by Jon Styf
In a new poll, 61% of likely voters in Tennessee oppose the state giving $500 million toward a new Tennessee Titans stadium.
The poll, conducted by Targoz Market Research for the nonprofit policy group the Beacon Center of Tennessee, showed that 69% of those polled in East Tennessee disapproved of the move while 57% in Middle Tennessee disapproved and 55% in West Tennessee disapproved.
The poll also offered a “not sure” option. That meant that just 20% across the state approved of the move, with 22% in Middle Tennessee approving and 18% in both West Tennessee and East Tennessee.
The $500 million is only a portion of the state funds that will go toward the proposed $2.2 billion new stadium. The state also has committed to giving away a 5.5% sales tax at the stadium and 2.75% sales tax in 130 acres of the future development outside the stadium while also approving a 1 percentage point increase in a hotel-motel tax in Davidson County.
Economist J.C. Bradbury of Kennesaw State University in Georgia has explained that sales tax dollars from new developments are similar to general fund tax dollars because new developments prove to displace spending from other areas of a city or county, not create new spending.
“It’s a misnomer to say that it’s not raising taxes on locals because what you’re doing is transferring commerce that was already taking place in Nashville that was generating sales tax revenue for the city and state and then diverting that to the Titans,” Bradbury said. “So that’s revenue that was previously going to funding other priorities for government that now has to be made up through other means.”
Metro Nashville and the Titans are expected to give an update on the proposal at a 5:30 p.m. meeting on Sept. 14.
The Titans are expected to pay $700 million of the new stadium, which could include an NFL loan and revenue from seat licenses depending on how that program changes.
Nashville plans to pay the revenue bonds with Nashville’s portion of taxes for sales at the stadium and half of the taxes from sales on 130 acres.
Nashville has hired Venue Solutions Group for at least $250,000 to study the city’s legal obligations at Nissan Stadium after the group estimated in 2017 that the stadium would require $293.2 million in capital improvements over 20 years.
Titans CEO Burke Nihill estimated that city obligation to be $1.839 billion.
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Jon Styf is an award-winning editor and reporter who has worked in Illinois, Texas, Wisconsin, Florida and Michigan in local newsrooms over the past 20 years, working for Shaw Media, Hearst and several other companies. Styf is a reporter for The Center Square.Â
I’m also against funding this stadium. Use that money instead for city infrastructure improvements like more sidewalks, bikeways, more city bus service, more commuter train service, and more parks.
Lowering taxes?
Every republican that votes for this scam needs to be voted out! How dare they come after even more money from us after ramming a 37% increase in property taxes! You can’t get blood from a turnip! What will they do when people start moving out of Davidson Co. to get away from the ridiculously high taxes? Decisions have consequences…do they even think that far?
The Titan stan
$500.00 million
Oh No there won’t be any WASTE FRAUD & ABUSE
How many Illegal aliens w.be hired
How much w.be kicked back to politicians
Is there going to be any transparency in accounting
How many lunches & dinners are there going to be
Football the most expensive dieing industry.
Tennessee Republican leaders have been repeatedly warned about this issue–they have been warned as plainly as the people can speak. When political leaders ignore the plainly expressed wishes of the people, well, that’s how legislative majorities are lost! (And the curious thing for me about all of this is the fact that Republican leaders are doing this for Democrats who really could not care less about these Republican leaders’ political success.)
Taxpayer funds should not be used to fund private projects. State sales tax revenues belong to taxpayers, not diverted to private enterprise. As usual Governor and legislators are over stepping their boundaries. Sport teams should pay for what is needed to stay in business. If they can not operate at a profit then close down. Please stay out of my pocket.
” The Titans are expected to pay $700 million of the new stadium..”
Well then – “the stadium would require $293.2 million in capital improvements over 20 years.. ” So let the Titans owners pay for that !!
If they want a new dome, then they need to buy it, just like Mike stated above
Smells like the Randy Boyd scheme in Knoxville. Biden’s glowing economy has resulted in significant cost increases. Boyd originally agreed to pay for any cost increases and has now decided that he will loan the Taxpayers 20 Million dollars to try and get this dead horse over the finish line. No one has any interest in letting the public decide this issue. Open your wallet and keep your mouth shut.