New financing approach for the football stadium

sharon injured

I read the mayor’s letter to the city with great interest and appreciate his transparency and openness on this complicated but nonetheless critically important project. When the mayor says “doing nothing is not an option”, that is frankly an understatement. Doing nothing would likely require a large property tax increase, as we (the city and its taxpayers) would contractually foot the entire bill for the current stadium for the next 17 years. No matter what one’s policy or philosophy on public funding of sports facilities is, we have to do something (and do it now) to avoid this horrible outcome.

I also understood not only the financial “irresponsibility” of renovating the current stadium as the mayor mentions, but also the important “plus” of a new closed stadium. I noted with interest and pride that my fellow Nashvillians who serve in the state legislature voted unanimously to invest $500 million in state revenue in such a facility.

Finally, I want to quote Mayor Cooper’s final community pledge in full: “Metro will work with the Titans to ensure well-paying jobs, meaningful participation by minority entrepreneurs, parks and green spaces, affordable housing, and a welcoming environment for Nashville residents that integrates the stadium into the community vision of the surrounding neighborhood.

I and several other Council members for whom the attributes of any new stadium campus are critical have discussed these issues with the Mayor and the Titans. I believe the extensive, multi-partner community benefits platform that the Titans have developed with their nonprofit partners (which will soon be introduced to the community) represents a wonderful continuation of the 20-year commitment of Titan and the Adams family. not just Tennessee and Nashville, but to those neighborhoods and citizens for whom the economic boom of the past few years has passed.

As a member of the At-Large-Council, I have not always agreed with Mayor Cooper and his priorities. Frankly, that shouldn’t change. But while this project will of course require a great deal of scrutiny and explanation, I am first and foremost a Nashvillian and so I say “Amen” when an amen is earned. I applaud the mayor for his work and that of his administration thus far and wholeheartedly support his “commitments” to the city.

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