Quote:
Originally Posted by Senator Clay Davis
I like how you posted that Deadspin article New Era, because it it shows what a terrible deal for Cobb County it was. They have to pay nearly $9 million to the Braves a year for 30 years basically for the right to have them play in Cobb County. There's also a link in the same article showing Cobb County has to lay off or furlough teachers because of revenue shortages. So yeah, thanks for proving these deals are generally atrocious for the moronic counties that do them.
|
Why call it paying the Braves - that added dramatization is not required. The deal is terrible for taxpayers as it actually is:
A reallocation of more than 8.5M per year (for 30 years) from Cobb County general revenue (from regular property taxes) to fund stadium bond/debt financing.
The key being that 'reallocation' (instead of new taxation) allowed the deal to pass without what would have otherwise required a referendum. It drains over 250M from the county over the term, and is only possible because no new taxes were levied on residents. The binding referendum was put in place to protect citizens against exactly what their elected officials ultimately did, using that loophole.