Bristol announces benefits agreement for potential Nashville speedway improvements

Molly Davis, Nashville Tennessean
·2 min read

Bristol Motor Speedway and the Urban League of Middle Tennessee have signed a community benefits agreement in support of a deal for Bristol to lease and operate the Nashville Fairgrounds Speedway, according to a news release.

The two entities are advocating for support of the deal, which hasn't been scheduled to go in front of Metro Council for a vote. The benefits agreement is legally binding for a five-year period beginning after revenue bonds are issued for the project by Metro Sports Authority. It is subject to automatic renewal for additional five-year periods not to exceed a total of 30 years.

According to the signed document, either party has the power to terminate the deal at each renewal window.

The signed agreement includes a minimum pay of $18.50 per hour for future local Bristol speedway employees with preference to Davidson County minority business enterprises and diverse business enterprises. The outlined goal will be 30% for such businesses for construction, supply and post-construction of the Nashville Fairgrounds Speedway.

“The Urban League of Middle Tennessee is eager to begin working with Bristol Motor Speedway to ensure the entire community is represented as restoration begins at the historic Fairgrounds Speedway,” said Urban League president and CEO Clifton Harris.

According to the release, Bristol Motor Speedway is also entering partnerships with the following organizations:

  • Glencliff High School and Fall Hamilton Elementary School to invest resources into student success.

  • Conexión Américas and its Casa Azafrán facility to support the Latino community around the speedway.

  • Operation Stand Down Tennessee to support military veterans and their families.

  • The Boys and Girls Clubs of Middle Tennessee to provide educational access and activities for program participants.

A rendering shows the historic Nashville Fairgrounds Speedway after renovations proposed by Bristol Motor Speedway.
A rendering shows the historic Nashville Fairgrounds Speedway after renovations proposed by Bristol Motor Speedway.

“The Urban League of Middle Tennessee has been critical to the economic empowerment, equality and social justice for African Americans and other underserved communities in the Nashville area,” said Bristol Motor Speedway President Jerry Caldwell. “We are thrilled to be working with Clifton and his team for years to come.”

Enforcement of the terms will fall to a six-person committee comprised of Bristol Motor Speedway and Urban League representatives. The committee will also include residents from neighborhoods adjacent to the project.

Harris likened the possibility of speedway improvements to projects already completed at the Fairgrounds, including the flea market, expo center and GEODIS Park.

“This project represents opportunities for our local workforce to contribute to this major project in our city," Harris said.

Notably, the first community benefits agreement used in Nashville was that between the Nashville Soccer Club ownership group and Stand Up Nashville ahead of the approval of the GEODIS Park construction plan in 2018.

Urban League also recently brokered an agreement with a real estate developer that had previously failed to reach an agreement with Stand Up. The East Nashville apartment redevelopment plan was ultimately approved by Metro Council.

Fairgrounds Speedway CBA Urban League Bristol 2023 by USA TODAY Network on Scribd

This article originally appeared on Nashville Tennessean: Bristol, Urban League sign benefits agreement for Nashville speedway