New Titans Stadium (60,000 capacity dome, ground level retail, directly east of Nissan Stadium)

[samsonh]

1 hour ago, nashvylle said:

This situation is different from the sound stadium. 

Metro issued bonds for the sounds stadium construction and site acquisition, with bond interest paid back solely from NEW real estate taxes from new development built by the sounds management. No money was available day 1 of bond issuance, and the sounds had no clock to commence development, which was delayed for years. 

The new titans stadium relies on 1% hotel tax collected once approved by council, existing metro and state in-stadium sales tax at Nissan stadium, existing ticket taxes at Nissan stadium, existing pilot taxes (which will be phased out in 2032), plus in the future- team rent at new stadium and future sales tax from development you mentioned. 

On day 1 of issuing bonds, there will be approximately $40mm per year collected for interest payments, and this grows each year as more hotels are built(The 1% hotel tax can only be implemented for a new stadium, FYI). 

The 1% hotel tax and in stadium ticket and sales taxes plus titans will cover the interest for metro’s debt, with funds being collected and ready day 1 of bond issuance. 

The stadium village was going to happen whether we did a new stadium or renovation, and I think is more for “activation of the stadium” than necessity or metro protection. The sales tax from surrounding development will add to collections for interest for sure, but metro could delay the stadium village and we still have sufficient collections. 

whatever the infrastructure costs to metro outside of the stadium will be less than the 50% sales tax + 100% real estate tax collections. 
 

as part of the new deal, the titans are also waiving $27mm in Nissan stadium repairs paid by titans and owed by metro and $30mm in remaining G.O. Debt on the existing stadium. 

Yes I think and hope this is all true. The only doubt I have is whether the maintenance and future capex costs are being properly accounted for. I would hate to get 15-20 years down the road and have unexpected and unfounded 50+ million dollar liabilities.

[FromParkAveToTN]

Can the city use Enema Domain to take the scrap metal property and put the new stadium on that site?

[smeagolsfree]

I think there is another difference here as well and that being that there will be a master developer in charge of the land around the Titans stadium whereas there never was one around the Sounds stadium. The way I understand it is that the master developer would be in charge of the basic recruiting of and developing the spaces available. They would not be the ones doing the financing and construction as that would be up to each individual project developer.

[henburg]

The Titans should just play in the scrapyard as is, it's what we deserve after the last 3 weeks

[nashvylle]

On 12/11/2022 at 7:58 AM, smeagolsfree said:

I think there is another difference here as well and that being that there will be a master developer in charge of the land around the Titans stadium whereas there never was one around the Sounds stadium. The way I understand it is that the master developer would be in charge of the basic recruiting of and developing the spaces available. They would not be the ones doing the financing and construction as that would be up to each individual project developer.

Correct, although I believe that will just be for the parking lots the sports authority owns, and I am not sure if that will include the stadium village + 66 acres metro has reclaimed + private development, or just private development (like Market Street is Master Developer of The Gulch). 

[lmc123]

https://www.tennessean.com/story/news/local/2022/12/15/tennessee-titans-stadium-plan-nfl-owners-approve-loan/69732198007/

League owners approve Titans stadium deal and pitch in $200M to be repaid with PSL's. 

[nightranger36]

I still think it's a risk to go this small capacity wise. It's a gamble to me, because  this is what we will have for several decades to come. I really don't want to spend this kind of money and have the smallest stadium in the nfl. Hopefully it won't bite us down the road with other events. I imagine ticket prices will just be raised to offset any difference. At this size, the seats better be nice and wide with  great leg room. I can dream, can't I ?

 

[PaulChinetti]

Besides the playoff game last year. I haven't been to a game that's been full in years. It makes sense, it' just wasted space. 

[nashvylle]

1 hour ago, nightranger36 said:

I still think it's a risk to go this small capacity wise. It's a gamble to me, because  this is what we will have for several decades to come. I really don't want to spend this kind of money and have the smallest stadium in the nfl. Hopefully it won't bite us down the road with other events. I imagine ticket prices will just be raised to offset any difference. At this size, the seats better be nice and wide with  great leg room. I can dream, can't I ?

 

I read somewhere that the architect has allowed for capacity to be expanded, either permanently if decided or for specific events. 

[Melrose]

On 12/16/2022 at 11:37 AM, nashvylle said:

I read somewhere that the architect has allowed for capacity to be expanded, either permanently if decided or for specific events. 

Where was this reported and how would that be done?

[PaulChinetti]

I vaguely reading that but can’t find it. Maybe it was an interview with the current titans lfesident? 

From my understanding though, it’s not designed yet just some initial ideas and renders. 

[nashvylle]

13 hours ago, Melrose said:

Where was this reported and how would that be done?

I'll try and find it. I do believe it was in an interview. 

[WebberThomas4]

https://mailchi.mp/emilyfor7/give-nashville-naming-rights

interesting idea

 

[henburg]

 

 

[WebberThomas4]

Some screenshots I grabbed:

 

 

[samsonh]

5 hours ago, WebberThomas4 said:

Some screenshots I grabbed:

 

 

One thing I’ve realized from following this whole thing is the financial illiteracy of most of metro council. Also the inability of council to get straight answers on substantial costs, such as the infrastructure. This whole thing feels very rushed.

[Kv615]

Forgive me if this has been mentioned but where do things stand currently? Is there another vote set to be coming up? 

[PaulChinetti]

I'm not sure the council has meet in the new year yet. 

I think it's still on first reading if anything.

[markhollin]

Final documents for a $2.1 billion Tennessee Titans stadium will be presented to the Metro Sports Authority in the next 30 to 60 days. That's according to Sam Wilcox, Metro's deputy mayor for policy and innovation, who presented at the Jan. 19 Sports Authority meeting.

Wilcox said the hope is for the Sports Authority to act on those documents in that 30-to-60-day time frame as well. Votes from the Sports Authority and Metro Council are necessary to approve final documents.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2023/01/20/next-step-emerges-in-tennessee-titans-stadium-deal.html

 

[Rick Dalton]

The house that Ran Carthon built 

[FromParkAveToTN]

On 12/20/2022 at 11:06 PM, WebberThomas4 said:

Some screenshots I grabbed:

 

 

Ugh!!! Can't the Titans just move to another city? That'll be the least expensive option.  I'm like, go away. 

Edited January 22, 2023 by FromParkAveToTN

[smeagolsfree]

7 hours ago, FromParkAveToTN said:

Ugh!!! Can't the Titans just move to another city? They'll be the least expensive option.  I'm like, go away. 

It would be less costly if you could move. We could all probably just chip in for postage an apartment rental book for you. As always you know we jest and love messing with you.

[MidTenn1]

8 hours ago, FromParkAveToTN said:

Ugh!!! Can't the Titans just move to another city? They'll be the least expensive option.  I'm like, go away. 

Yes, I know you jest, and I enjoy your posts also, but, if the NFL team actually left and we converted Nissan Stadium into a nice baseball stadium, we'd have a team to occupy it within a week. We would have to modify it significantly, but at a lot, lot, lot less cost than any of the NFL stadium proposals. 

And yes, I said 'we' even though I am not a 'citizen' of Nashville. I am a citizen of Tennessee which has $500,000,000 input into these projects, so I have skin ($200+/- worth) in this game.

[Rick Dalton]

Baseball is dead 

[markhollin]

On 1/21/2023 at 10:36 AM, natethegreat said:

Baseball is dead 

Hmmmm...MLB drew 54.2 million in attendance last regular season.  That's  more than the NFL, NBA, NASCAR, and MLS  combined.