by Jon Styf
In a new poll, 61% of likely voters in Tennessee oppose the state giving $500 million toward a new Tennessee Titans stadium.
The poll, conducted by Targoz Market Research for the nonprofit policy group the Beacon Center of Tennessee, showed that 69% of those polled in East Tennessee disapproved of the move while 57% in Middle Tennessee disapproved and 55% in West Tennessee disapproved.
The poll also offered a “not sure” option. That meant that just 20% across the state approved of the move, with 22% in Middle Tennessee approving and 18% in both West Tennessee and East Tennessee.
The $500 million is only a portion of the state funds that will go toward the proposed $2.2 billion new stadium. The state also has committed to giving away a 5.5% sales tax at the stadium and 2.75% sales tax in 130 acres of the future development outside the stadium while also approving a 1 percentage point increase in a hotel-motel tax in Davidson County.
Economist J.C. Bradbury of Kennesaw State University in Georgia has explained that sales tax dollars from new developments are similar to general fund tax dollars because new developments prove to displace spending from other areas of a city or county, not create new spending.
“It’s a misnomer to say that it’s not raising taxes on locals because what you’re doing is transferring commerce that was already taking place in Nashville that was generating sales tax revenue for the city and state and then diverting that to the Titans,” Bradbury said. “So that’s revenue that was previously going to funding other priorities for government that now has to be made up through other means.”
Metro Nashville and the Titans are expected to give an update on the proposal at a 5:30 p.m. meeting on Sept. 14.
The Titans are expected to pay $700 million of the new stadium, which could include an NFL loan and revenue from seat licenses depending on how that program changes.
Nashville plans to pay the revenue bonds with Nashville’s portion of taxes for sales at the stadium and half of the taxes from sales on 130 acres.
Nashville has hired Venue Solutions Group for at least $250,000 to study the city’s legal obligations at Nissan Stadium after the group estimated in 2017 that the stadium would require $293.2 million in capital improvements over 20 years.
Titans CEO Burke Nihill estimated that city obligation to be $1.839 billion.
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Jon Styf is an award-winning editor and reporter who has worked in Illinois, Texas, Wisconsin, Florida and Michigan in local newsrooms over the past 20 years, working for Shaw Media, Hearst and several other companies. Styf is a reporter for The Center Square.Â
