The five documents at the bottom of this article reflect the draft agreement between the County and the Braves as of Wednesday, May 7 and are subject to change as negotiations continue.
The Cobb Board of Commissioners anticipates voting on the proposed agreements on May 27 during their regularly scheduled commission meeting. The agreements are necessary before construction can commence on the new Cumberland-area ballpark that the Braves hope to be playing in beginning with the 2017 season.
The documents show the Braves will be responsible for all construction cost overruns, and the team will be playing in the new stadium through the 2046 season.
The stadium development agreement outlines the project’s budget and taxpayers’ obligations toward funding its construction. The budget lists the “total project cost” at $622 million, with a “maximum stadium cost” of $672 million.
The “county contribution” toward the budget is $368 million, including $92 million the county says will be repaid with $6.1 million in annual rent payments from the team.
Cobb is planning a $368 million bond issuance to finance the stadium.
At $230 million, the Braves are slated to pay 37 percent of the stadium project’s up-front costs, which could increase to 42 percent if the team contributes $50 million in discretionary funds.Assurance Agreement DRAFT 05-06-14
Construction Administration Agreement DRAFT 05-06-14
Development Agreement DRAFT 05-06-14
Non-Relocation Agreement DRAFT 05-06-14
Stadium Operating Agreement DRAFT 5-7-14