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Posted: November 14, 2013 11:12 a.m.

$300M in public funds for Braves stadium

ATLANTA (AP) — Cobb County officials have released key details for the public financing of a new $672 million Atlanta Braves stadium, saying they'll use a mix of existing taxes as well as new taxes on business and tourism.

Cobb County officials posted an outline of the financing on its website Thursday morning, showing the public will be responsible for roughly 45 percent, or $300 million.

The Braves will be contributing 55 percent, or $372 million.

The new taxes will be levied on businesses in the immediate area, as well as on rental cars and nightly lodging. Cobb County also plans to reallocate $8.67 million in existing property tax revenue.

The Cobb County Board of Commissioners is set to consider the plan Nov. 26.

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