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The details are in: Cobb County residents will be paying a lot of money for the new Braves park

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Via Deadspin, we have the Memorandum of Understanding outlining the method in which the Braves new ballpark in Cobb County will be paid for. Here it is if you’d like to check it out.

As mentioned this morning, it’s 55% Braves money, 45% Cobb County. The breakdown is like so, though:

  • The Braves will pay $280 million up front, adding $92 million more in the future;
  • Cobb County will pay $14 million up front in transportation improvements and $10 million more in general funds from a special business district.
  • The county will finance the remaining $276 million by issuing revenue bonds.

Of course, payments need to be made on bonds. They’ll be paid like so:

  • $400,000 a year from a new rental car tax;
  • $940,000 a year from an existing hotel/motel tax;
  • $2,740,000 a year from a new hotel/motel fee in that special business district;
  • $5,150,000 a year from a property tax increase in the special business district;
  • $8,670,000 a year from reallocating Cobb County property taxes.

The upshot? Politicians can and will say that they’ve only raised taxes in two small places — on out of towners in hotels and people in a special business district who probably knew this sort of thing could happen — and thus it’s a nice, impact-light, conservative-happy financing plan.

Except when you reallocate existing taxes to pay for a ballpark, you are taking them away from uses to which they are already being put. How much of the over $10 million a year moved toward the ballpark is being taken away from already-strapped schools, mental health services, parks, police, fire and other public uses?

And except that, if those rental car and bed taxes don’t provide the funds these estimates think they will, it will almost certainly be taxpayers footing the bill for the shortfall.

Also: if they have the will to raise new taxes in special improvement districts and on out-of-towners for this, why would doing it for any other purpose have led to accusations of creeping socialism and business and job-killing and the like? “Because we like sports,” is the answer, I suppose, “and we’ll now get nice seats at Braves games.”

All of which would be fine if the ballpark would bring economic benefits — benefits which go to the public who is paying for 45% of it — in equal or greater measure. But as we know from history, it is rarely if ever the case that sports facilities or events bring such benefits.

But hey, if that’s what Cobb County wants, at least it’s being done through the democratic process, right? It may be a bad decision to use public funds to pay for the Braves new park, but there’s nothing that says that taxpayers can’t decide to do dumb things. Right?

Because there are no new taxes here outside of the self-taxing CID, the County Commission can approve the proposal without a countywide referendum. Cobb County residents will cover nearly half of the Braves’ ballpark without getting to vote on it.

Oh. Well then.

Mets owners get some breathing room on their Bernie Madoff settlement payments

New York Mets owner Fred Wilpon stands on the field before baseball's Game 3 of the National League Division Series against the Los Angeles Dodgers, Monday, Oct. 12, 2015, in New York. (AP Photo/Kathy Willens)
Associated Press
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For years the central fact of life of the New York Mets has been that their owners, the Wilpon family and Saul Katz, lost a ton of money after investing it with friend and business partner Bernard Madoff, perpetrator of the biggest Ponzi scheme in history. It has hampered their payroll and led to huge amounts of borrowing and restructuring that, before last year’s pennant run, seemed like it’d be a millstone on the Mets competitive prospects for years to come.

In addition to losing money, it was later determined that Katz and the Wilpons unfairly gained in some other respects and thus they ended up having their phony earnings clawed back via a settlement with the trustee managing the fallout of the Madoff scandal.  The upshot: the Wilpons and Katz, in addition to their losses, were ordered to pay nearly $60 million dollars back, half payable this week, half payable next year. That’s a lot of money for anyone to fork over and this week’s payment loomed large.

Now, however, Adam Rubin of ESPN New York reports that the Wilpons and Katz will get some breathing room. Specifically, they have modified their agreement with the trustee and some of the owed money has been deferred. Instead of some $29 million payable this week, they will only have to pay $16 million. The remainder will be paid in four installments — from 2017 through 2020 — with an interest rate of 3.5 percent on the unpaid balance, Rubin says.

Now, there obviously was no promise that the $13 million saved this week be invested in the baseball team, but it’s probably a good thing overall for the Mets if their owners’ debt payments are reduced a bit.

Mike Napoli hit a homer for a fan with cancer

CLEVELAND, OH -  MAY 30: Mike Napoli #26 of the Cleveland Indians rounds the bases after hitting a solo home run during the sixth inning against the Texas Rangers at Progressive Field on May 30, 2016 in Cleveland, Ohio. (Photo by Jason Miller/Getty Images)
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Last night a fan named Kathi Heintzelman showed up at Progressive Field in Cleveland with a sign asking Indians first baseman Mike Napoli to hit a home run for her and to give her a hug. But there was a reason beyond her love for Mike Napoli. She’s starting chemotherapy today and the hug and homer would be a nice thing.  Hard to disagree with that, even if everyone knows that ballplayers can’t hit homers on demand.

Well, most players can’t. Mike Napoli did the easy part before the game, giving her a hug. Then in the sixth inning, he went yard:

 

Whether you believe that such things can be fated or if you merely acknowledge that Heintzelman asked Napoli for a homer at a good time — he’s on a hot streak right now and has hit bombs in four of his last 11 games — it’s a great story.

 

The Twins recall Byron Buxton

Byron Buxton
Getty Images
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Byron Buxton has been recalled from Triple-A Rochester by the Twins.

Buxton will replace Danny Santana, who was placed on the disabled list following a hamstring injury. But the bigger picture here is that Buxton will get a fresh go-around to show that he is the future of the Twins like so many assume he will be. The 22-year-old hasn’t hit so far in the majors, but he batted .336/.403/.603 with six homers, four steals, and a 26/11 K/BB ratio over 129 plate appearances after his demotion to Triple-A last month.

At this point the Twins, who stink on ice, need to just put their top young player in the game and let him learn to swim at the big league level rather than try to squeak out a few extra relatively meaningless wins with guys who won’t be part of the next contending Twins team.

92-year-old World War II vet throws a nifty ceremonial first pitch

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Think of how many bad ceremonial first pitches you’ve seen. From the worm burners from local business owners and pillars of the community at minor league games to ex-big leaguers who obviously haven’t picked up a ball since they retired to the famous celebrity ones that go viral the next day, there are probably a lot more bad first pitches out there than good ones.

But when the good ones come, they’re really enjoyable. And few are more enjoyable than the one which preceded yesterday’s Padres-Mariners game in Seattle. The pitcher: Burke Waldron, a 92-year-old veteran of World War II. He did it in his dress whites. He ran out onto the field beforehand. And though his catcher didn’t set up the full 60 feet, six inches away from where Waldron threw it, it was still a spiffy pitch. Way better than most: