The redevelopment of Turner Field—which was originally built as Atlanta’s Olympic stadium before it was converted into a baseball park in 1997—could provide another boost to local construction if the city’s plans come to fruition. In his Nov. 11 announcement about the Braves’ deal, Mayor Reed said city officials “have already spoken to multiple organizations” interested in redeveloping the area.

Deal Includes New Taxes
The proposed deal's financial terms include a 55/45 split between the Braves and Cobb County, respectively, with the Cobb-Marietta Coliseum and Exhibit Hall Authority owning the ballpark.

The Braves organization plans to spend up to $372 million toward the cost of the project. Of that, the team says it will provide an "upfront commitment" of between $230 million and $280 million. Additionally, it will repay over 30 years an estimated $92 million in bonds to be issued by Cobb County. The Braves will cover any project cost overruns.

Cobb County's contribution totals $300 million, with the majority of that figure, $276 million, coming from $368 million in 30-year revenue bonds that the county plans to issue. The bond issuance total includes $276 million that will be attributed to the county, as well as the $92 million that the Braves will repay.

The county will repay its portion of the bonds through revenues from existing hotel and property taxes, as well as new fees on rental cars, hotel rooms and special district property tax increases.