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Cobb may have given away too much -- only time will tell.
I can agree to that.
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Originally Posted by arjay57
My point is simply that it's silly for Atlanta to moan and groan about how evil Cobb county and the Braves are. The city didn't aggressively pursue the Braves and did not utilize the options it had at hand.
COA perused them more than enough. Government shouldn't be giving preference to any one business, only to all businesses.
Quote:
Originally Posted by arjay57
In addition to the things I've already mentioned, it's still not clear why the city was unwilling to use any of its 28.56% unfettered share of the hotel tax. The Braves are responsible for 300,000 out-of-state visitors and 110,000 nights each year in local hotels and motels. What could be a more appropriate use for the taxes generated by that?
I agree the Braves have a positive impact, as does almost any business. But look at the details of that report. Most of the benefits are regional or state-wide. They are only bringing in $8.6M a year to both local and state taxes. That will take a long time to pay back the $400M Cobb is paying them.
If a hotel tax was the only thing that was being taxed to pay for a smaller part of this then that would be one thing. But that the single largest source is "existing" Cobb Co property taxes is pretty atrocious.
I agree the Braves have a positive impact, as does almost any business. But look at the details of that report. Most of the benefits are regional or state-wide. They are only bringing in $8.6M a year to both local and state taxes. That will take a long time to pay back the $400M Cobb is paying them.
If a hotel tax was the only thing that was being taxed to pay for a smaller part of this then that would be one thing. But that the single largest source is "existing" Cobb Co property taxes is pretty atrocious.
110,000 hotel nights per year is a pretty big deal. “The Braves have a significant impact on Atlanta’s hospitality industry during a period when convention traffic slows,” William Pate, president and CEO of the Atlanta Convention & Visitors Bureau, said in a statement to Atlanta Business Chronicle. “Visitors come to Atlanta every summer to attend a Braves game and take in the city’s attractions and restaurants.”
Seems like that would be a justification to loosen up some of the hotel tax collections that the city is tossing into its general fund. That's how they are financing the $200 million in bonds for the Falcons stadium.
Of course the Braves have already pumped $125 million into Turner field, and they said they'd be willing to spend more.
110,000 hotel nights per year is a pretty big deal. “The Braves have a significant impact on Atlanta’s hospitality industry during a period when convention traffic slows,” William Pate, president and CEO of the Atlanta Convention & Visitors Bureau, said in a statement to Atlanta Business Chronicle. “Visitors come to Atlanta every summer to attend a Braves game and take in the city’s attractions and restaurants.”
Seems like that would be a justification to loosen up some of the hotel tax collections that the city is tossing into its general fund. That's how they are financing the $200 million in bonds for the Falcons stadium.
Of course the Braves have already pumped $125 million into Turner field, and they said they'd be willing to spend more.
And you think even most of those hotel stays are going to Cobb? Nope. Many will still stay in the city at no cost. Why isn't Cobb able to fund this 100% with hotel taxes?
Cobb may have given away too much -- only time will tell.
My point is simply that it's silly for Atlanta to moan and groan about how evil Cobb county and the Braves are. The city didn't aggressively pursue the Braves and did not utilize the options it had at hand.
In addition to the things I've already mentioned, it's still not clear why the city was unwilling to use any of its 28.56% unfettered share of the hotel tax. The Braves are responsible for 300,000 out-of-state visitors and 110,000 nights each year in local hotels and motels. What could be a more appropriate use for the taxes generated by that?
As true as that analysis may be, the problem there, as some have pointed out, is that the Georgia Dome hosts a lot more events than just those of a professional sports team. Turner Field can't say the same. A fairer comparison would be the economic impacts of the Dome vs. those of the Ted. And let's not forget that the new Falcons stadium will probably see a modest increase in the number of events over the Dome.
As far as redevelopment around the stadium, how is it that they can get 60 developers sniffing around the Cobb site, yet Summerhill was allowed to languish year after year?
Its quite simple. About $400 million of government cash is on the table in the Cobb deal. The Cobb site has "languished" year after year prior to this stadium proposal and associated gov't largess. Why is this so difficult to understand?
Great to know that the anecdotes of two of Schuerholz's drinking buddies' willingness to buy season tickets b/c the stadium is 8 miles closer was enough to convince him this was a good business decision. Also really good to know the entire traffic mitigation plan is to piggyback on already minimalist expansion plans for I-75 (that is to say, there is no traffic mitigation plan). A toll lane and diverging diamond ramp meant to reduce the existing hell of I-75 isn't exactly going to fix the unmitigated disaster hitting Cobb county in three years.
Dispense w/ the excuses...Cobb County hucked hundreds of millions at the Braves and assumed much of the risk. It's a half cocked plan at best given the minimal budgeting for traffic and a complete boondoggle that can bankrupt the county at the worst once rosy revenue projections don't line up.
Great to know that the anecdotes of two of Schuerholz's drinking buddies' willingness to buy season tickets b/c the stadium is 8 miles closer was enough to convince him this was a good business decision. Also really good to know the entire traffic mitigation plan is to piggyback on already minimalist expansion plans for I-75 (that is to say, there is no traffic mitigation plan). A toll lane and diverging diamond ramp meant to reduce the existing hell of I-75 isn't exactly going to fix the unmitigated disaster hitting Cobb county in three years.
Dispense w/ the excuses...Cobb County hucked hundreds of millions at the Braves and assumed much of the risk. It's a half cocked plan at best given the minimal budgeting for traffic and a complete boondoggle that can bankrupt the county at the worst once rosy revenue projections don't line up.
What excuses? So you ignore all of the detail on how the team worked with the city and why Turner Field wasn't suitable for the long term, and you focus on an anecdote?
The team made a business decision. The city made a business decision. Why is that so hard to understand and why do people like you always try to predict doom and gloom?
There is an interesting brand new thread here at CD about the mayor's office & the rebuttal they have issued in regard to statements made by Schuerholz & others, such as in that MDJ interview.
What excuses? So you ignore all of the detail on how the team worked with the city and why Turner Field wasn't suitable for the long term, and you focus on an anecdote?
The team made a business decision. The city made a business decision. Why is that so hard to understand and why do people like you always try to predict doom and gloom?
I really think the "getting to the ballpark" aspect of Turner Field is not nearly as bad as some people, Schuerholz included, make it out to be. Gwinnett ticket holders in particular are probably going to have just as difficult of a time getting to the new stadium as they are to the Ted. And with Turner Field, they had an option to park-and-ride, which, for some reason, not many chose to take advantage of. Well, have fun choosing between 285 and 85-south-75-north at that time of the day.
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