Ott Undecided on Braves Stadium Plan

While some of his colleagues were ecstatic about the prospects of an Atlanta Braves stadium being built near Cumberland Mall, Cobb Commissioner Bob Ott didn't give any indication Thursday about where he stands.

Ott, an East Cobb Republican who represents the area around Interstates 285 and 75 where the proposed stadium would be built, said late Thursday he needs time to evaluate the details of the financing plan released earlier in the day by Cobb Commission Chairman Tim Lee. 

Under terms of the proposed 30-year memorandum of understanding (see attached PDF), Cobb would commit to $300 million -- or 45 percent -- of the $672 million stadium construction cost, with a mixture of revenue bonds and up-front money from the Braves. 

The county would repay its share of the bonds with a number of existing and new taxes in the Cumberland Community Improvement District and by reallocating $260 million in current property taxes over the 30-year life of the agreement (about $8.67 million a year).

The county also would pay $14 million up-front in transportation improvements around the stadium area, and another $10 million would come from existing Cumberland CID revenues. 

Debt service on the bonds will cost Cobb around $17.9 million a year. Lee and fellow commissioners Helen Goreham and JoAnn Birrell praised the proposal and pointed out that Cobb homeowners wouldn't be taxed for the stadium. 

But many details are still to be worked out before the commissioners are scheduled to vote on the proposal on Nov. 26. The Braves plan to relocate from Turner Field for the 2017 season.

Ott told Patch in a Wednesday story that his support for the project depends on the financial details of the stadium financing plan. 

Cobb government spokesman Robert Quigley, who issued Ott's statement, said Thursday the commissioner "will be spending the next week looking at the proposal from the Braves and working with the people in his district to determine if this is the right choice."

Here's the full text of Ott's statement: 

I am glad to see the proposed financial model has been released and is available for public review and comment at www.cobbcounty.org. Many of the residents in District 2 have emailed or called me with their concerns and comments regarding the proposed stadium and associated development. I appreciate their input and apologize for not answering all of the emails. Please know that your comments are being considered by me. 

I personally met with Mike Plant from the Braves management team this morning to discuss these concerns and issues. Among the many issues discussed were traffic, schools and financing for the project.  

Over the next couple of days, they will be providing more information and details concerning many of these issues. I will diligently review this proposal to make sure the best interest of Cobb taxpayers are protected.  

I want to thank the Braves for their interest in making Cobb County their new home.

Earlier Thursday afternoon, Cobb Commissioner JoAnn Birrell said in an interview with Patch that the stadium proposal is a "win-win" for the Braves, the county and Cobb citizens, calling it "a positive step forward."

Like Lee and Goreham, she touted the economic development benefits -- with more than 5,000 new jobs created and $35.8 million in annual earnings once the stadium is completed. 

"I think the return on the investment is going to be huge," Birrell said, referring in particular to a mixed-use project adjacent to the proposed stadium that the Braves would develop.

"The boon it will be to all of Cobb is unknown, but we know that it will be a big boost."