The Cobb County Commission on Tuesday approved the creation of a trust fund to manage the county’s capital maintenance commitment for SunTrust Park.
Commissioners also approved a transfer of $1.2 million into the trust fund from the county’s general fund.
The county is obligated to pay a maximum of $35 million for repairs and maintenance over the 30-year lease of the stadium, with the Atlanta Braves contributing matching funds.
Commissioner Bob Ott told the audience at the meeting that the trust fund and capital maintenance commitment were all part of Cobb’s agreement with the Braves.
“The county commissioners did anticipate it,” Ott said. “It can only be used for capital improvements to the stadium.”
Some public speakers at that meeting railed against the county’s use of taxpayer money to pay for the Braves stadium.
In addition to the $35 million capital maintenance obligation, Cobb issued $376 million in bonds to help construct the stadium and built supportive transportation infrastructure.
The county intends to pay its share using rent paid by the Braves for the use of the county-owned stadium, revenue raised from a hotel/motel tax, a rental car fee, a Cumberland district tax and a portion of Cobb property taxes.
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