Tennessee Conservative
The Metro Nashville Mayor’s Office Is Completing What It Is Calling The Definitive Documents For A New Deal On A $2.2 Billion Tennessee Titans Stadium And Plan To Present The Final Documents To Metro’s Council By March.
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In Many Of The Cases, Rather Than Using Direct Funding Methods From City Or State Coffers, Tennessee Has Now Opted To Have A Portion Of Funding For The Bonds On Building Stadiums To Come From Sales Tax Zones. Those Funds Are Often Termed By Those Proposing Deals As User Fees. But Economists Say That Doesn’t Show The Full Impact.
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A Tax Fund Scheduled To Pay Off Revenue Bonds From Nashville Toward A New $2.1 Billion Tennessee Titans Stadium And Available For Future Maintenance Costs Is Estimated To Generate Up To $70 Million Annually During The Titans’ New 30-Year Proposed Lease, Which Includes Three Additional Five-Year Team Options To Extend.
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Nashville’s Metro Council Hoped For A Study To Evaluate The Definition Of “First Class” In Its Current Lease Agreement With The Tennessee Titans. For $315,000, The City Paid For A Study On The Matter And Instead Received An Evaluation Of The Titans-Led Renovation Plans.
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After Announcing A Deal To Build A New Titans Stadium That Will Cost At Least $2.1 Billion, The Next Step For Metro Nashville In The Approval Process Will Be To Present The Deal To The City’s East Bank Stadium Committee At 4:30 P.M. On Oct. 26.
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