"Clerical error" increases Titans stadium project estimate
Three days after Mayor John Cooper's administration filed the capital improvement budget showing a new Titans stadium project would cost $2 billion, officials told Metro Council the actual dollar figure was $2.2 billion.
- Metro Council members were alerted to the clerical error during Monday's budget and finance committee meeting.
Why it matters: The capital improvement budget is a spending wish list. If the cost of a project exceeds what is budgeted, it must be amended.
- It would take 27 council votes to pass such an amendment — a high bar to clear.
Yes, but: Metro Councilmember Bob Mendes tells Axios he believes the newly filed CIB needs to be amended regardless.
- Mendes takes issue with the description of how a new covered Titans stadium would be funded.
- The document says the stadium will be partially paid for with user-generated sales tax revenue, which Mendes contends is an incomplete description. But the actual amount of sales tax that would be used to pay for the stadium is substantially more than that, he says.
What he's saying: "It's not just people buying Cokes and hotdogs at the stadium," Mendes says. "It's sales tax collections from the massive [approximately 130-acre] development around the stadium."
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