File #: BL2023-1741    Name:
Type: Bill (Ordinance) Status: Passed
File created: 2/24/2023 In control: Metropolitan Council
On agenda: 4/25/2023 Final action:
Title: An ordinance authorizing the Metropolitan Government's execution and delivery of an intergovernmental project agreement with The Sports Authority of The Metropolitan Government of Nashville and Davidson County relating to the development and funding of a new, enclosed stadium; designating a geographic area within which 50% of state and local option sales taxes will be allocated to fund capital projects at the stadium or any onsite or offsite infrastructure necessary for the operation thereof; approving the issuance of one or more series of public facility revenue bonds by the Sports Authority to finance a portion of the costs related to the construction of the enclosed stadium; authorizing the use and pledge of certain of the Metropolitan Government's revenues as security for the bonds; authorizing the acquisition of the stadium campus from the Sports Authority and the lease of the new stadium site to the Sports Authority; authorizing the Metropolitan Government's execution and deliver...
Sponsors: Brett Withers, Kevin Rhoten, Sharon Hurt, Russ Pulley, Tonya Hancock, Courtney Johnston, Zach Young, Bob Nash, John Rutherford, Jonathan Hall, Larry Hagar, Nancy VanReece
Attachments: 1. Exhibit A - Intergovernmental Project Agreement, 2. Exhibit B - Development and Funding Agreement, 3. Exhibit C - Stadium Lease Agreement, 4. Exhibit D - Non-Relocation Agreement, 5. Exhibit E - Team Guaranty Agreement, 6. Exhibit F - Funding Agreement-State of TN-Sports Authority, 7. Exhibit G - Sales Tax Boundary, 8. Exhibit H - Amendment 7 to Existing Stadium Lease, 9. Exhibit I - Option to Purchase Agreement-Metro Gov-Sports Authority, 10. Exhibit J - Stadium Site Ground Lease Agreement-RNDA Agreement, 11. Exhibit K - Site Coordination Agreement, 12. Amendment A to BL2023-1741, 13. Amendment A - Revised Exhibits, 14. Amendment B to BL2023-1741, 15. Amendment C to BL2023-1741, 16. Amendment D to BL2023-1741, 17. Amendment E to BL2023-1741, 18. Amendment F to BL2023-1741, 19. Amendment G to BL2023-1741, 20. Amendment H to BL2023-1741
Date Action ByActionAction DetailsMeeting DetailsVideo
5/15/2023 Mayor approved Action details Meeting details Not available
4/25/2023 Metropolitan Council previous question Action details Meeting details Video Video
4/25/2023 Metropolitan Council previous question Action details Meeting details Video Video
4/25/2023 Metropolitan Council previous question Action details Meeting details Video Video
4/25/2023 Metropolitan Council passed on third reading as amended Action details Meeting details Video Video
4/25/2023 Metropolitan Council approved Action details Meeting details Video Video
4/18/2023 Metropolitan Council amendment failed Action details Meeting details Video Video
4/18/2023 Metropolitan Council amendment failed Action details Meeting details Video Video
4/18/2023 Metropolitan Council previous question Action details Meeting details Video Video
4/18/2023 Metropolitan Council amendment failed Action details Meeting details Video Video
4/18/2023 Metropolitan Council amendment failed Action details Meeting details Video Video
4/18/2023 Metropolitan Council amended Action details Meeting details Video Video
4/18/2023 Metropolitan Council amendment failed Action details Meeting details Video Video
4/18/2023 Metropolitan Council amendment failed Action details Meeting details Video Video
4/18/2023 Metropolitan Council amended Action details Meeting details Video Video
4/18/2023 Metropolitan Council amended Action details Meeting details Video Video
4/18/2023 Metropolitan Council tabled Action details Meeting details Video Video
4/18/2023 Metropolitan Council amendment failed Action details Meeting details Video Video
4/18/2023 Metropolitan Council amendment failed Action details Meeting details Video Video
4/18/2023 Metropolitan Council amendment failed Action details Meeting details Video Video
4/18/2023 Metropolitan Council amended Action details Meeting details Video Video
4/18/2023 Metropolitan Council previous question Action details Meeting details Video Video
4/18/2023 Metropolitan Council amended Action details Meeting details Video Video
4/18/2023 Metropolitan Council amended Action details Meeting details Video Video
4/18/2023 Metropolitan Council deferred Action details Meeting details Video Video
4/18/2023 Metropolitan Council passed on second reading as amended Action details Meeting details Video Video
4/18/2023 Metropolitan Council public hearing Action details Meeting details Video Video
4/4/2023 Metropolitan Council deferred Action details Meeting details Video Video
4/4/2023 Metropolitan Council amended Action details Meeting details Not available
4/4/2023 Transportation and Infrastructure Committee approved with amendments Action details Meeting details Not available
4/4/2023 Public Facilities, Arts, and Culture Committee approved with amendments Action details Meeting details Not available
4/4/2023 Metropolitan Council   Action details Meeting details Video Video
4/3/2023 Budget and Finance Committee approved with amendments Action details Meeting details Not available
3/7/2023 Metropolitan Council deferred Action details Meeting details Not available
3/7/2023 Metropolitan Council passed on first reading Action details Meeting details Not available
2/28/2023 Metropolitan Council filed Action details Meeting details Not available
title
An ordinance authorizing the Metropolitan Government's execution and delivery of an intergovernmental project agreement with The Sports Authority of The Metropolitan Government of Nashville and Davidson County relating to the development and funding of a new, enclosed stadium; designating a geographic area within which 50% of state and local option sales taxes will be allocated to fund capital projects at the stadium or any onsite or offsite infrastructure necessary for the operation thereof; approving the issuance of one or more series of public facility revenue bonds by the Sports Authority to finance a portion of the costs related to the construction of the enclosed stadium; authorizing the use and pledge of certain of the Metropolitan Government's revenues as security for the bonds; authorizing the acquisition of the stadium campus from the Sports Authority and the lease of the new stadium site to the Sports Authority; authorizing the Metropolitan Government's execution and delivery of a site coordination agreement relating to the interaction between the operations of the stadium and the development within certain areas around the stadium; and authorizing the defeasance of a portion of the Metropolitan Government's general obligation bonds issued to fund the acquisition of the campus on which the stadium is located.
body
WHEREAS, The Sports Authority of The Metropolitan Government of Nashville and Davidson County (the "Authority") has been formed pursuant to Title 7, Chapter 67, Tennessee Code Annotated (the "Act"), by The Metropolitan Government of Nashville and Davidson County (the "Metropolitan Government") for the purposes set forth in the Act; and
WHEREAS, the Authority owns approximately 95 acres of land on the east bank of the Cumberland River in Nashville, Tennessee (as more particularly described in the hereinafter defined Intergovernmental Agreement attached as Exhibit A hereto, the "Campus"), on which is located a multi-purpose outdoor stadi...

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