clear
Wednesday May 25th, 2016 7:05PM

Report: Braves to pay 55 percent of stadium cost

By The Associated Press
ATLANTA (AP) 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, a Cobb County leader said.

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.

Financing numbers for the project are expected to be released on Thursday, the newspaper reported. Lee said a large amount of the financing will come from the Cumberland Community Improvement District, the area where the ballpark would be built.

"It's a win-win deal for Cobb County and the Braves because it provides a fiscally sound, balanced funding model that takes advantage of the great opportunities provided by the Braves for economic development, job creation, at a good investment for Cobb Countians," Lee said.

Atlanta Mayor Kasim Reed met Wednesday with Atlanta Braves executives to discuss next steps following the team's decision to leave downtown and build the new $672 million stadium in nearby Cobb County, according to Gov. Nathan Deal.

Reed has said Atlanta was unwilling to use taxpayer dollars to match Cobb County's offer of $450 million in public support to the Braves, but the team later disputed that figure. Specific numbers have yet to be released by the team or county officials.

The projected $672 cost to build the stadium also includes a new bridge spanning Interstate-285, Lee said. It would connect the Galleria office park with the 60-acre property where the stadium is expected to be built. The bridge would be used by pedestrians and a shuttle that would pick up fans from around the area and bring them to the game.


© Copyright 2016 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Bartus, Icemen shuts out Gwinnett
Garrett Bartus pitched a 42 save shutout, as the Evansville IceMen topped the Gwinnett Gladiators on a New year
10:23PM ( 2 years ago )
Gator Bowl Preview Capsule
A rematch of last year's Capital One Bowl, which Georgia won 45-31 in Orlando.
8:52PM ( 2 years ago )
Millsap's 34 leads Hawks past Celtics
Paul Millsap had season highs with 34 points and 15 rebounds as the Hawks rallied from an 18-point deficit for a 92-91 win over the Boston Celtics on Tuesday afternoon.
7:44PM ( 2 years ago )
Sports
Falcons fire offensive, defensive line coaches
The Atlanta Falcons have fired defensive line coach Ray Hamilton and offensive line coaches Pat Hill and Paul Dunn.
7:02PM ( 2 years ago )
Best, worst of Falcons' 4-12 season
Best Game: They'd been eliminated from playoff contention previous week vs. New Orleans, but the Falcons showed some heart with Dec. 1 overtime victory over Bills in Toronto.
6:21PM ( 2 years ago )
Gonzalez's career ends with another Falcons loss
Tony Gonzalez is ready for the next chapter of his life.
9:47PM ( 2 years ago )
Professional Sports
Missing Ga. bank director arrested in Brunswick
A bank director accused of losing millions of investors' dollars before vanishing last year was arrested Tuesday during a traffic stop in a city in south Georgia.
7:00PM ( 2 years ago )
S&P 500 index has its best year since 1997
The stock market closed out a record year with more all-time highs on Tuesday, giving U.S. indexes their biggest annual gains in almost two decades.
6:56PM ( 2 years ago )
Colorado readies for 'Green Wednesday' pot sales
Police were adding extra patrols around pot shops in eight Colorado towns that plan to allow recreational sales to anyone over 21 on Jan. 1.
1:52PM ( 2 years ago )
Business News
Sex offender held in Hall County for failing to register
A 47-year-old man was booked into the Hall County Jail Tuesday, being held without bond for allegedly failing to register as a sex offender, his second such arrest.
6:09PM ( 2 years ago )
Pharmacy robberies may involve same suspect
Oakwood Police Tuesday afternoon released details in a pharmacy robbery they're investigating, similar to one that happened in the Hall County Tuesday morning.
5:46PM ( 2 years ago )
Victim critical following apartment fire
A 41-year-old woman was in critical but stable condition Tuesday after being rescued from an apartment fire in Forsyth County late Monday afternoon.
3:16PM ( 2 years ago )
Local/State News
Dawsonville's Raymond Parks named to NASCAR Hall of Fame for 2017
Georgia’s Raymond Parks played a strong role in formation of NASCAR. On Wednesday, it was announced that he will be recognized for that role.
6:00PM ( 1 hour ago )
Baseball: 2016 a disappointment? No way
It was a lot to expect coming into the 2016 season for area baseball teams coming off the heels of arguably the best season ever for area teams in 2015...
5:05PM ( 2 hours ago )
Falcons announce 2016 mini-camp dates
The Atlanta Falcons announced on Wednesday that their 2016 minicamp will take place at the club’s Flowery Branch training facility beginning on Tuesday, June 14 and will conclude on Thursday, June 16. All three practices will be open to the public.
By AccessWDUN Staff
5:02PM ( 2 hours ago )
Turner takes Toccoa Raceway Limited Late Model victory
Clayton Turner powered to the front of the Limited Late Model field Saturday night at Toccoa Raceway, and went on to score the feature victory at the Toccoa, Ga. speedway.
12:00PM ( 7 hours ago )
Racers double up in Summit ET races at Atlanta Dragway
Saturday was a day of doubles at Atlanta Dragway in Commerce, Georgia, as drivers and fans came out for double Summit ET racing action.
By Jerry Towns
8:00AM ( 11 hours ago )