Tennessee Conservative
A Central Point Of The Push For A New $2.1 Billion Domed Tennessee Titans Stadium Has Been The Ability To Host Year-Round Events At The New Facility But Available Events That Could Fill The 60,000 Seat Stadium May Be Lacking.
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A Sales Tax Fund Set To Pay For Nashville Revenue Bonds On A Proposed New $2.1 Billion Tennessee Titans Stadium Is Expected To Collect $2.9 Billion Through 2056, According To Projections From Metro Nashville.
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The Nashville Mayor’s Office Paid Inner Circle Sports $120,000 Over A Six-Month Period For Consulting Services Related To Negotiating The $2.1 Billion Stadium Deal Between The Office And The Tennessee Titans.
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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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A Facility Report Commissioned By Nashville To Look At The City’s Obligations For A Renovation Of Nissan Stadium Did Not Actually Analyze Those Obligations.
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Opposition To A Deal For The Public Portion Of Financing Of A New $2.1 Billion Tennessee Titans Stadium Is Building Amongst Nashville Council Members Since The Deal Was First Announced At A Press Conference By The Mayor’s Office And Then A Non-Binding Term Sheet Was Presented To The City’s Sports Authority And East Bank Stadium Committee.
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Metro Nashville Hopes To Have Its Deal With The Tennessee Titans For A New $2.1 Billion Stadium Approved By March With The Funding In Place And Revenue Bonds Issued For $760 Million From Its Sports Authority By The Middle Of 2023.
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Members Of The Metro Nashville City Council Will Be Asked To Approve A Term Sheet And Legislation To Enact A 1% Hotel-Motel Tax Starting Feb. 1 With Its Initial Consideration Of Both To Begin At The Board’s Nov. 1 Meeting.
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