(The Center Square) — A sales tax fund set to pay for Nashville revenue bonds on a proposed new $2.1 billion Tennessee Titans stadium is expected to collect $2.9 billion through 2056, according to projections from Metro Nashville.
The total does not include $500 million that the state of Tennessee has committed to the project and will bond separately.
The tax projections were posted to a question and answer document for Metro's East Bank Stadium Committee. The tax fund includes a new 1% hotel tax in Davidson County, both state and local sales taxes from purchases at the stadium, a $3 ticket tax for all stadium events and a 50% sales tax for a potential future development on 130 acres surrounding a stadium.
The tax fund is scheduled to be used to pay off $760 million in revenue bonds from the Metro Nashville Sports Authority and then will be used toward a capital improvements fund for future work at the stadium and surrounding development.
