It appears the proposed $2.1 billion Tennesse Titans stadium is reaching one of its final hurdles.
Tuesday, Nashville’s council will make its vote on approval of financial documents laying out the monetary value different parties would contribute to the project.
Via The Tennessean:
The Titans and the NFL would contribute $840 million in private financing to the new stadium’s construction. The state of Tennessee would contribute $500 million in bonds, and Nashville would shoulder $760 million in revenue bonds to be paid using diverted sales taxes from transactions in and around the new stadium. The council and state previously authorized a 1% hotel tax increase to help pay for the facility, which is expected to bring in more than $10 million annually and will go into effect if and when the finalized deal receives council approval.
If approved by the council, The Tennessean reports with the city’s and state’s combined $1.26 billion contribution, it will mark the highest public subsidy for a stadium in NFL history.
Additionally, the Titans would take responsibility for the upkeep that is not covered by tax diversions or other revenue streams.
The renderings for the stadium showed a 1.7 million-square-foot stadium that included a translucent roof. The exterior features terraces and porches with large screens and a green space that surrounds the building.
It looks to have a capacity of 60,000 fans and is a reflection of Nashville’s spirit.
It’s located close to Interstate 24 and plans to break ground as early as Fall 2023 with the hopes of completion ahead of the 2026 NFL season.
