Usher Melvin Russ dances in the aisle during the sixth inning of an exhibition spring training baseball game between the Atlanta Braves and the New York Yankees at the Brave’s new stadium, SunTrust Park, in Atlanta, Friday, March 31, 2017. (AP Photo/David Goldman)
Photo: The Atlanta Journal-Constitution
Photo: The Atlanta Journal-Constitution

Cobb creates trust fund for Braves stadium obligation

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.”

Last week, the county passed a $405 million budget that relied on $21 million in one-time contingency funds and slashed funding for local non-profits. 

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.

MYAJC.COM: REAL JOURNALISM. REAL LOCAL IMPACT.

The AJC's Meris Lutz keeps you updated on the latest happenings in Cobb County government and politics. You'll find more on myAJC.com, including these stories: 

Never miss a minute of what's happening in Cobb politics. Subscribe to myAJC.com.

In other Cobb news:

Authorities identified the woman as Melissa Fisher, who was reported missing by a coworker last week.
X