Compromise on the table for Nashville council's next stadium vote
The final vote on a $2.1 billion NFL stadium proposal is expected to come from Metro Council on April 25, following a last-minute delay to dispute the extent of the deal's community benefits.
Metro Sports Authority approved the deal on April 4.
Next week, Council member Jennifer Gamble will present a compromise negotiated between Tennessee Titans and tourism officials. It’s an alternative to Council member Brandon Taylor’s proposed upcharge on special events at the future stadium for countywide improvements.
Tourism leaders said Taylor’s amendment would prevent desired events from coming to town because it includes a fee that would increase over time to 10% of the price of each ticket.
Instead, Gamble's amendment would lock in the 3% rate and exempt programs like CMA Fest, Music City Bowl, and high-school and college games.
She called the amendment an "optimal compromise" that she will present at Monday's budget and finance committee ahead of the second stadium vote scheduled on Tuesday. It will take three votes for the deal to pass.
The proposal "locks the fee in at that 3% rate and excludes additional rent applied to some non-NFL events,” said Gamble, whose District 3 includes Whites Creek north of Bordeaux. “I’m excited about having more funding for transit. My district is very interested in getting better transit.”
The fee would be paid by event promoters, who would likely pass it on to ticket buyers.
The new stadium and surrounding East Bank development could bring in at least $1 billion in tax revenue to Nashville's general fund over the next few decades. Gamble's amendment would capture up to $10 million per year for the planned Nashville Needs Impact Fund - a pot that also includes up to $1 million per year from the Titans.
Roadway infrastructure, high-speed rail and bus transportation, and affordable-housing incentives are expected to be top priorities for the new Davidson County funds. Metro Planning officials are actively planning extensive new street expansions, more sidewalks and other key needs.
“After hearing from the public who felt like we need to do more to specifically address the needs of the community, I feel good about this,” Gamble said. “I feel this is the optimal compromise because we’re not only benefiting from investment in purchasing and keeping this land, we’re benefiting from revenue from the fund we’re designating.”
Sandy Mazza can be reached via email at smazza@tennessean.com, by calling 615-726-5962, or on Twitter @SandyMazza.
This article originally appeared on Nashville Tennessean: Titans stadium: Compromise proposed for next Nashville council vote
