Legal Experts: Plans to Fund the proposed Braves Stadium are Well Grounded

timlee2Cobb County commission Chairman Tim Lee confirmed with legal experts this week that plans to fund the proposed Braves Stadium are well grounded.

“We have a top notch group of experts working together on this effort and I am confident that their guidance is right on target,” said Cobb Commission Chair Tim Lee. “With experienced counsel representing both the county and the exhibit hall authority, as well as the county’s own legal team, we are moving forward using a well-established funding process.”

Cobb County Attorney Deborah Dance released the following statement Sunday in response to rumors to the contrary. “The County has been working closely with a team of attorneys that includes those specializing in the issuance of bonds and economic development projects. I have every confidence that the current plan for the issuance of revenue bonds by the Coliseum Authority and the execution of an intergovernmental agreement between the County and the Authority is a legal, permissible and appropriate way to address funding for the new stadium project. Statements to the contrary appear to be due to a lack of understanding of the structure of the transaction and the law, which has been established by the Georgia Supreme Court for decades. Many major development projects throughout the State, including Cobb’s own Performing Arts Center, have successfully utilized just such a transaction structure over a number of years.”

Commissioners will be holding several Town Hall meetings on Monday to answer questions from the public about the proposed stadium project. Commissioner JoAnn Birrell Town Hall Meeting will be held at Mountain View Library, Marietta; from 4:30 PM-6:00 pm. Commissioner Bob Ott’s Town Hall Meeting will be held at 2nd Floor BOC Room, 100 Cherokee Street Marietta; from 7:00 PM-8:30 pm. Commissioner Lisa Cupid’s Town Hall Meeting will be held at the South Cobb Community Center 620 Lions Club Dr Sw, Mableton; from 7:00 PM – 8:30 PM.

A full list of meetings and project details can be found at www.cobbcounty.org

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