A new domed Titans stadium will cost $2.1 billion — including $1.26 billion in tax dollars — under a plan unveiled by the team and Nashville's mayor. It would be the most public money ever committed to an NFL stadium project.
Cooper argues the proposal is the financially wise decision for the city. His administration pointed to a preliminary consultant's report showing that the current lease obligation for the 23-year-old Nissan Stadium is between $1.75 and $1.95 billion over the next 17 years.
Gov. Bill Lee and the legislature approved $500 million in state bonds earlier this year for a new domed stadium. The Titans will sign a minimum 30-year lease, and return 66 acres where Nissan Stadium sits for the city to use for the new East Bank boulevard, affordable housing and other infrastructure.
Mendes says the actual cost of the stadium project is much larger because the city is embarking on East Bank redevelopment, which will cost $700 million in infrastructure improvements, according to the most recent capital improvement budget. He says the more ambitious and expensive redevelopment plan wouldn't be happening without the stadium.
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