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Originally Posted by corporatejay
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World class fallacy?
The issue really has nothing to do with the Braves stadium, although that is such a salacious soundbyte it is hard to pass up. The real issue here is the county officials saying there is only $20M available of the original $40M bond to purchase the 8,000 acres of land. The issue appears to be more related to not spending the bond money in a timely manner than it does anything else. The bond was approved in 2008 but the purchase decision was pushed back because of economic climate issues at the time. This would dramatically impact the ability to generate the revenues required to repay the bond. There are not enough details to understand where the shortfall is coming from, but it could be something as simple as market adjustment and the property becoming more expensive, not purchasing, and then not being able to recoup the funds.
It should be noted that this money is from a bond. Municipal bonds are used to raise money for very specific purposes and must be spent in a specific timeframe, as they must be repaid at the end of that timeframe. If the money is not spent it is returned back to public (the investors who bought the bonds). In this instance the money was approved for purchase of greenspaces and parks. This is what this bond money must be used for. I suspect the government is recognizing that they are not going to be able to generate the revenues to cover the bond and are electing to not spend the money and turn that cash back toward the repayment of the bond itself. So I don't see where the stadium comes into play here as the funding for it was separate from this bond.
Funding for the Braves park is explained here.
Http://deadspin.com/here's-how-Cobb-...par-1464404976
More information on Cobb County budgets can be found here.
https://cobbcounty.org/index.php?opt...045&Itemid=507