NASHVILLE, Tenn. (WKRN) – Nashville tourists could be responsible for funding part of a new Titans stadium. Lawmakers are proposing a plan that would allow Davidson County to raise the hotel tax to generate revenue for a new indoor stadium. It’s just one piece of the puzzle for securing a state-of-the-art, multi-billion dollar stadium.
The state commits $500 million in bonds and the Tennessee Titans are prepared to provide $750 million.
And now there’s another funding option state lawmakers are putting on the table. “One piece of the pie is the hotel and motel sales tax, up to 1%,” Rep. Bill Beck (D-Nashville) said.
That would mean tourists could fund $10-20 million a year for the stadium.
“These are people who aren’t from Tennessee paying for a hard infrastructure project here in Tennessee,” House GOP leader Rep. William Lamberth said.
Currently, Nashville’s hotel tax is 6% but could be increased by residents 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, it will prosper everyone, so we’re very excited,” Beck said.
But with all the possible funding available on the table, it’s still far from the $2 billion goal, which means the city of Nashville could be responsible for millions more.
“We need to be transparent and upfront about how this deal is going to work, who’s going to benefit from it, who’s going to pay what, and I think that’s going to be critical as we move 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.
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