re: Confirmed: Braves Leaving Turner Field After 2016 Season

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Cobb County government will spend $300 million on a new Atlanta Braves stadium and mixed use development near the interstates 75 and 285, according to a summary of the financial agreement released Thursday morning.
All told, the development will cost $672 million, with the Braves covering the rest of the costs.

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But a summary of details of the MOU show that the county will pay:
$276 million from the coliseum authority, which will issue 30-year revenue bonds to fund the county’s share.
$14 million from the county for transportation improvements.
$10 million from the Cumberland Community Improvement District.

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Existing property taxes will account for $8.7 million of the county’s contribution. The release says there will be no increase in property tax millage rates for homeowners.
However, there are new taxes, including: a new 3-percent rental car tax; a new 3-mill property tax increase for businesses in a Cumberland Special Services District; a new $3 per night charge for hotel rooms in the special services district.

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