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County commissioners approve $672M Braves stadium deal

The Canadian Press

11/26/2013 11:12:02 PM

MARIETTA, Ga. -- Officials have approved a deal to build a new $672 million stadium for the Atlanta Braves away from the downtown Atlanta area that has traditionally been its home.

The Cobb County commissioners voted 4-1 Tuesday night to enter into a memorandum of understanding with the baseball team. Braves officials stunned local leaders earlier this month when they announced they would abandon an area just south of downtown Atlanta that has been their home since the team moved from Milwaukee in 1966.

The 30-year deal calls for hundreds of millions of dollars in public money to help pay for the stadium and entertainment complex. Officials plan to fund it with a mix of reallocated existing property tax revenue and new taxes on business and tourism in the area.