Tag: Emily Benedict

Metro Council Defers Stadium Term Sheet and East Bank Development to Future Meetings

Laura Baigert

The resolution to approve the term sheet, which gives an overview of the terms and conditions of the agreements and transactions for the financing, construction and operation of a new domed stadium adjacent to the existing Nissan Stadium which will then be demolished, was deferred for two meetings. Both the Budget and Finance Committee and the Public Facilities, Arts and Culture Committees had previously voted to defer for two meetings.

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VSG Report Released That Claims to Substantiate Estimate of $2.1 Billion to Renovate Nissan Stadium

Laura Baigert

The much-anticipated report from VSG (Venue Solutions Group), which claims to substantiate the estimated $2.1 billion in projected costs to renovate Nissan Stadium was released Tuesday.

The previous estimates for an upgrade to the stadium to the “first-class condition” required in the 1996 stadium lease agreement at costs ranging between $1.75 to $1.95 billion is what is driving the argument for a new stadium.

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Nashville Council Members Push Back Against Mayor’s Closed-Door $2.1B Stadium Deal

The Center Square

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.

The deal includes a $500 million payment from the state of Tennessee, $760 million in bonds from the city’s sports authority and an undetermined amount of future tax dollars that will go toward stadium maintenance, upkeep and East Bank infrastructure. The mayor’s office hired private consultants, New York-based Inner Circle Sports, to help broker its deal.

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