Council mayor inch closer to Titans stadium deal - Axios NashvilleLog InLog InAxios Nashville is an Axios company.

Council mayor inch closer to Titans stadium deal

Photo: Raymond Boyd/Getty Images The Titans and Mayor John Cooper's administration are inching closer to a financing plan for a new indoor stadium.But a salient question hangs over the debate: What is the city's financial obligation under the terms of the current lease? Driving the news: The Metro Council committee vetting the stadium deal held its third meeting yesterday.Metro Sports Authority executive director Monica Fawknotson walked the committee through a 2017 study that concluded the city was in maintenance and improvements. Yes, but: Fawknotson explained the shortcomings of that study.It didn't factor in an array of costs such as demolition and installation for new equipment, architectural fees, taxes and permits, or product markups. The latest: The Titans attempted to estimate the city's current lease obligation with their own study released this spring. It found that meeting the terms of the lease would through 2039.Critics, led by Councilmember Sean Parker, called for Metro to pay for an unbiased study examining those costs.Fawknotson told the committee the city is close to finalizing an agreement with a firm to conduct that study. What he's saying: Councilmember and committee chairperson Bob Mendes said during the meeting he'd like for the consultant to explain the difference between the new estimate and the original figure of $293 million."To me, at least, for the new work to be useful, there does need to be a reconciliation," Mendes says. Get more local stories in your inbox with .Subscribe Support local journalism by becoming a member.

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