Officials pursuing resort tax enhance to fund it

Point out and area officials are pursuing a third important funding stream to support address the enormous bill for Nashville’s proposed new expert football stadium.

Rep. Monthly bill Beck, D-Nashville, submitted an amendment to a monthly bill in the House finance subcommittee Wednesday opening the door for the Metro Council to look at raising the city’s hotel-motel tax to set more revenue toward a new Tennessee Titans stadium.

The latest Nashville lodge-motel tax is 6% and the monthly bill would allow for regional officers to increase the tax up to 7%. A 1% increase is possible to produce $10 million in more profits, in accordance the Tennessee Basic Assembly Fiscal Evaluation Committee.

But Nashville Conference and Visitors Corp. CEO Butch Spyridon claimed the quantity will very likely be closer to $20 million per yr.