When a big sports venue gets built, taxpayers can take a hit.
Tuesday, Metro Sports Authority heard what’s being done to protect taxpayers if that new MLS soccer stadium is built at the Fairgrounds.
Under the contracts, any cost overruns will be paid by the team’s owners.
The Sports Authority said it “got hit” on past sports venues. The Nashville Sounds' stadium, First Tennessee Park, went nearly $10 million over budget.
"Everybody remembered and learned lessons from the past," said Monica Fawknotson, executive director of the Sports Authority. "And we said we feel like this is something the team should do, and they were willing to do that."
An extra-ticket tax will be collected to help pay for maintenance and upgrades as the MLS stadium gets older.
That’s a lesson the city learned after taxpayers spent a lot of money upgrading the aging football stadium and hockey arena.
"We're growing. we've become a great sports city, but at the same time we're very aware that the taxpayers should not have to bear the cost of that," Fawknotson said.
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