Cumberland Businesses Asked To Invest Big On Braves | WABE 90.1 FM

18
Nov

Cumberland Businesses Asked To Invest Big On Braves | WABE 90.1 FM

Building the proposed new Atlanta Braves stadium involves $300 million in public funds.

Cobb County homeowners would cover about half of that.

The other big chunk is set to come from business owners in the area surrounding the stadium – in Cobb’s Cumberland district.

WABE’s Jonathan Shapiro recently spoke with Tad Leithead, board chair of the Cumberland Community Improvement District, to discuss the deal’s terms.

Leithead began with a short explainer.

“The Cumberland CID is made up of 180 business owners – commercial property owners – who voluntarily tax themselves to fund infrastructure – mostly transportation projects – within the district.”

About 40 percent of the deal’s public funding will come from within the Cumberland district by way of tax hikes on commercial property owners and new hotel fees. Leithead said most understand the deal’s upside.

“I don’t think there’s ever been a hundred percent unanimous vote for anything in history so I’m not going to make the claim that everybody’s on board. So far, no one has told me they’re not on board,” said Leithead.

Cumberland business owners will shell out for stadium construction, a Disney-like trolly system to move people throughout the immediate area, and infrastructure improvements meant to feed into a 45-acre, Braves-designed apartment and entertainment complex.

via Cumberland Businesses Asked To Invest Big On Braves | WABE 90.1 FM.

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