While I remain a strong advocate of moving the Braves to Cobb, I question some of the logic employed by Chairman Tim Lee in his recent column. He projects homeowners “will pay $86.7 million (in taxes to partially retire the bonds) during the first 10 years of the project.” He further projects that during that same time frame, Cobb’s Return on Investment will be some $132.3 million. It is, however, highly unlikely that any of that ROI will find itself going back to homeowners (more correctly, “property owners”) who paid it. It is inconceivable that increased property values or reduced millage rates, even over a 10-year period, would result in a financial benefit commensurate with the bond payments we’ll be making.
I majored in English, not Economics, so it is possible my analysis of this is incorrect. However, if this makes sense, please don’t try to sell me snake oil and tell me it’s youth restorer. I’m still happy the Braves are coming!