLANTA (AP) -- Cobb County officials have released key details for the public financing of a new $672 million Atlanta Braves stadium, saying they'll use a mix of existing taxes as well as new taxes on business and tourism.
The deal will cover 30 years and the Braves say they will be taking on more than 90 percent of the upfront costs for the stadium. A team official also said no personal seat licenses will be used. The licenses, which require an upfront fee from season ticketholders, have been unpopular in other projects.
Cobb County officials said Thursday the public will be responsible for roughly 45 percent, or $300 million. The Braves will be contributing about 55 percent, or $372 million.
Cobb County commissioners are set to vote on the plan Nov. 26.
Copyright 2013 Associated Press