11-14-2013, 10:10 AM
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#1122
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Lifetime Suspension
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How Cobb County will pay for the new Braves stadium:
http://deadspin.com/heres-how-cobb-c...ium=socialflow
Quote:
The county will finance the remaining $276 million by issuing revenue bonds. As for repaying those bonds, here are the bullet points. Remember, each figure is the annual cost over 30 years.
$400,000 from a new rental car tax.
$940,000 from the existing hotel/motel tax.
$2,740,000 from a new hotel/motel fee in the Cumberland CID.
$5,150,000 from a property tax increase in the CID.
$8,670,000 in relocation of existing Cobb County property taxes.
If you're against publicly financed stadiums (and you ought to be), that last one is startling. While the majority of Cobb County residents won't be paying any additional taxes to fund the Braves' stadium, a large amount of their existing tax payments will cover for the costs. That's $8.67 million a year, for 30 years, that Cobb County could spend on other things (say, rehiring all those teachers) but will instead use to build a ballpark.
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http://en.wikipedia.org/wiki/Opportunity_cost
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