Comments on: Details of Braves’ sweetheart deal with Gwinnett released http://wotbn.net/details-of-braves-sweetheart-deal-with-gwinnett-released/ News from the Carytown and Museum District areas Sun, 12 Feb 2012 00:57:20 +0000 hourly 1 http://wordpress.org/?v=3.3 By: BobinGwinnett http://wotbn.net/details-of-braves-sweetheart-deal-with-gwinnett-released/comment-page-1/#comment-9338 BobinGwinnett Sat, 19 Jan 2008 14:34:05 +0000 http://wotbn.net/details-of-braves-sweetheart-deal-with-gwinnett-released/#comment-9338 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. 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.

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