Convention Center Authority OKs $300K flood-related loan

Thursday, October 7, 2010 at 12:33pm

Metro’s Convention Center Authority on Thursday approved giving the Nashville Convention & Visitors Bureau a $300,000 loan to cover funds the agency spent to keep conventioneers in Nashville following May’s historic flood.

Flooding at the Gaylord Opryland Resort & Convention Center forced the CVB to relocate two groups — the national Moose fraternity and Future Business Leaders of America — to other venues in the city, which required the bureau to dip into its own funds.

The CVB loan is to come from the authority’s reserves. Under the memorandum of understanding approved by the authority, the CVB is to pay back the $300,000 over the next three years.

“It’s not a gift,” Metro Finance Director Richard Riebeling told authority members. “It’s simply an advancement of funds.”

Some Metro Council members have questioned the legal grounds of granting the loan.

Riebeling said on Wednesday he met with Metro Department of Law Director Sue Cain, who helped make some changes in the language within the agreement.

10 Comments on this post:

By: nashtnman on 10/7/10 at 11:33

AND THE SCREWING CONTINUES.

By: TITAN1 on 10/7/10 at 11:48

It does?

By: tomw on 10/7/10 at 1:25

tomw
Yes , it was terrible that two conventions were able to be moved and made a lot of money while the city was underwater and damaged to the tune of $2 billion . It's money that will come out of future budgets already earmarked.
You nitwits need to have a reality check. If you don't like the way the city is going ... get the heck out of Dodge and leave the rest of us in peace, moving into the 21st century.

By: yucchhii on 10/7/10 at 2:11

Yet another financial move on the part of Karl DINKS little baby...BUT NO MENTION OF ANYTHING TO TAKE CARE OF NASHVILLE'S HOMELESS PEOPLE!!! Here we are, about to enter the winter's months of COLD WEATHER and NOTHING EVEN THOUGHT ABOUT FOR THE HOMELESS!!! ALL THAT MONEY TIED UP INTO A NEW CONVENTION CENTER WHEN WE STILL HAVE ONE "ONE" BLOCK AWAY FROM THE NEW ONE!!! Karl DINK is ANTI HOMELESS! Wants to sweep it all under hte carpet! BUT, what happens when the lumps under the carpet get too big? It's already noticable NOW, but soon we'll start to TRIP over them! What then? "GREED" is the bottom line...The "LOVE" of money is the root of all evil!!!

By: tomw on 10/7/10 at 2:17

seems to me that Room at the Inn has just opened a large expansion of their facility down on 8th. there are a lot of services and supports for homelss people through out the city, more than for the unemployed who are trying to keep their homes and families going.

By: slacker on 10/7/10 at 2:35

Karl is building the homeless a new park to play in downtown, stop your complaining.

By: TITAN1 on 10/7/10 at 2:35

yucchhii has gone off the deep end on this before. Some of the homeless go to the shelter for food but they won't stay there. How do you help someone who won't help themselves. There IS help if they will just accept it.

By: tomw on 10/7/10 at 2:58

sorry I helped get this thread off topic. convention and tourist bureau bring 'em all on board. let the visitors pay for what we get. We only have limited appeal to most of the world... ie: music and football lets use them to maximize our city.

By: JeffF on 10/8/10 at 7:21

This would have been a wise investment if the meetings were paying for the use of the convention facilities.

By: producer2 on 10/8/10 at 8:45

Those groups used the current Convention Center as well as Municipal Auditorium and booked over 35000 room nights. I think the tourism taxes on that number of rooms during a time when groups were fleeing because of the floods is enough said.