NASHVILLE, Tenn. (WKRN) – Nashville tourists could be on the hook for funding part of a new Titans stadium. Lawmakers are putting forth a plan that would allow Davidson County to increase the hotel tax to generate revenue for a new covered stadium. It’s just one piece of the puzzle to securing a multi-billion dollar state-of-the-art stadium.
The state is committing $500 million in bonds and the Tennessee Titans are willing to provide $750 million.
And now there’s another funding option state lawmakers are placing on the table. “One of the pieces of the pie is the sales tax for the hotel and motels, up to 1%,” said Rep. Bill Beck (D-Nashville).
That would mean tourists could fund $10 to $20 million a year for the stadium.
“That’s folks that are not from Tennessee paying for a hard infrastructure project here in Tennessee,” said House GOP leader, Rep. William Lamberth.
Currently, Nashville’s hotel tax is 6% but could be raised by locals to 7% if the stadium is a dome or has a retractable roof and seats 50,000 people.
“Hopefully, the SEC championship, the Final Four, WWE week, so many huge events, this will prosper everyone so we’re very excited,” Beck said.
But with all of the possible available funding on the table, it’s still short of the goal of $2 billion, which means the city of Nashville could be responsible for millions of additional dollars.
“We gotta be transparent and upfront about how this deal is going to work, who’s going to benefit, who’s going to pay what, and I think that’s going to be critical as we go forward,” said Sen. Jeff Yarbro (D-Nashville).
The Nashville City Council would be responsible for raising the hotel-motel tax and approving any additional funding for a new stadium.