SBD/August 21, 2017/Facilities

SunTrust Park Expected To Exceed Projections For Local Financial Impact

SunTrust traffic control costs are expected to come down from initial projections
The full financial effect of SunTrust Park and its neighboring mixed-use development, The Battery Atlanta, is "not yet clear," but initial indications are that the development is "exceeding projections for its first season," according to Jon Gargis of the MARIETTA DAILY JOURNAL. Among the dollars "coming back to the county in relation to the Braves development are property taxes." Before the team’s arrival in Cobb, the property they own around the new ballpark had a "fair market value" of $19.7M. This year, the "fair market value on the same property rose" to $168.1M. The Braves are "expected to pay $454,690, according to the county." Officials with both the county and the Cumberland CID "expect a significant increase in property taxes" when the '18 tax bills are "issued as most of the Battery will be complete by Jan. 1, 2018." The county "foots the bill for police officers to handle traffic control around SunTrust Park on game days," and initial estimates "came to about $900,000 annually." But as the season has "rolled on, the county has seen reductions in the number of needed officers with the cost of traffic control now expected to come down to $400,000 for the season" (MARIETTA DAILY JOURNAL, 8/20).
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