Plan for more than $25M in LP Field upgrades nears final vote

Monday, December 5, 2011 at 5:27pm

The Tennessee Titans’ plan for more than $25 million in upgrades to LP Field is nearing final approval after the Metro Council’s Budget and Finance Committee unanimously voted for the proposal’s bond issuance on Monday.

The vote came after no discussion.

The resolution –– which authorizes the issuance of $28 million in public improvement revenue bonds through 2037 –– heads to the Metro Sports Authority Tuesday morning and the full council Tuesday night. By rule, the committee’s vote recommends the council approve the resolution.

Under the Titans’ proposal, revenues collected through a $2 user fee, which is already tacked on to ticket prices to LP Field events, would cover the bonds’ debt service. A companion bill also set for final consideration Tuesday would increase the user fee to $3.

Metro pays an annual $1 million subsidy for the capital improvements of 12-year-old LP Field. The Titans are tasked with overseeing the daily operations of the stadium, but Metro is responsible for its long-term capital needs.

The Titans management is looking to replace LP Field’s scoreboards with new High Definition video screens, update the facility’s sound system and install elevators, among other enhancements.

If approved, construction would begin in February 2012, and be completed prior to the 2012 National Football League season.

55 Comments on this post:

By: MusicCity615 on 12/5/11 at 6:41

Go Titans and Predators!!!

By: nashmusic2244 on 12/5/11 at 11:40

WOW!
I mean come ON Karl Dean!!!

An unneeded convention center at $$$MILLIONS$$$, a site for a AAA baseball team for $$$$MILLIONS$$$$$, MORE $$$$MILLIONS$$$$$ for the Titans' pockets.....MILLIONS IN SEWER AND DRAIN FEES$$$$$$---------.$$$$.What ELSE!!!!

This guy has got to go!!!!

Nashville will be in debt FAR WORSE than Obama has put the USA in.........

By: bfra on 12/6/11 at 12:13

Karl doesn't know the difference between necessity & luxury. As long as it promotes his ego boosting, it's a GO for him.

By: Captain Nemo on 12/6/11 at 3:31

I did not see Dean’s name mention once, but I did see the council hands all over this. I think if you are going to complain it should toward the council, after all they are the only ones that can make this into law.

By: Captain Nemo on 12/6/11 at 3:32

BTW Well this help pay for Public Works get any more money for street repair?

By: Captain Nemo on 12/6/11 at 4:13

oops sorry. That should of been "Will this..."

By: bfra on 12/6/11 at 4:54

Nemo - IMO and by all indications, Karl controls the council! What have the ever told him NO on?

By: Loner on 12/6/11 at 6:16

Panem et circum.....again.

Bread and circus is Standard Operating Procedure in Nashville, TN...Metro sees its central role as that of entertainment provider to the masses...and kickback provider to sweetheart contractors.

Yeah, in Tennessee, they don't need no steenking educational overhaul, they need publicly financed, professional sports entertainment facilities. Keeping the masses distracted from serious issues, by providing spectacular sports events, keeps the under-educated public compliant, docile and ignorant....it's a very old trick, but it still works quite well in the Volunteer State.

By: Loner on 12/6/11 at 7:09

"The Tennessee Titans’ plan for more than $25 million in upgrades to LP Field is nearing final approval after the Metro Council’s Budget and Finance Committee unanimously voted for the proposal’s bond issuance on Monday. The vote came after no discussion."

Unanimous? NO discussion?

I see; the pro sports teams dictate policy to the Metro Council and Metro uses taxpayer monies to do what they are told to do by their corporate overlords....how cozy is that?

Nashville has serious, fundamental flaws in its system of governance...big business, the mob and pro sports have hijacked the system....your lawmakers must all be on the take....no wonder then , that they fight so tenaciously to hold on to their seats...it's all about the money.

By: treehugger7 on 12/6/11 at 7:22

You pegged it, Loner! It was total culture shock when I moved here in the eighties. Of course at the time, democrats were in charge, so things were better. I was aghast at how stupid the people were. Also what BAD drivers they were! Now that the repugs are in charge, it's only gotten worse. We would move, but my husband's job keeps us here. Things have improved since 1980, especially the restaurant scene and the farmers' markets. I don't know if you are familiar with Bill Boner, a mayor that lived up to his name. I'm sure you can google him and laugh like hell! Hope you can come visit someday and see nashville drivers in action. You will run like hell to get back to your refuge!

By: Rocket99 on 12/6/11 at 7:26

Ok guys, tell me exactly WHERE the money for this is coming out of Metro's budget???????????????? The people who attend events there are paying a usage fee of $2.00 per ticket. This covers the cost. It is NOT causing your property taxes to go up. It is NOT taking money away from education. it is NOT making sewer & water fees go up.

Find it funny how some automatically jump on the elected official of the moment any time they remotely think it's not something they are in favor of. Need to do some reading and research before slamming someone.

By: T-BONE on 12/6/11 at 7:33

Fact: NASHVILLE is gone! DEAD! It is just another stupid city populated by "transplants" that left their "screwed up city" to come here and start the same "process" all over again...SCREW THIS PLACE UP!..GOOD JOB YOUR DOING IT!

By: Kosh III on 12/6/11 at 7:34

Metro has to issue a bond to pay for this, so if the ticket fee somehow goes wrong, then the taxpayers are on the hook for this bond.

Otherwise, I have no problem since it will be paid for by the people who want to attend the games.

I only wish the fee was going from 2 to 5 instead of 2-3 so that the bond could be paid quicker, or that some of the money would go to our crumbling schools. Just yesterday there was an article about how much money the school board needs for capital improvements and that they DO NOT HAVE the money.

By: Rocket99 on 12/6/11 at 7:40

Maybe they should charge a uesage fee to all the students who attend school. Oh wait! They cant. It's public education. The thing the right wingnuts want to do away with.

By: Captain Nemo on 12/6/11 at 7:53

Dear T-Bone;

I have lived here all of my life and Nashville is a better place because of all of the transplants. I even married one and I am a better man for it.

By: Captain Nemo on 12/6/11 at 8:43

There was 4 million dollars in surplus removed from the Water Department to get the Stadium started. Now we have to pay extra on our water bill for upgrades to the system.

By: C.A.Jones on 12/6/11 at 8:56

@ Kosh III: Wait.... You want to raise the ticket fee even higher to be able to use a SPORTS TICKET FEE to pay for crumbling schools? Forgive me if i'm wrong, but having the nicest, newest, and most modern schools doesn't improve the students intellegence does it? I mean, i've seen some extremely nice schools these last 10-15 years with some really stupid kids coming out of them. Seems to me we did just fine with little old school houses. Maybe we could ease the pain of this $25M bond by taking some of the money that's beiung wasted on cappucino machines in our public school and spending that money on LP Field??

@ Everyone Else: Why can you not read the article? Does nit not clearly state that the Titans ticket fee will pay for the upgrades? Does having the Titans play in Nashville not bring MILLIONS of dollars into Nashville as a result? Maybe people only stop in predominately republican counties to purchase their food, beer, gas, and Titans apparel. It almost sounds like you nincompoops would rather LP Field and Titans go away so we can put a really nice school in it's place. BRILLIANT!!!

By: Loner on 12/6/11 at 9:13

Looks like professional zealots are coming out of the woodwork, to defend the "Unanimous Vote" and the "No Discussion" policies of Metro governance?

So, if the Titans suck and attendance drops off dramatically - as it can and often does in the NFL - then the taxpayers pick up the slack? Sweet.

Call it by some euphemism, if you must, but that's corporate welfare folks....Tennessee style.

I can now see why every taxpayer in the region is rooting for the Titans...it's not that they are football fans, they just don't want their taxes to go up, to pay for the team's defeat....that's pretty clever...it gives the illusion of genuine regional enthusiasm for the NFL....ingenious!

By: Loner on 12/6/11 at 9:28

If having the Titans in Nashville has been such a boon for local businesses, as claimed here on this comment board, then the local business owners, not the taxpayers, should be on the hook for this loan...the local business owners are the direct beneficiaries of the Titan's presence locally; let them spring for the 25 million...or let them co-sign on the note.

By: Captain Nemo on 12/6/11 at 9:37

That would be the fair way Loner, but it is not the Nashville way.

By: Captain Nemo on 12/6/11 at 9:40

The problem with the combination of Titans and Nashville fans, is when the Titans start the loosing the fans stop buying.

By: Loner on 12/6/11 at 9:43

A 28 million-dollar loan will require how many more millions in interest, before it is repaid...when will the bonds be paid off and what will be the final cost? Again, no discussion? Unanimous vote?

The article states: The resolution –– which authorizes the issuance of $28 million in public improvement revenue bonds through 2037 –– heads to the Metro Sports Authority Tuesday morning and the full council Tuesday night.

So, here we have Metro rushing at light speed to go into debt for the next 25 years and beyond...to appease a local NFL owner....himself a multi-millionaire. This is absolutely absurd. You and your children, (a 25-year commitment), are being hosed royally...and some locals are coming online to defend this larceny....ludicrous...unless they are in on the sweetheart deal....in that case this madness would make sense.

The NCP should be exposing this "public improvement" scam for what it is, not featuring puff pieces about it. The citizens need to clean house at Metro...something very fishy going on there.

By: Loner on 12/6/11 at 10:05

Thanks, Treehugger, for the kind words of support.

Sometimes, it takes an outsider to see the forest, from afar. The local view is blocked by the trees....of course, as a treehugger, you would know and understand that. I think of the NCP Comment Boards as being a sort of online tree stand...with a built-in, powerful microphone and PA system....it beats the old soap box....great view from up here.

Of course, everyone on this board is free and welcome to comment on the Rochester City Paper (NY), our local city paper...you can see different things from your viewpoint, things that we simply can't see from here...go ahead, meddle in our affairs, it's healthy.

I comment on lots of sites across the globe..lots of folks do...worldwide, instant, two-way communication is not just for the ham radio operators anymore....Marshall McLuhan was a visionary....It's a global village.

By: Captain Nemo on 12/6/11 at 10:31

Loner it is not trees that block the local view, it is the cave walls.

By: Loner on 12/6/11 at 10:40

Notice how the headline says, "Plan for more than $25M in LP Field upgrades nears final vote". In the body of the text we learn that the figure is actually 28 million dollars.

Perhaps, the headline should have read, "Plan for nearly $30M in LP Field upgrades nears final vote". The Editors rounded the figure down, not up...why?

The additional interest costs on that much money, over that much time, was not factored into the actual costs, or so it appears...no discussion, unanimous vote....hasty final vote scheduled....this should alarm the taxpayers.

The NCP should be giving the readers the true and final costs, not the rosy underestimates, IMO...the NCP Editors should put Joey Garrison, or somebody else, back on this story and let them dig for some pertinent facts....thanks.

By: Captain Nemo on 12/6/11 at 10:50

People in Nashville don’t realize that the Arena has never been completed. The rehearsal hall was never finished to keep it with in budget.

By: NewYorker1 on 12/6/11 at 10:52

Ok.... there was an article in the paper other day about how much funds were allocated to repair the roads in Nashville, which was less than half the amount allocated to upgrade the Titan's stadium. Ok, it's something seriously wrong with this. Is the government set up to fund sport franchises or repair and keep our infrastructure in tact? I'm confused about what role our government bodies are playing now days. We really need to vote these bastards out of office and get people in office who has everybody's interest at heart and not just a few. I hate football and hockey. I could care less about them being here, but I do care about is driving on roads that will not damage my vehicles.

By: Captain Nemo on 12/6/11 at 10:55

Hello NY1 and there is something seriously worng with that

By: Captain Nemo on 12/6/11 at 11:15

Nashville was up and coming before the Predators and Titans come. The arena was paying for it ‘self with concerts dates, until the Predators came. Now the Predators owners are being investigated for taking city money. I guess we will have to wait and see what come of this.

By: MusicCity615 on 12/6/11 at 11:30

Nemo,

you couldn't be more wrong.

By: bfra on 12/6/11 at 11:30

When you have enough money, you can buy anything, legal or not. Nashville government is a perfect example of that!

By: Loner on 12/6/11 at 11:33

I Googled some facts and did some math:

The titans play eight home games at LP Field this season.
Source:
http://www.titansonline.com/schedule/season-schedule.html

And, I found this:
LP Field: Capacity: 69,143 Average attendance: 69,143. Percentage: 100%.

Despite a disappointing 8-8 season, including a 0-6 start, the Titans fans came out strong, selling out every single game in 2009.

Source:
http://bleacherreport.com/articles/403287-best-nfl-fans-bases-based-on-attendance#/articles/403287-best-nfl-fans-bases-based-on-attendance/page/27

The current fee, to service the present loans is $32dollars per fan, according to this NCP article, if approved, the fee would be hiked to $3 per attendee.

That means that right now, $138,286 is being charged to ticket-holders per home game, to service current debt obligations. With eight home games per year, the gross revenue generated by this surcharge should be at $1,106,288 for the entire season.

Increasing the fee, to $3 per ticket, should generate $207,429 per home game - $1,659,432 per season, if the 8-game sold-out situation continues down the road and if the fee hike is approved.

Now. let's be honest, all those seats may not be filled by paying customers...100% paid attendance looks like a questionable figure....but that should be the rough, gross revenue figures and there are administrative-accounting fees, I'm sure. So there is "shrink" on that revenue....the net is smaller than the gross, to be sure.

The question is: "Is that enough revenue to cover the loan and the interest over the long haul?"

Apparently, there is unanimous agreement that this proposal presents no danger whatsoever to the taxpayers....no discussion needed...a quick vote, for full and final approval has been scheduled.

I'd be skeptical, folks...why the rush? What's the emergency? Who's doing the contract work? Where are the details?

Demand a full accounting now, not when it's too late.

By: Loner on 12/6/11 at 11:39

OOOPS! Typing Error:

"The current fee, to service the present loans is $32dollars per fan, according to this NCP article, if approved, the fee would be hiked to $3 per attendee.", is wrong.

Should have read: "The current fee, to service the present loans is $2 dollars per fan, according to this NCP article, if approved, the fee would be hiked to $3 per attendee"

The present fee is $2 per fan, not $32...that was a regrettable typo...mea culpa.. The rest of the math should be valid...I used the $2 fee, not the erroneous $32 figure.

Hey, I'm no stenographer...my bad.

By: MusicCity615 on 12/6/11 at 11:42

Loner - it is all events at LP Field.

8 home games, 2 preseason games, playoff games for Titans

6 home games for TSU (smaller attendance, say 20k)

Music City Bowl (Sellout)

CMA Festival (Huge sellouts for three day span), great revenue generator for city

Multiple olympic soccer contests

Point is you can't just assume 8 times a year. Titans have sold out every game in Titans history, those are good historical financials to rely on.

Also, the Titans administration is really going to push fore MORE events to be held at LP Field which would add more revenue. This is what the Predators do, which in turn causing Metro to not be on the hook for taking care of the Arena. If the Predators were to leave, the arena wouldn't leave with them, so all you whiners would still complain that there isn't a major tenant to bring in more revenue.

Not to mention, the Titans and Predators do a good amount of charitable programs for many Nashvillians.

GO TITANS AND PREDATORS!!!

By: Loner on 12/6/11 at 12:07

So, MusicCity615 works for Metro, the Mayor, or Bud Adams? I sense the presence of a professional zealot, with a vested interest....Howsabout you come clean, 615, who' s yer daddy?

By: bfra on 12/6/11 at 12:12

Loner - You got that one pegged!

By: Loner on 12/6/11 at 12:26

LP Field is already 12 years old...when the loans are finally paid off...say in 30 years, or so, the 42-year old monstrosity will constitute a disposal problem...if it lasts that long.

The NFL may not even exist in thirty years time...that could happen, if the players start to sue the NFL and the owners, for job-related disability, en masse, or if the "football colleges" go back to educating young minds, instead of being concussion-producing farm teams for the NFL.

The era of "bread & circus" sports-politics may be coming to an end....let's hope so anyway.

Football started out as just a game, now it's a major industry...some people seem to think of the NFL, as some sort of sacrosanct religion...they possess the passion of religious zealots, when somebody questions their beliefs.

By: Loner on 12/6/11 at 12:43

Of course, this latest demand for cash will not be the last....once a city is tied-in with the sports-politics crowd, getting out of the relationship is very difficult and often it can be expensive. There's no reneging option for the taxpayers....if the pro team leaves town, or folds, or whatever, the citizens are left holding the bag....and the games end on a very sour note...a huge, outstanding bank note.

Bottom line: This is a faith-based loan....not everyone on the hook is a believer...that's undemocratic and unfair.

By: Loner on 12/6/11 at 12:51

Hey, Bfra....we're on the Up for Debate board too.

By: Kosh III on 12/6/11 at 12:56

"This is what the Predators do, which in turn causing Metro to not be on the hook for taking care of the Arena."

Isn't Metro paying 8 million per year to the Preds?

and

Perhaps this is a dumb question, but why can't the Sounds use the Stadium. The two seasons don't really conflict do they? Maybe Pro Soccer as well?

By: yucchhii on 12/6/11 at 12:58

25 MILLION DOLLARS....hmmmm, very interesting. You do know how much road work that will cover during the winter? For 3 years that I'd been in Nashville, I'd seen maybe 3 or 4 plow trucks while snow is on the ground and the plows were NOT even touching the ground to push any of the snow! I once spoke to a person who works with the city and I mentioned that. He said "We don't have the funding for that!" Oh, excuse me, BUT you have PLENTY $$$$ for a convention center NOBODY wants and to build a new stadium for a NON PRO baseball team. No efforts to do anything about the BLACK ICE and PREVENT CAR PILE UPS!!! So where is the $$$ comming from?

By: Captain Nemo on 12/6/11 at 1:31

@MusicCity 615

Where am I wrong?

By: Captain Nemo on 12/6/11 at 1:40

@ MusicCity615

Out of all you have mention, only TSU get any of the money from LP field? Everything else the Titans get, this includes parking CMA festival and other events. The city can not just book an event when the football season is over. They have to get Bud’s approval first.

By: Captain Nemo on 12/6/11 at 1:49

@ judy

We could say the same for the white line for all roads. Just because you don’t or want the uses of bicycle to get around town, dose many that bike lines are maintain.

By: Left-of-Local on 12/6/11 at 1:59

The commentary here has become more and more pointless. 99% chance it will just be a bunch of idiot blowhards blaming Karl Dean for everything.

By: Loner on 12/6/11 at 2:07

"Idiot blowhards"?

By: Captain Nemo on 12/6/11 at 2:14

IDIOT BLOWHARDS;

That is the title of an upcoming movie of yogi’s life.

By: MusicCity615 on 12/6/11 at 2:56

Loner , BFRA-

Yes, because I have an opinion different from you, that means I work for Dean HA!
If that is your logic, then the majority of Nashville works for Dean, since it was a LANDSLIDE reelection for Karl Dean.

Nemo-
Last year Bridgestone Arena was in the top 10 arenas in the world in attendance, thanks to the Predators and the Predators Management recruiting events. Was our arena even close to that in 1996? haha no!!

Some people will say that if the arena is such a great thing, why does metro need to provide a subsidy? It's because Metro knows that if Metro had to maintain the building itself, the operating costs would be much more than the subsidy they provide now. Don't blame the Predators, they are what is good for Nashville because they are main tenant. Also, ask downtown businesses how they were doing during the NHL Lockout?

Go Titans and Predators!!!

By: bfra on 12/6/11 at 3:07

MusicCity615 - Takes "backbone" to admit when your are "blowing smoke". Never mind, everyone pretty well gets your drift! Yo Ho Ho, have another bottle on rum, like Karl did during the "flood".

By: Captain Nemo on 12/6/11 at 3:37

MC615-

Apple and oranges Being in the top ten in attendance is one thing, being self supporting is another thing. The city is in the red after the predators came, before that it was a surplus.

Go Green Bay