Early Wednesday morning, the Metro Council voted to defer consideration of a plan to help the Tennessee Titans build a domed stadium on the East Bank for one meeting.
The decision followed hours of Tuesday night debate by the council.
The Metro Council will now consider the proposal on its second of three required readings at its April 18 meeting. The body could hold a special meeting later in April to vote on the deal for a third time, as some officials noted certain types of legislation cannot be considered once the council begins working on a budget in May.
Several councilmembers sought to amend the legislation. One, a “housekeeping” amendment, passed unanimously, according to Scene contributor Nicole Williams. Another, sponsored by Metro Councilmember Brandon Taylor, seeks to add fees for certain events at the future stadium in an effort to send revenues to the city’s general fund. It passed by a single vote.
An effort to hold a public hearing on the plan secured 25-13 support — one vote shy of the supermajority needed to call one, according to Williams.
The $2.1 billion proposal’s financing structure as proposed includes $500 million in bonds from the state, $840 million from the Titans and the NFL and $760 million funded by Metro debt and repaid through an increase to the city’s hotel tax and sales tax redirects from the stadium and the surrounding campus.
