Awesomer than The Fan.
January 16, 2008
1 Comment.
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The county will also charge a 3% tax on car rentals, as allowed by state law. The naming rights should net millions for the county.
$12 million will come from Gwinnett’s operating budget (the taxpayers), $5 of which is the purchase of the land. The $12 million was “up front” primarily because the entire deal was contingent in part on the land purchase. The remaining $33 million, construction costs, will be funded by bonds which will be paid with revenue from the stadium. Gwinnett has an excellent bond rating which earns us preferential interest rates.
The $12 million has been a concern to local folks but, in reality, it is not much different from the purchase of land for a passive park. After the $12m, the stadium will essentially pay for itself. That’s not a bad deal for us.
BobinGwinnett @ January 19th, 2008 at 10:34 am
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