10/05/17 Joint Meeting: Fair Board & Sports Authority

10/05/17 Joint Meeting: Fair Board & Sports Authority


L . YES, I’M HERING A LOT OF BACKGROUND NOISE >>>>WE’RE GOING TO CALL THE MEETING TO ORDER, WE HAVE A JOINT MEETING OF FAIR COMMISSIONERS AND THE SPORTS AUTHORITY BOARD OF DIRECTORS. THE PUBLISHED AGENDA IS IN FRONT OF US, THE MEETING IS CALLED TO ORDER, AND WE START EACH MEETING WITH AN APPEAL ANNOUNCEMENT, A LEGAL NOTICE AS INFORMATION FOR OUR AUDIENCE IF YOU’RE NOT SATISFIED WITH THE DECISION MADE BY THE METROPOLITAN BOARD OF FAIR COMMISSIONERS TODAY YOU MAY APPEAL BY PETITIONING FOR A WRIT OF CERT WITH THE DAVIDSON COUNTY OR CHANCERY COURT, YOUR APPEAL MUST BE FILED WITHIN 60 DAYS OF THE DATE OF THE DECISION, AND TO ASSURE THAT YOUR APPEAL IS FILED WITHIN A TIMELY MANNER, PLACE ADVISED THAT YOU SHOULD CONTACT YOUR OWN INDEPENDENT LEGAL COUNSEL. ON THE AGENDA TODAY WE HAVE A PRESENTATION THAT WE’RE GOING TO VIEW AND PARTICIPATE IN. MR. RIEBLING IS HERE, I BELIEVE, TO DISCUSS A PLAN FOR A MAJOR LEAGUE SOCCER STADIUM. SO I’LL TURN OVER THE MEETING TO THE PRESENT TAKES AND YOU HERE. I FEEL LIKE I’M IN ANOTHER TIME ZONE OR SOMETHING, I APOLOGIZE ARE FOR THAT. I WANT TO SORT OF KICK IT OFFER, AND KICK IT OVER TO LAURA TO TALK A LITTLE BIT ABOUT THE FAIR GROUNDS. TO KIND OF PUT IT IN CONTEXT, WE THE ADMINISTRATION, MAYOR BARRY BELIEVES THAT THIS IS A UNIQUE OPPORTUNITY FOR THE CITY TO KIND OF MOVE FORWARD WITH TWO REALLY IMPORTANT THINGS ONE IS TO BRING, THE POTENTIAL TO BRING MAJOR LEAGUE SOCCER TO NASHVILLE, WHICH IS A GREAT THING TO OUR COMMUNITY, AND SECOND TO KICK START AND REALLY REVITALIZE THE FAIRG FAIRGROUNDS PROPERTY THAT HAS BEEN UNDER UTILIZED AND FUNDED THROUGH THE YEARS, AND THROUGH THE COMBINATION OF ACTIVITIES NASHVILLE’S PREMIER DESTINATIONS ONCE AGAIN. SO WE’LL BE GETTING INTO THE DETAILS OF THE PROPOSAL AS WE GO ALONG. BUT I THINK THAT WE WANTED TO START IT OUT WITH LAURA TALKING ABOUT THE FAIRGROUNDS ENHANCEMENTS THAT WERE PART OF THE PROJECT, AND GET ON WHERE WE ARE WITH M.L.S. SOCCER, AND THE NEXT STEPS AND THE DETAILS OF THE PROPOSAL THAT WE WILL GIVE TO THE COUNCIL ON MONDAY NIGHT. WITH THAT LAURA, WE’LL GO.>>THANK YOU. JUST A LITTLE BIT ABOUT — ESPECIALLY FOR THE BENEFIT OF OUR GUEST, THE SPORTS AUTHORITY, TALKING A LITTLE BIT ABOUT OUR MISSION. OUR MIX IS WE CONNECT OUR COMMUNITY WITH EVENTS, OUR STRENGTH IN OUR ABILITY TO HOST A WIDE ARRAY OF FAMILY FRIENDLY EVENTS AT AN AFFORDABLE COST. YOU’RE IN OUR CREATIVE ARTS BUILDING RIGHT NOW. IT IS PROBABLY ONE OF THE MORE FREQUENTLY RENTED SPACES ON OUR PROPERTY. WE ESTIMATE ANNUALLY THAT WE HAVE 1.4 MILLION VISITORS EACH YEAR TO 160 UNIQUE EVENTS. EVENTS LIKE OUR MONTHLY FLEE MARKET, OUR RACE SEASON, STATE FAIR, LARGE EXPOS, LIKE THE AND YOU HAD AND GARDEN SHOW, THE CHRISTMAS VILLAGE, THE HERSH AND PERENNAL PLANT SALE, WRESTLING, AND ROLLER DERBY, ARE ALL PROUD TO CALL THE FAIRGROUNDS HOME TO THEIR EVENTS. METRO HAS ALREADY MADE A SIGNIFICANT FINANCIAL COMMITMENT TOWARDS IMPROVEMENT OF THE FAIRGROUNDS CAMPUS. TO DATE SEVERAL UNDER UTILIZED AND YOU UNSAFE STRUCTURES HAVE BEEN REMOVED AND THE STEERIORS OF ALL OF OUR CONDITIONED SPACE HAVE BEEN /-P PAINTED. THIS IS A BUILDING THAT RECEIVED A FRESH COAT OF INTERIOR PAINT. I DON’T MISS THE TWO-TONE YELLOW THAT WAS IN HERE BEFORE. WE LOOK FORWARD TO THE FUTURE BECAUSE WE KNOW THAT STATUS QUO IS NOT ACCEPTABLE. IMPROVEMENTS TO THE SPEEDWAY, OUR BUILDINGS, INFRASTRUCTURE, OUR GREEN SPACE, OUR WATERWAYS ARE ALL VITAL. AND AN M.L.S. STADIUM CAN COMPLEMENT THOSE USES AND ENCOURAGE A COLLABORATIVE USE OF THE SITE. THIS RENDERING DEPICTS A SIMILAR SQUARE FOOTAGE OF CONDITION THE AND UNCONDITIONED SPACE TO WHAT WE HAVE NOW BUT IN A NEW FOOTPRINT, THE INDOOR SPACE IS REPRESENTED IN THE DARKER PURPLE, AND THE OPEN AIR SHEDS IN THE LIGHTER PURPLE. PEDESTRIAN CLOSET AREAS WILL BE IDEAL OUTDOOR VENDOR SPACE, AND GATHERING SPACES TO COMPLEMENT OUR EVENTS. THIS DESIGN BY SHIFTING THE STADIUM INCITING THE NEW FAIRGROUNDS BUILDINGS TOGETHER CONTRIBUTES EFFICIENCY OF SPACE, AND WHILE GIVING OUR EVENTS PROMOTERS MORE FLEXIBILITY WITH THEIR SET UP. A DESIGN THAT COMPLEMENT OUR FUTURE AND EXISTING EVENTS, WITH ADDED BENEFIT OF DUAL USE BETWEEN THE FAIRGROUNDS AND THE STADIUM. THESE IMPROVEMENTS WILL CONTRIBUTE COLLECTIVE WILL I TO THE ENHANCEMENT OF THE PROPERTY. WE’RE AN ACTIVE COMMUNITY SPACE, WE DO A LOT OF EVENTS, BUT WE ALSO RECOGNIZE THAT WE HAVE THE CAPACITY TO DO EVEN MORE. WE HAVE SUCCESSFULLY HOSTED NUMEROUS EVENTS SIMULTANEOUS EVENTS AND RECOGNIZED THAT MORE MEETINGS, MORE FESTIVALS, MORE EXPOS CAN COME TO THE PROPERTY, AND WE DEFINITELY WILL ENGAGE OUR USER GROUPS AS WE MOVE FORWARD THROUGH THIS TRANSITION. I WOULD LIKE TO TURN IT OVER TO MR. WILL ALEXANDER.>>THANK YOU VERY MUCH, LAURA, GRATEFUL TO HAVE THE CHANCE TO TALK TO ALL OF YOU TODAY ABOUT WHAT REALLY IS A HISTORIC OPPORTUNITY FOR OUR CITY >>I AM A HE WILL ISANDERER, THE COFOUNDER OF THE M.L.S. TO NASHVILLE GROUP OF CIVIC LEADERS, THE COMMITTEE HAS PLACED A SIGNIFICANT ROLE, AND WE CAME FROM BEING THE BACK OF THE PACK WHEN THIS PROCESS BEGAN TO BEING ONE OF THE LEADING CONTENDERS TO ONE OF THE EXPANSION TEAMS THAT WILL BE AWARDED IN DECEMBER. ONE QUESTION THAT WE OFTEN GET IS THIS IS INTENSE COMPETITION, WE HAVE 12 CITIES TRYING FOR A SPOT IS NASHVILLE READY FOR THE /PH-LSZ. AND THE ANSWER IS CERTAINLY AN UNQUALIFIED YES. THE BIG NUMBER TO LOOK AT A 100,000 PEOPLE THAT’S TENDED OUR GAME IN JULY, BOTH THE USA, AND PANAMA GAME, AND THE UTAH GAME GOT NATIONAL ATTENTION, AND NASHVILLE GOT A LOT OF ATTENTION AS BEING A GREAT SPORTS TOWN REALLY GOT US ON THE MAP IS A GREAT PLACE, AND WHEN WE SAY — WE REALLY HAVE A LOT OF, A LOT OF EVIDENCE BEHIND THAT WITH THE GREAT SUPPORT. WE’VE GOT A GREAT HISTORY OF TURNING UP OUR NATIONAL GAMES, INCLUDING THE MEXICO GAME, AND PRIOR MEN’S AND WOMEN’S NATIONAL GAMES TOO. BIG CROWDS IS ONLY PART OF THE STRY. NASHVILLE HAS BEEN BUILDING A SOCCER ECOSYSTEM, AND HERE WE HAVE ALMOST 40,000 YOUTH PLAYERS IN MIDDLE TENNESSEE. OVER THE LAST 50 HE TEEN YEARS, THE NUMBER OF HIGH SCHOOL SOCCER PLAYERS HAS INCREASING IN A STEADY CLIP. THE INTEREST IN THE MOST POPULAR GAME IN THE WORLD IS GROWING IN NASHVILLE, AND IT IS A FERTILE PLACE FOR IT TO GROW. THEY’VE SEEN THE SUCCESS OF ATLANTA, THE GIANT CROWDS OF 70,000 THEY HAD LAST MONTH LEADING M.L.S. IN ATTENDANCE, AND LEADING SOCCER IN THE SOUTHEAST, AND PARTICULARLY LEADING SOCCER IN NASHVILLE, AND THIS IS AN IDEAL PLACE FOR M.L.S. TO BE IN OUR CITY. WE ARE READY TO SUPPORT IT IN A BIG WAY, JUST LIKE WE DO THE TITANS, AND PREDATORS. THERE ARE A LOT OF BENEFITS OF BRINGING THE M.L.S. TO NASHVILLE. CERTAINLY, THERE IS ECONOMIC, HERE ARE THE JOBS, WAGES, AND TAX REVENUES CREATED BY THE CONSTRUCTION OF A STADIUM, AND THEN THE OPERATION OF A TEAM. THERE’S THE ADDITIONAL ATTENTION THAT IS GOING TO BE BROUGHT TO NASHVILLE ON A NATIONAL AND GLOBAL LEVEL TO HAVE A NEW TOP TIER SPORTS TEAM HERE. THERE ARE ALL OF THE NEW EVENTS THAT CAN BE HOSTED BEYOND M.L.S. SOCCER, SPORT CAN EVENTS, CONCERTS THAT CAN BE HELD AT A NEW STATE OF THE ARTS VENUE. YOU ALSO HAVE QUALITY OF LIFE IN ECONOMIC DEVELOPMENT, RKED – PEOPLE MOVE TO WHERE THEY WANT TO LIVE, AND THEN IMPORTANT TO HAVE THE TALENT, AND WE WANT NASHVILLE TO BE AN ATTRACTIVE PLACE TO LIVE IN THE YEARS TO COME. A LOT OF PEOPLE ARE INTERESTED IN SOCCER, A LOT OF PEOPLE VALUE THE CHANCE AT HAVING AN M.L.S. TEAM, AND THIS WOULD BE A GREAT ALLENI AMENITY IN NASH. THIS WOULD BE A BIG TOURISM BOOST, WE THINK OF THE NHL, AND, THEY SEE WHEN THEIR TEAM PLAYS THE PREDS, AND THE SAME THING HAPPENS WITH SOCCER, WHAT SHOULD BE ON THE TOP IS THE UNIFYING FORCE THAT SOCCER CAN PLAY. WE’VE GOT A CITY THAT IS REALLY ON A GROWTH IN INCREASING IN DIVERSITY, LOTS OF PEOPLE MOVING HERE FROM ALL OVER THE COUNTRY, AND FROM ALL OVER THE WORLD, AND IT IS IMPORTANT TO HAVE THE COMMON THREADS OF PEOPLE TOGETHER, AND ANYONE WHO WENT TO NISSAN STADIUM,TIVERSITY OF LANGUAGES THERE, IT CAN BE AN UNUGING FORCE TO BRING ALL NASHVILLIANS OLD AND NEW BEHIND A COMMON CAUSE AND DOES A LOT FOR OUR CITY. AS I MENTIONED. THIS IS A VERY COMPETITIVE PROCESS. THERE ARE 12 CITIES THAT ARE TRYING TO VIE FOR THAT’S TWO EAMS THAT ARE GOING TO BE AWARDED JUST THIS YEAR. WE FEEL LIKE WE’RE IN A GOOD POSITION. I THINK THAT IT’S IMPORTANT TO HIGHLIGHT SOME OF THE THINGS THAT GIVE NASHVILLE THE ADVANTAGES THAT WE’VE GOT AGAINST SOME OF THESE LARGER CITIES, AND GREAT SPORTS TOWNS IN THEIR OWN RIGHT. WE MENTIONED IT A LITTLE BIT BEFORE, IT’S THE ENGAGED COMMUNITY. IT TOOK M.L.S. COMMISSIONER, DON GARBER PROBABLY AN HOUR OR TWO ON THE GROUND IN NASHVILLE CAN-DO CITY, AND PEOPLE HERE ARE YOU CUSS TOLD TO WORKING TOGETHER TO PULL OFF BIG THINGS. THAT SPOKE A LOT TO HIM, AND THE COMMUNITY INVOLVEMENT THAT YOU’VE GOT. PEOPLE FROM ALL ACROSS NASHVILLE, DIFFERENT BACKGROUNDS, BUSINESSES, COMMUNITY LEADERS, NONPROFITS PEOPLE IN THE SPORT, SOME ARE IN PUBLIC SPORTS, SOME THAT AREN’T THAT HAVE ALL COME TOGETHER THAT ARE PASSIONATE ABOUT SEEING AN M.L.S. TEAM HERE. YOU’VE GOT THE DEMOGRAPHICS, AND RAPID POPULATION GROWTH, FASTER THAN OUR COMPETITORS, GROWING FASTER THAN MOST OF THEM. YOU HAVE THE DIVERSITY HERE. YOU HAVE THE STRONG ECONOMY. NASHVILLE HAS EXCELLENT JOB GROWTH. WHEN WE PRESENTED TO THE M.L.S. SOME OF THE ECONOMIC DATA ABOUT OUR CITY WE HAD THE LOWEST UNEMPLOYMENT RATE IN THE COUNTRY IN JULY. I ASSUME THAT WE’RE STILL RIGHT THERE. WE MENTIONED OUR GREAT ATTENDANCE AT THE SOCCER MATCHES BOTH CERTAINLY LAST SUMMER AND THEN GOING BACK OVER THE PAST FEW YEARS. GREAT SUPPORT FOR THE PREDATORS AND THE TITANS. I THINK THAT THE STORY OF THE NHL, PARTICULARLY, THE STORY EVER PROFESSIONAL SPORTS WAS WHAT THE PREDATORS HAD, AND IT DIDN’T GO UNNOTICED THAT THE TITANS SOLD OUT 100 CONSECUTIVE GAMES WHEN THEY MOVED TO NISSAN STADIUM. AND THE CURRENT SUCCESS OF OUR PROFESSIONAL SPORTS TEAMS IS A BIG FACTOR WHICH IS WHY WE’RE HERE NOW, AND WE THANK THEM FOR THEIR HELP IN THIS PROCESS. NASHVILLE HAS WHAT NO CITY IN THIS COMPETITION HAS AND FEW CITIES AROUND THE WORLD. WE HAVE AN ENTERTAINMENT CAPITAL, WE HAVE A /TPWHROEBL BRAND. THE M.L.S. LOOKING AT PARTNERING WITH THIS CITY BY HAVING A TEAM UNTIL THIS MARKET WE CAN HE GENERATE MORE INTEREST IN THE LEAGUE IN THE COUNTRY, AND AROUND THE WORLD OF BECAUSE OF NASHVILLE’S BRAND. AND THE LAST IS CORPORATE SPONSORS. WE’RE A SMALLER CITY BUT WE HAVE A LARGE DISPROPORTIONATE NUMBER OF LARGE COMPANIES THAT ARE HEAD QUARTERED HERE AND THEY ARE FORTUNATE FOR US COMPANIES THAT ARE INVOLVED WITH THIS COMMUNITY AND THIS BID. THE FIRST PERSON TO JOIN THE M.L.S. ORGANIZING COMMITTEE WAS THE CHAIRMAN OF NISSAN NORTH AMERICA, JOSÉ MUNOZ. AND WE HAVE A DON’T UNDERSTAND STANDING OWNERSHIP GROUP WHICH IS REALLY FOR WHAT THE M.L.S. IS FOCUSED ON, AND BECAUSE OF THAT, WE’RE IN THIS EXCELLENT POSITION NOW WHERE REALLY THERE’S ONE MAJOR STEP REMAINING TO PUT US IN A POSITION TO GET A TEAM. UP HERE ARE SOME QUOTES BY M.L.S. COMMISSIONER DON GASHER. YOU CAN SEE THE PRAISE FOR NASHVILLE. THE LEAGUE SEES THE NASHVILLE M.L.S. AS A PERFECT FIT, A CITY ON THE RISE HAVING ITS BEST DAYS NOW AND EVEN BETTER DAYS IN FRONT OF IT. JUST LIKE THE POSITION THAT THE M.L.S. IS IN. M.L.S. IS /KPHAEUTED ABOUT NASHVILLE, AND THEY REMAIN CLEAR THAT THERE’S ONE THING TO BE DONE AND IS PROVIDE THEM AN APPROVED STADIUM PLAN IN TIME FOR THEM TO TAKE THE VOTE ON THE EXPANSION TEAMS IN DECEMBER. WITH THAT, I WOULD LIKE TO INTRODUCE, JOHN ABRAHAM, WHOSE THE LEAD INVESTOR, AND THE DRIVER BEHIND NASHVILLE’S M.L.S. BID. THANK YOU.>>THANK YOU, WILL, AND THANK YOU TO BOTH OF THESE BOARDS FOR INVITING US BACK TO TALK TO YOU ABOUT OUR PLANS. WILL MENTIONED I WOULD BE THE LEAD INVESTOR, AND THAT’S AN EXCITING THING TO CONTEMPLATE. BUT IT WOULDN’T BE NEARLY AS EXCITING TO ME IF WE WEREN’T CONTEMPLATING DOING THIS IN NASHVILLE. NASHVILLE HAS BEEN MAY HOME FOR- I’M 56 YEARS OLD, ALL BUT THREE MONTHS OF MY LIFE. WHEN I WAS THINKING ABOUT THE FUTURE AND WHAT I WANTED TO DO IN THE FUTURE, AND THIS IS THIS KIND OF OPPORTUNITY CAME AROUND, IT REALLY STRUCK A CORD WITH ME BECAUSE I REALLY WANTED TO DO THIS IN NASHVILLE, AND WITH NASHVILLE, AND DO IT FOR NASHVILLE. AND I THINK THAT THAT COMBINATION IS WHAT HAS ME HERE AND REALLY ENERGIZES ME ABOUT THIS WHOLE EFFORT. AS I PROJECT INTO THE FUTURE, AND AS I THINK ABOUT A GENERATION FROM NOW, I THINK THAT IT’S VERY VERY POSSIBLE THAT WITHIN A GENERATION THAT SOCCER, THAT A MAJOR LEAGUE SOCCER STADIUM /PHAEUPBLG /PHAEUPBLG /PHAEUPBLG /PHAEUPBLG /PHAEUPBLG MAJOR LEAGU FRAN CHATANOOGA, AS WE GROW THROUGH NOT ONLY THE TOTAL NUMBER EVERY CITIZENS, OUR DIVERSITY GROSS. I THINK THAT HAVING A MAJOR LEAGUE SOCCER FRANCHISE WOULD BE AN IMPORTANT LEGACY FOR OUR AS WILL MENTIONED, WE’VE COME FROM THE BACK OF THE PACK, AND IF ONE WERE INTO HORSE RACING, WE WOULD SAY THAT WE’RE WAY BEHIND. BUT A COMBINATION OF REALLY GOOD WORK BY THE GROUP THAT WE’VE PUT TOGETHER, AS WELL AS FRANKLY THE DYNAMICS OF NASHVILLE. WILL MENTIONED WHEN THE COMMISSIONER AND HIS TEAM WERE HERE, THEY WERE BLOWN AWAY BY WHAT’S HAPPENING HERE, AND I THINK THAT — THEY’RE NOT UNIQUE IN THAT CAPACITY. BUT WHEN WE STARTED THIS PROCESS BACK IN THE FIRST OF THE YEAR. IT WAS CLEAR THAT THERE WERE SEVERAL KEY THINGS THAT WE HAD TO DO. RATHER THAN SPEND A LOT OF TIME, YOU KNOW WORKING ON PROMOTING OURSELVES. WE’RE GOING TO CHECK THE KEY BOXES THAT WE NEED TO CHECK IN ORDER TO PUT OUR BEST A FOOT FORWARD.>>THE FIRST ONE IS THE OWNERSHIP GROUP AND IT IS IMPORTANT TO M.L.S. TO HAVE STRONG LOCAL OWNERSHIP. I’M GRATEFUL THAT THEY BELIEVE THAT I FIT THAT BILL, AND THAT MAY FAMILY DOES. SECONDLY, I COULD NOT BE MORE EXCITED TO HAVE THE WILL FAMILY, WHO ARE THE OWNERS EVER OF THE MINNESOTA VIKINGS IN OUR GROUP AS WELL. THEY HAVE SPENT A LOT OF TIME TALKING ABOUT THEIR FINANCIAL SUCCESS, BUT THE REASON THAT I’M SO EXCITED BEYOND THE FACT 9 THAT THEY’RE REALLY NICE PEOPLE IS THEIR BROAD AND VAST EXPERIENCE IN TERMS OF MANAGING PROFESSIONAL SPORTS ENTERPRISES. THEY’VE JUST COMPLETED A BILLION DOLLAR PLUS STADIUM THAT WAS DELIVERED ON TIME AND ON BUDGET. THOSE RESOURCES, THOSE PEOPLE THAT WERE DEEPLY INVOLVED HAVE BEEN EMBEDDED IN OUR PROCESSES AS WE’VE BEEN WORKING FORWARD ON THIS STADIUM. BUT EVERYTHING FROM FAN EXPERIENCE, TO CORPORATE SPONSORSHIP. THAT ORGANIZATION HAS A PHD, IN ALL OF THOSE AREAS, AND IT GIVES ME A LOT OF CONIF I HAD /TKE CONFIDENCE THAT WE HAVE PEOPLE WITH THAT KIND OF TALENT AS PART EVER OUR GROUP. THE SECOND IS THE MARKETING. WILL ALLUDED TO IT. THERE IS NO SECRET THAT THERE IS A TON OF YOUTH SOCCER IN THIS AREA, 40,000 SOME PLUS KIDS PLAYING. AND I DON’T KNOW IF THERE WOULD BE MORE THAN THAT NUMBER OF FAMILIES, THAT ARE EXPOSED TO SOCCER, AND TO HAVE THE EVENTS, THE U.S. TEAM GAME IN THE BEGINNING OF JULY YOU AND THE PREMIER LEAGUE FRIEND LIP AT THE END OF JULY DRIVES HOME THE FACT THAT NASHVILLE IS INTERESTED AND READY TO GET BEHIND AND SUPPORT SOCCER. AS WILL MENTIONED, THE FINAL PIECE, THE M.L.S. HAS NOT COME OUT AND SAID THAT THERE’S LIKE FINAL LISTS OR ANYTHING LIKE THAT, BUT THERE’S A STRONG SENSE THAT THERE ARE FOUR CITIES, NASHVILLE BEING ONE OF THEM THAT ARE STRONGLY BE CONSIDERED AS INFORMAL FINALISTS FOR TWO SLOTS. I FIRMLY BELIEVE THAT IF WE CAN COME TOGETHER AS AND CITY, AND COME UP WITH A VIABLE PLAN, AND WORKED WITH THE MAYOR’S OFFICE, IF WE CAN ABOUT THE A PLAN SIMILAR TO WHAT WE’VE PUT FORWARD, PASSED BEFORE M.L.S. VOTES ON THE NEXT TWO CITIES, I THINK THAT WE HAVE A REALLY STRONG CHANCE OF BEING ONE OF THE TWO CITIES CONSIDERED, AND I THINK THAT IT WILL BE A DECISION THAT WE CAN ALL LOOK BACK ON A GENERATION FROM NOW WHEN SOCCER IS CLEARLY EMERGED AND IS THE DOMINANT SPORT IN OUR COUNTRY AS A VERY VERY WISE DECISION AT THE TIME. SO THANK YOU AGAIN FOR THE TIME TO COME UP AND SPEAK ABOU THE STADIUM, AND THE STADIUM FINANCING. I WANT TO INTRODUCE, MARY, AND HER DAYTIME JOB IS A CFO, AND HER NIGHT JOB, AFTER HOUR JOB IS REALLY RUNNING POINT ON THIS WHOLE PROJECT, THANK YOU.>>GOOD MORNING, THANK YOU VERY MUCH, JOHN. UP HERE ON THE SCREEN, WE HAVE THE STADIUM SITE PLAN WE USED THE RENDERING THAT LAURA SHARED EARLIER. IT IS SIMILAR TO WHAT WE SHARED WITH YOU BACK IN AUGUST. AS WE CONTINUE TO REFINE OUR STADIUM PLAN. A COUPLE OF THINGS HAVE CHANGED. WE REDUCED THE SIZE OF THE STADIUM TO 27,500, AND IT’S A NATURAL GRASS PLAYING SURFACE, AND THE FOUR TOP CITIES THAT JOHN MENTIONED EACH OF THEM HAVE COME FORTH WITH PROPOSALS THAT HAVE SIMILAR TYPE FIELDS, AND WE ALSO UNDERSTAND FROM A PLAYER PERSPECTIVE THAT IS REALLY WHAT IS PREFERRED. THE ESTIMATED COST OF THE STADIUM IS APPROXIMATELY 250 MILLION, AND THE OTHER THING THAT I JUST WANT TO KIND OF POINT OUT A LITTLE BIT IS THE LOCATION OF THE STADIUM HAS MOVED SLIGHTLY SO THAT WE COULD BETTER ACCOMMODATE ALL OF THE FAIRGROUNDS PROGRAMMING. THE BUILDINGS THAT LAURA POINTED OUT THEY’RE ALL TO BE ON ONE SIDE OF THE STADIUM SO YOU CAN HAVE BETTER INTERACTION WITH EVENTS HERE, AND THIS RENDERING SHOWS THAT THE STADIUM IS TRULY IN THE GREATED WITH THE FAIRGROUNDS SITE. WE JUST COMPLETED THE CONCEPTUAL DESIGN AND IF WE’RE FORTUNATE TO BE AWARDED AN M.L.S. TEAM, AND I WILL TALK ABOUT THE TIME LINE IN A LITTLE BIT. WE WILL BE LOOKING FOR WAYS THAT WE CAN FULLY IN THE GREAT THE STADIUM WITH OTHER ASS OF THE FAIRGROUNDS, PERHAPS SHARED CONCESSIONS, SHARED REST ROOMS. YOU CAN EVEN IMAGINE WITH THE FLEA MARKET, YOU CAN USE ITS CONCOURSE OF THE STADIUM, AND I’M SURE THAT THERE ARE PEOPLE SMARTER THAN ME THAT CAN COME UP WITH BETTER THINGS ON DO. WE THINK THAT IT CREATES SOME GOOD OPPORTUNITIES.>>WE TALK ABOUT THE ECONOMIC IMPACT OF JUST THE STADIUM CONSTRUCTION. WE ENGAGED DR. BILL FOX OF UT, KNOXVILLE. BOYD CENTER FOR BUSINESS AND ECONOMIC DEVELOPMENT. ON THE SLIDE THIS KIND OF TALKS ABOUT THE JOHN GOING ECONOMIC IMPACT OF THE OPERATION PHASE. THERE’S ACTUAL CONSTRUCTION, AND IT KIND OF HAS A ONE-TIME BENEFIT. DURING THIS TIME IT IS EXPECTED TO RESULT IN OVER 3500 JOBS WITH AN ANNUAL WAGE IMPACT OF $139 MILLION. DURING THE OPERATIONS PHASE, IT’S JUST SHY OF 1900 JOBS WITH ANNUAL WAGES OF 78 MILLION. IF YOU WERE TO MEASURE THIS OVER 30 YEARS, IT’S ABOUT A 2 BILLION FAVORABLE IMPACT TO OUR ECONOMY THAT WOULDN’T EXIST TODAY WITHOUT THE STADIUM. THE LAST ITEM THAT I WANT TO UPDATE YOU ON IS THE TIME 9LINE. WE’RE CURRENTLY IN THIS OCTOBER, NOVEMBER PHASE WHERE WE’VE HAD THE INFORMATIONAL SESSION WITH THE COUNCIL. WE KNOW THAT THERE’S ANOTHER COUNCIL MEETING LATER THIS MONTH, AND EVERYBODY HAS KIND OF COMMENTED ON THE DECEMBER TIME FRAME. SO THIS ISN’T OUR TIME FRAME, BUT M.L.S. WHEN THEY CAME OUT EARLIER THIS YEAR, THEY SAID THAT THEY WOULD PICK TWO EXPANSION TEAMS AT THEIR DECEMBER BOARD EVER GOVERNOR’S MEETING WHICH IS APPROXIMATELY MID DECEMBER. AND IN ORDER TO MAKE SURE THAT WE’RE CONSIDERED TO BE ONE OF THOSE POTENTIAL TWO TEAMS WE NEED TO HAVE A VIABLE STADIUM PLAN, WHICH MEANS WE HAVE TO GO THROUGH ALL OF OUR LOCAL REQUISITE APPROVE AS, AND IF THAT IS ABLE TO HAPPEN, AND WE ARE AWARDED A FRANCHISE. IT DOESN’T MEAN WE START CONSTRUCTION DAY ONE. WHAT HAPPENS IS THAT TEAM WOULD START PLAYING IN 2020, AND WE WOULD NEED TO FIND A TEMPORARY HOME FOR ONE YEAR, AND WE NEED TO SET UP A TIME LINE THAT THE STADIUM WOULD NOT BE COMPLETED UNTIL MARCH OF 2021, AND THAT WOULD BE THE FIRST SEASON THEY WOULD BE PLAYING THERE. SO WHAT THAT ALLOWS IS DURING 2018, THERE’S TIME TO GO THROUGH ALL OF THE DETAILED DESIGN PLANNING,ING THROUGH ALL OF THE CONSTRUCTION PLANNING SO WE MAKE SURE THAT THINGS ARE BUILT IN A RESPONSIBLE AND APPROPRIATE MATTER. AS RICH STARTS TALKING ABOUT WHAT OUR ARRANGEMENTS ARE. ONE OF THEM IS THAT THE TEAM HAS AGREED TO COVER COST OVERRUNS, SO WE HAVE ENOUGH TIME TO MAKE SURE THAT WE CAN PLAN FOR THAT, AND MAKE THAT HAPPEN THE MOST EFFECTIVE WAY. AND SO THE ACTUAL CONSTRUCTION ON THE STADIUM WOULD PROBABLY BEGIN MAYBE LATE 2018 WITH SOME OF THE GENERAL MAYBE PREPARATION AND EARLY 2019 THE STADIUM PORTION, AND I’LL LET RICH COVER THE TIME LINE OF SOME OF THESE OTHER EVENTS, AND WITH THAT, I WILL TURN IT OVER TO HIM, THANK YOU.>>AT THE OUTSET, I WILL GO THROUGH THIS PRETTY QUICKLY, THERE ARE A FEW MEMBERS OF THESE TWO BOARDS WHO MIGHT LIKE TO ASK QUESTIONS. I KNOW THAT YOU’RE A BASHFUL GROUP IN GENERAL FROM MY PRIOR MEETINGS HERE. BUT WE WILL GO THROUGH THESE SORT OF DEAL POINTS QUICKLY, AND THEN WEEK OPEN UP FOR MORE QUESTIONS. I THINK THAT THIS MORNING, AS I WAS — I GOT UP EARLY AS USUAL, AND I SORT OF DROVE AROUND FOR A WHALE. AND I DROVE THIS NEIGHBORHOOD A LITTLE BIT, AND THIS ISSAL UNBELIEVABLY EVOLVING COMMUNITY THAT NONE OF US, AND I SAY NONE OF US. I DON’T THINK WE FORESAW A FEW YEARS AGO. AND BECAUSE OF THAT, I THINK THAT THIS IS REALLY A UNIQUE TIME TO BRING THIS PROJECT FORWARD BECAUSE IT COULD REALLY TIE THIS WHOLE COMMUNITY TOGETHER WITH THE REST OF THE CITY AND THIS IMPORTANT EVENT WE’RE IN.>>AND WHILE PROFESSIONAL SPORTS ARE NOT A REQUIREMENT BUT A NICETY, I THINK THAT THIS ONE, BECAUSE OF THE INTERNATIONAL NATURE OF SOCCER REALLY HAS SOME UNIQUE ABILITIES TO REALLY SORT OF TRANSCEND SPORTS, AND REALLY BRING THIS COMMUNITY EVEN CLOSER TO GO AS WE GROW AND GO FORWARD. SO WHEN I SAY THAT THE STADIUM AND SOCCER IS IMPORTANT, BUT NOT A REQUIREMENT, MAYOR BARRY WAS COMMITTED TO TRYING TO WORK OUT AN ARRANGEMENT TO DO THIS. BUT IT HAD TO BE ON TERMS THAT WE FELT PROTECTED THE TAXPAYERS AND WAS REALLY IN THE LONG TERM IN THE BEST INTEREST OF THE CITY. WE BELIEVE THROUGH MANY HOURS OF NEGOTIATIONS AND DISCUSSIONS WHAT WE HAVE TO PRESENT REALLY DOES MEAT THOSE CRITERIA, AND WE THINK THAT IT IS SOMETHING GOD OGOING FORWARD PROTECTS THE NEEDS OF THE CITY, THE GENERAL FUND OF THE TAX BASE, WHILE ALLOWING FOR GREAT IMPROVEMENTS ON THIS PROPERTY. SO WE START WITH THE FIRST SLIDE THAT TALKS ABOUT THE BIG PICTURE, AND THIS IS A PROJECT THAT IS 90 PERCENT FUNDED FROM PRIVATE SOURCES AND REVENUES GENERATED FROM THE FACILITY AND REALLY TEN PERCENT OF PUBLIC MONEY WHICH IS VASTLY DIFFERENT FROM MANY OF THE OTHER PROJECTS THAT WE’RE SEEING AT OTHER PUBLIC STUMPS AND THINGS OF THE FUTURE. AS WE LOOK AT THE BENEFITS OF THE HE PROJECT, MANY OF THOSE WE’VE COVERED ALREADY. WE’VE TALKED ABOUT THE FAIRGROUNDS IMPROVEMENTS, WHAT I HAVEN’T TALKED ABOUT, AND THE OTHER THING THAT I SPENT MOST OF MY TIME ON IS TRANSIT, AND CLEARLY WE WILL SEE A PLAN PRESENTED BY THE CITY FOR THE FUTURE OF TRANSIT IN THIS COMMITTEE, NOLANSVILLE ROAD WILL BE AN INTEGRAL ROAD OF THE FUTURE TRANSIT DEVELOPMENT OF THE CITY AND THIS CORRIDOR WILL PROVIDE LOTS OF ACCESS, AND FUTURE GROWTH POTENTIALS. AT THE END OF THE DAY, LET’S GO OVER THE LEASE TERMS. WE CAN TALK ABOUT BENEFITS. BROADLY SPEAKING, KIND OF THE STRUCTURE OF THIS IS A LITTLE DIFFERENT BECAUSE WE HAVE TWO PUBLIC BODIES INVOLVED IN THIS THE FAIR BOARD AND THE SPORTS AUTHORITY. AND SO THE STRUCTURE ESSENTIALLY WILL BE THAT THE FAIR BOARD WOULD AGREE TO GROUND LEASE THE PROPERTY TO THE SPORTS AUTHORITY AND THEN THE SPORTS AUTHORITY WOULD ISSUE THE DEBT AND ENTER IN A LONG TERM LEASE AGREEMENT WITH THE SOCCER TEAM. THAT’S SORT OF OF THE FUNDAMENTAL TRANSACTION. IT’S VERY SIMILAR TO WHAT WE’VE DONE ON THE OTHER SPORTS FACILITIES IN TOWN. THE ONLY DIFFERENCE HERE BEING THAT YOU HAVE THE FAIR BOARD INVOLVED IN IT. YOU HAVE TWO PUBLIC BODIES, RATHER THAN JUST THE SPORTS AUTHORITY INVOLVED IN IT. WE WOULD ESSENTIALLY HAVE A 30 YEAR LEASE FOR THE STADIUM THAT WOULD START TO RUN IN 2051. THE TEAM COVERS THE DEBT SERVICE ON THE LEASE, ON THE BONDS THAT ARE OUTSTANDING, MINUS WHAT WE COLLECT FROM A TICKET TAX, AND THE SALES TAX REDIRECT. THE CITY COMMITMNT, BEYOND SOME CAPITAL INVESTMENT WHICH I WILL TALK ABOUT IN A MOMENT, WILL BE FOR ONLY THE FIRST TEN YEARS OF THE LEASE WOULD BE THE CITY BE OBLIGATED TO PROVIDE ANY SHORTFALL IN THE OVERALL DEBT SERVICE PAYMENTS SHOULD THE SALES TAX REDIRECT AND THE TICKET TAX FALL SHORT. SO IN THE FIRST FIVE YEARS IT’S CAPPED AT 4 MILLION. THE SECOND FIVE YEARS IT’S CAPPED AT 3 MILLION. SAID ANOTHER WAY, IF NOBODY CAME TO ANY GAMES, AND NOBODY SHOWED UP, THE CITY’S OBLIGATION WOULD BE CAPPED AT $4 MILLION FOR THE FIRST FIVE YEARS, AND THEN 3 MILLION FOR THE NEXT FIVE YEARS, AND THEN AFTER THAT IS FULLY ON THE TEAM. AGAIN, THAT’S IF NOBODY SHOWED UP. OBVIOUSLY, WE DON’T THINK THAT’S THE CASE. AS WE GET INTO IT, WE’RE PRETTY COMFORTABLE FROM A CITY PERSPECTIVE THAT THERE’S PROBABLY LITTLE IF ANY EXPOSURE EVEN IF THE EARLY YEARS, MAYBE A LITTLE BIT IN THE EARLY YEARS, BUT NOT MUCH, AND OVER TIME WE WILL GROW AS MORE EVENTS ARE HELD, AND MORE SALES TAXES AND TICKET TAX ARE COLLECTED. AS MARY ALREADY ALLUDED TO, ONE OF THE BIG ISSUES THAT WAS ON THE MIND OF THE COUNCIL IS BECAUSE OF THE ISSUES ASSOCIATED WITH FIRST TENNESSEE THAT THE TEAM WILL BE RESPONSIBLE FOR ANY CONSTRUCTION COST OVERRUNS. AS SHE POINTED OUT, THIS PROJECT HAS A MUCH LONGER STARTING TIME THAN WE DID WITH THE BALLPARK. THA THAT ONE WAS DONE ON A FAST PACE, THIS ONE WILL GIVE US TIME TO DIG INTO THE DRAWINGS, AND GET FURTHER INTO THE DESIGNS BEFORE WE WOULD EVER GO FORWARD WITH CONSTRUCTION, SO WE THINK THAT THE RISK IS MUCH MORE MINIMAL LICE IZED. AND THE TEAM WOULD BE RESPONSIBLE FOR COST OVERRUNS, AND LIKE OTHER CITY PROJECTS, SPORTS AUTHORITY PROJECTS ESPECIALLY FIRST TENNESSEE, HERE THE TEAM WOULD BE RESPONSIBLE FOR ALL OF THE DAY TO DAY OPERATIONS OF THE FACILITY, THE COSTS TO OPERATE THE FACILITY WOULD ALL BE BORNE BY THE TEAM, WITH MAJOR CAPITAL EXPENDITURES DOWN THE ROAD. LIKE OTHER PROJECTS, WE ARE PUT NOTHING THIS STRUCTURE A FUND TO START ACCUMULATING MONEY TO PAY FOR THOSE CAP X, DO YOU KNOW THE ROAD. THE TICKET TAX WOULD BE INCREASED TO START PUTTING MONEY INTO A POT TO BE USED FOR CAP X, 4, 1618 YEARS TOWN THE ROAD. WE HAVE IT GOING UP $0.50 IN YEARS FIVE, AND ANOTHER $0.05 IN SEVEN. AND AGAIN CREATING FUND FOR THE FACILITY THAT WE HAVE NOT DONE IN OTHER PLACES. SO IT’S SORT OF A SUMMARY OF THE LEGISLATION THAT HAS TO HAPPEN ON THIS. AS YOU KNOW, RIGHT NOW WE HAVE FILED LEGISLATION WITH THE COUNCIL. AND SORT OF THE COUNCIL’S ROLE IN THIS RIGHT NOW, FOR THE SPORTS AUTHORITY TO GO FORWARD WITH ISSUING ANY DEBT THE COUNCIL HAS TO SIGN OFF ON IT. THE COUNCIL HAS TO GIVE THE SPORTS AUTHORITY ESSENTIALLY AUTHORIZATION TO ISSUE THAT DEBT. AND SO THE LEGISLATION WITH THE COUNCIL TODAY WHICH THEY’LL CONSIDER EITHER AT THE NEXT MEETING OTHER THE FIRST MEETING IN NOVEMBER, DEPENDING ON THEIR SCHEDULE GIVES THE SPORTS AUTHORITY THAT AUTHORITY TO ISSUE THAT DEBT. BUT AS WE’LL TALK ABOUT IN A MINUTE, ONLY IF CERTAIN CONDITIONS ARE MET. IT’S NOT A BLANK CHECK TO GO OUT AND ISSUE THE DEBT. BUT YOU CAN ONLY ISSUE THE DEBT IN THESE CONDITION ARE MET WHICH WE’LL TALK ABOUT. SO ULTIMATELY, THE SPORTS AUTHORITY WOULD HAVE TO APPROVE THE ISSUANCE EVER OF THE BONDS AND OF AN OPERATING LEASE WITH THE TEAM. AGAIN, VERY SIMILAR WITH FIRST TENNESSEE, AND THE FAIR BOARD ITS ROLE WOULD BE TO AGREE TO LEASE THE LAND FOR THE STADIUM SITE FOR THE SPORTS AUTHORITY, AND THEN AS PART OF THE NEGOTIATED PACKAGE ON THIS, AS YOU CAN SEE, WE HAVE PUT AT THE LOT OF THE — MOST OF THE RESPONSIBILITY FOR REPAYMENT OF THIS PROJECT ON THE TEAM. AS PART OF THE NEGOTIATIONS WE WOULD AGREE TO MAKE AVAILABLE TO THE TEAM ON A LONG TERM LEASE ARRANGEMENT AROUND TEN ACRES, WHICH COULD BE USED FOR SOME PRIVATE DEVELOPMENT WHICH WE THINK WOULD ONLY BENEFIT THE SITE, BENEFIT THE AREA, AND BENEFIT THE STADIUM LONG TERM. WE DO NOT HAVE ALL OF THE ELEMENTS OF THAT WORKED OUT, OTHER THAN THE TEN ACRES THAT WOULD HAVE TO BE AGREED UPON BY THE FAIR BOARD. WE SAID THAT WE WOULD EXPECT TO SEE SOME LEVEL OF AFFORDABLE HOUSING AS PART OF THAT OVERALL DEVELOPMENT.>>AND SO WHEN I TALK ABOUT THE CONDITIONS, THERE’S REALLY ONE BIG CONDITION, AND THAT’S THAT THEY HAVE TO GET THE TEAM. SO IF THE M.L.S. DOES NOT AWARD THE FRANCHISE IN DECEMBER, THEN NONE OF THIS HAPPENS. NO STADIUM GETS BUILT. WE DON’T GO FORWARD ON THE PROJECT. OBVIOUSLY WE WOULD STAY IN THE HUNT FOR A FUTURE ONE, BUT WE DON’T GO FORWARD AT THIS TIME. THE OPERATING LEASE WOULD HAVE TO BE AGREED TO, THE GROUND LEASE HAS TO BE APPROVED WITH THE FAIR BOARD. THE OTHER MAJOR CONDITIONS THAT WOULD BE OF INTEREST TO ME IS THAT THE CITY WOULD NEED TO AGREE TO ISSUE $50 MILLION IN GENERAL OBLIGATION BONDS, 25 MILLION OF WHICH ARE USED FOR THE STADIUM COST, PUBLIC INFRASTRUCTURE AS PART OF THE STADIUM, THAT’S CONCOURSES, UTILITIES, ROADS, ANY EVENT THAT COMES OUT OF THE STADIUM COST, AND FOR THE FAIR BOARD MEMBERS THEIR INTEREST WOULD BE ANOTHER $25 MILLION WOULD BE UTILIZED FOR THE FAIR GROUND IMPROVEMENTS THAT WOULD ESSENTIALLY REPAY FOR THE NEW BUILDINGS, BETTER DESIGN BUILDINGS, BETTER FUNCTIONAL BUILDINGS ARE, MODERN BUILDINGS FOR THIS ENTERPRISE HERE AT THE FAIRGROUNDS. THE OTHER CONDITION THAT THE FAIR BOARD KNOWS TO DEMOLISH ANY BUILDINGS OUT HERE REQUIRES COUNCIL APPROVAL. WE WOULD HAVE TO GET COUNCIL APPROVAL TO DEMOLISH ANY BUILDINGS, ONCE WE DETERMINE WHAT IF ANY ARE TO BE TORN DOWN, AND THEN FINALLY THE CITY FAIR BORED WOULD HAVE 20 CIVIL I CAN DATES, AND THE FAIRGROUNDS HAVE MANY MANY OPPORTUNITIES TO USE THE CITY. THERE WOULD BE GREATER ACTION BETWEEN THE USE OF THE STADIUM AND THE FAIR FACILITIES, AND THE LEASE WOULD REQUIRE, COOPERATION TO MAKE SURE THAT WE WEREN’T STEPPING ON EACH OTHER’S TOES. YOU DON’T WANT A SOCCER GAME WHEN THERE’S A FLEA MARKET WEEKEND. THOSE ARE OPERATIONAL HUGHES THAT WOULD NEED TO BE WORKED OUT. FINE WILL I ON THE STADIUM PLAN, IN THE FINANCE TOGETHER BRING IT ALL HOME, AS MARY POINTED OUT. IT’S A $250 MILLION STADIUM. THE TEAM IS GOING TO CONTRIBUTE $25 MILLION IN EQUITY, ESSENTIALLY EQUITY TO PAY FOR THE STADIUM COSTS. THE CITY IS GOING TO PUT IN $25 MILLION TO PAY FOR THE PUBLIC INFRASTRUCTURE ELEMENT ALSO OF THE STADIUM, SO THAT’S THE $50 MILLION, AND THEN THERE WOULD BE LEFT ABOUT $200 MILLION THAT WOULD HAVE TO BE FINANCED, WHICH WOULD HAVE ESSENTIALLY DEBT SERVICE OF AROUND $13 MILLION A YEAR. SO WHAT THAT MEANS IS THAT THE TEAM WOULD BE RESPONSIBLE FOR NINE OF THAT 13 MILLION, AND THE CITY WOULD BE RESPONSIBLE, THE TESTIFY SIT WOULD BE CAPPED AT 4 MILLION, BUT THE 4 MILLION WOULD BE THE VAST BULK IF NOT ALL WOULD COME FROM SALES TAX, AND A SEAT TAX THAT WOULD BE PUT ON THE PROJECT.>>THE OTHER COMMITMENT ON THE CITY IS THAT TO SELL THE BONDS THERE NEEDS TO BE CREDIT SUPPORT BEHIND THE BONDS. LIKE WE’VE DONE ON OTHER SPORTS FACILITIES, THE CITY WOULD PLEDGE ITS NONTAX REVENUES, WHICH MAKES THE BONDS INVESTMENT GRADE, GIVES THEM A STRONG DOUBLE A RATING, VERY SIMILAR TO THE CITY’S OVERALL DEBT RATING. IT DOESN’T TAKE MONEY FROM THEM. IT IS A PLEDGE THAT IF THE REVENUE SHORTFALLS TONIGHT COME INTO BEING, THAT WOULD BE THERE TO GO FORWARD. I THINK THAT I OBVIOUSLY WENT THROUGH THAT VERY FAST, AND I USPECT THAT YOU ALL MIGHT HAVE A QUESTION. I WON’T ASK WHO WILL HAVE THE FIRST QUESTION. ANY QUESTIONS, YES?>>[ INAUDIBLE ] >>[ INAUDIBLE ].>>SO THE STRUCTURE IS THAT THE ANNUAL DEBT SERVICE ON THE $200 MILLION OF BONDS IS RIGHT AT $13 MILLION. SO IN YEARS 1 THROUGH 5 IF LESS THAN $4 MILLION IS COLLECTED FROM SALES TAX REDIRECT AND THE SEAT TAX, THE CITY WOULD MAKE UP THAT DEFICIENCY. IN YEARS 6 THROUGH 10, IT’S CAPPED AT 3 MILLION, AND IF THE REVENUES FROM THOSE TWO SOURCE ARE LESS THAN 3 MILLION, THE CITY WOULD MAKE UP A DEFICIENCY UP TO THAT LEVEL.>>SO TO REACH THAT 4 MILLION, ARE YOU SAYING THAT YOU HAVE TO REACH A CERTAIN ATTENDANCE IS THAT LIKE 90 PERCENT ATTENDANCE?.>>I DON’T KNOW THE EXACT PERCENTAGE NUMBERS. WE HAVE SOME PERFORMANCE THAT WE CAN SHARE. BUT IT’S BASED ON THAT WE HAVE SORT OF A VERY OPTIMISTIC PROFORMA. WE HAVE WHAT WE THINK IS A REASONABLE PROFORMA, AND THE WORST CASE OF A PRO FORM AN IS THAT NOBODY COMES TO ANY GAME. AND WE THINK AND WE CAN SHARE IT WITH YOU, UNDER THE OPTIMISTIC FORMULA, THAT WE GET WELL OVER 4 MILLION IN THE FIRST YEAR. IN THE MORE PROBABLE CONCLUSION, WE THINK IT WOULD BE PRETTY CLOSE TO THAT 4 MILLION, BUT THERE MIGHT BE A GAP DEPENDING ON EXACTLY WHAT OTHER EVENTS ARE USED AT THE FACILITY DURING THAT YEAR. AGAIN, WHAT WE WANT TO GO INTO THIS IS KNOWING WHAT THE- CAPPING THE CITY’S EXPOSURE, AND MINIMIZING WHAT WE THINK MIGHT HAVE TO COME FROM THE CITY. AND WE THINK IT’S VERY LIKE I THAT THE CITY WOULD NOT HAVE TO PAY ANYTHING. .>>RICH, THANK YOU FOR THE PRESENTATION, AND THANK YOU TO THE OWNERSHIP TEAM FOR BRINGING THIS PLAN FORWARD. IT’S VERY EXCITING FOR THE FAIRGROUNDS TO SEE SOME NEW INVESTMENT COMING. BUT COULD YOU WALK US THROUGH THE PRIVATE DEVELOPMENT PORTION ONE AT A TIME? I WANT TO UNDERSTAND THAT.>>SURE. THAT SEEMS TO BE ONE THAT SOME PEOPLE HAVE SOME QUESTIONS ABOUT. AS WE NEGOTIATED THIS AGREEMENT FROM OUR PERSPECTIVE, CLEARLY WE HAVE PUT THE MAJOR LIABILITY ON THE TEAM WHICH IS, AGAIN, I WOULD SAY VERY DIFFERENT FROM THE ARRANGEMENTS AT THE OTHER THREE SPORTS FACILITIES IN TOWN. WE FELT THAT WITH ALL THE CITY HAS, KIND OF WHERE WE ARE AS A CITY TODAY, THAT’S THE STRUCTURE THAT HAD TO BE. SO WE ALSO FELT THAT SOME ECONOMIC DEVELOPMENT AROUND THE STADIUM SITE WAS GOING TO BE BENEFICIAL LONG TERM FOR THE STADIUM AS WELL AS THE FAIRGROUNDS. SO AS PART OF ESSENTIALLY THE NEGOTIATIONS, WE PROCEED THAT THE OWNERSHIP GROUP WOULD — AGAIN, OBVIOUSLY, THIS IS ALL SUBJECT TO EVERYONE APPROVAL, I’M NOT COMMITTING ANYTHING, YOU HAVE TO APPROVE THIS — IS THAT THE FAIR BOARD WOULD AGREE THAT TEN ACRES AGREED UPON BY THE FAIR BOARD AND THE MANAGEMENT STAFF. WE DON’T HAVE EXACTLY WHERE IT WOULD BE IDENTIFIED YET WOULD BE MADE AVAILABLE TO THE TEAM FOR THEM TO BRING IN A THIRD PARTY OR ONE OF THEIR MEMBERS TO DEVELOP SOMEONE WHO WOULD BE SUPPORTIVE OF THE FAIR BOARD PROPERTY. AND WE WOULD ENVISION THAT THE FAIR BOARD WOULD OBVIOUSLY HAVE TO AGREE TO IT. THE PROPERTY WOULD HAVE TO BE REZONED SO THERE WOULD BE — THERE WOULD HAVE TO BE COMMUNITY MEETINGS AND COUNCIL WOULD HAVE TO SIGN OFF ON THE REZONING OF THE PLAN. SO ALL OF THOSE ELEMENTS ARE SOME BUILT-IN OF SAFEGUARDS SO THEY COULDN’T BUILDING IS THAT WAS NOT ACCEPTABLE OR COMPLEMENTARY TO THE FAIRGROUNDS OPERATIONS.>>WHEN DO WE GET THE DETAILS ON THE EXACT LOCATION.>>THAT WOULD BE IN ADDITION TO THE BONDS NEXT YEAR. SO AGAIN, THIS PROJECT IS MOVING FAST BECAUSE WE HAVE AN ARTIFICIAL DEADLINE THAT WE DON’T CONTROL, AND AND THAT’S THE M.L.S. DECEMBER DEADLINE. SO TYPICALLY ALL OF THE BELLS AND WHICH I WHISTLES ARE NOT D. SO ALL OF THAT WOULD HAVE TO BE APPROVED PRIOR TO THE ISSUANCE OF THE DEBT IN SOMETIME IN 2018. AND THE THAT WOULD GO TO THE DEBT SERVICE OF THE STADIUM?>>IT WOULD GO TO THE CITY’S FUNDS. THERE IS NO COMMITMENT ON THAT. THE DEBT SERVICE — EXCUSE ME THE PROPERTY TAXES THAT DEVELOPMENT ARE NOT TIED TO THE FINANCING AT ALL?>>WHAT IS THE THINKING BEHIND THAT? FOR YOU KNOW, THE CITY’S FUND VERSUS THE STADIUM DEBT SERVICE?>>BECAUSE, WELL, THE CITY WOULD RECEIVE THE O’BRIEN FIT FROM IT. IT JUST HELPS THE CITY’S OVERALL, THAT’S THE THINKING BEHIND IT. WE DIDN’T WANT TO TIE INTO THE DEBT SERVICE. WE HAD AN AGREEMENT ON HOW THE DEBT SERVICE WAS GOING TO BE PAID FOR, AND ESSENTIALLY WE THOUGHT IT WAS IN THE BEST INTEREST OF THE CITY TO BE ABLE TO CAPTURE THAT MONEY LONG TERM. WE HAVE SOME OTHER NEEDS GOING FORWARD.>>A COUPLE OF QUESTIONS. THANK YOU FOR THE PRESENTATION. I’M EXCITED ABOUT SOCCER, AND THINK IT CAN BE DONE RIGHT. MY TWO QUESTIONS KIND OF DEAL WITH SOME INITIAL DETAILS AND PRINCIPLES. MY CONCERN IS THAT WHERE OTHER CITIES HAVE GOTTEN THEMSELVES IN TROUBLE IS WHEN THERE ARE SOME DETAILS, PRINCIPLES THAT GET LEFT ON THE BACK END. AND WE END UP IN BAD SITUATIONS. AND I AM I’M TRYING TO HOPEFULLY GET US TO A PLACE WHERE WE ADDRESS THESE THINGS ON THE FRONT END. ONE OF THEM IS TRAFFIC AND PARKING. HAS THERE BEEN ANY TRAFFIC STUDIES YET ABOUT ISSUES OF THE ADEQUACY OF WEDGEWOOD AVENUE? THE CHALLENGES ON NOLANSVILLE ROAD MOST NAMELY, THAT THERE’S BEEN A NICE CSX, TRAIN THAT ROLLS THROUGH DURING COMMUTE TIME IN THE MORNING >>I’M ENVISIONING FOLKS TRYING TO GET TO DOWNTOWN SOCCER GAMES, SITTING ON FOURTH AVENUE, AND MISSING KICKOFF, AND CONNECT THE TO THAT IS PARKING. INITIAL RENDERINGS, I HAD SEEN PREVIOUSLY HAD A PARKING STRUCTURE. WHEN WE TALKED ABOUT THE INITIAL PRESENTATION LAST MONTH THERE WAS TALK ABOUT FAIR PARK, AND WHEN FAIR PARK WAS PRESENTED TO THE FAIR BOARD, THE TALK WAS THAT THE FIELDS THERE COULD BE USED AS OVERFLOW PARKING IN OCCASIONAL CIRCUMSTANCES. BUT THE INITIAL PRESENTATION FROM METRO AND M.L.S. TALK ABOUT FAIR PARKING USED PRETTY REGULARLY AS OVERFLOW PARKING WHICH WOULD SEEM TO TAKE AWAY FROM THE PARK A LOT OF THE TIME. SO IF THAT’S BEING RELIED UPON AS PARKING- WHAT I’M GETTINGATHY HAVEN’T SEEN ADEQUATE PARKING PLANS YET. IT’S HELPFUL THAT WILL VANDERBILT IS NOT IN THIS, WHICH IS A MUCH BIGGER USE, BUT WHAT ARE THE PLANS TO ADDRESS ADEQUATE PARKING WHICH WE HAVEN’T SEEN YET. IT HAS A PARKING FRANK, IT IS A MUCH SMALLER STADIUM, AND LET’S GET TO THE PARKING PLANS OUT FRONT.>>LET ME SAY OUT FRONT. NO STADIUM HAS ADEQUATE PARKING. THE TITANS WOULD LOVE ANOTHER 10,000 SPACES AND BRIDGESTONE HAS NO PARKING ALTHOUGH THERE ARE A LOT OF FACILITIES DOWNTOWN. FIRST TENNESSEE HAS A GARAGE. WE WOULD FILL ONE TENTH OF THE CAPACITY OF THE STADIUM. SO I THINK THAT THERE ARE SEVERAL FACTORS HERE. WE HAVE ORDERED A TRAFFIC STUDY. SO OUR RPM, WHICH NOW HAS A NEW NAME IN THE PROCESS OF DOING A COMPLETE TRAFFIC STUDY TO COME UP ‘WITH SOME RECOMMENDATIONS GOING FORWARD. I DON’T BELIEVE — I HAVE A NOT SEEN ANY OF THOSE RESULTS YET, SO I DON’T THINK THAT WILL THEY’RE DONE YET. I THINK THAT YOU HAVE TO THINK THAT THIS FACILITY HAS A LOT OF PEOPLE ON IT ON A WEEKLY BASIS. AND SO YOU HAVE ABOUT 1500 SPACES AVAILABLE ON THE PARK SITE ON THE FAIR PARK SITE. YOU’VE ADDITIONAL PARKING FOR THE UNDEVELOPED PROPERTY, THE DEVELOPED AREAS OF THIS SITE. AND I THINK THAT IT’S FAIR TO SAY THAT WE ARE LOOKING AT THE FEASIBILITY OF A PARKING STRUCTURE. WE JUST DON’T KNOW YET WHETHER THAT’S GOING TO BE NECESSARY OR WHETHER IT COULD BE BUILT INTO THE PROJECT. BUT THERE ARE, YOU KNOW, 3 OR 4 — SEVERAL, 3,000 AT LEAST SITES OF SPACES AVAILABLE ON THE SITE, AND THE OTHER THING TO REMEMBER IS THE SOCCER IS 17 GAMES. SO IT’S NOT LIKE BASEBALL WHERE IT’S 70 GAMES A YEAR. SO YOU HAVE 17 GAMES, HOPEFULLY A COUPLE OF PLAYOFF GAMES, HOPEFULLY A COUPLE OF EXHIBITION GAMES OR A CONCERT OR SOME OTHER EVENTS. BUT YOU’RE LOOKING AT PROBABLY 25 TO 30 SORT OF MAJOR EVENTS OUTSIDE OF THE FAIR, USING THE FAIRGROUNDS USING THE FACILITY FOR FLEE MARKETS AND OTHER THINGS LIKE THAT. I UNDERSTAND THE PARKING ISSUES. WE WILL HAVE MUCH MORE WORK ON THAT, AND WE’LL CONTINUE TO REPORT BACK ON THAT AS WE KNOW MORE. WE THINK THAT THERE’S PROBABLY — ALSO IN ADDITION TO THAT, LONG TERM WE WILL HAVE HOPEFULLY TRANSIT ON NOLANSVILLE ROAD, AND I THINK THAT YOU’RE FINDING NUMBER OF PEOPLE GOING TO EVENTS NOW ARE USING RIDE SHARING SERVICES. I KNOW THAT I TO, AND I THINK THAT PEOPLE ARE INCREASINGLY USING THE RIDE SHARING SERVICES WHICH IS BRINGING DOWN THE REQUIRED PARKING LEVEL LONG TERM. AND YOU TIED IN RIGHT WITH WHAT MY SECOND QUESTION IS. WHEN YOU TALKED ABOUT THE NUMBER OF NIGHTS. ON THE PRESENTATION OF MONDAY CONCERTS WERE DISCUSSED, NONSOCCER USES AND THAT’S SORT OF A — SO, I WANT TO GET A SENSE OF — I’VE GOT A NUMBER OF REPORTS FROM PEOPLE WHO ATTENDED THE NEIGHBORHOOD SNAP PRESENTATION THEY WERE CONCERNED ABOUT THE LACK OF DETAIL ABOUT CONCERTS. THEY ARE VERY CONCERNED ABOUT THIS. ON MONDAY’S MEETING THEY RESPONSE TO COUNCILMAN O’CONNELL’S QUESTION THAT THE TEAM WOULD BE VERY INCENTIVIZED TO USE THE SITE, BECAUSE THEY GET PAID REVENUE FROM NONSOCCER USE ALSO. HOW MANY CONCERTS IS THE TEAM PROJECTING TO HAVE IN THE STADIUM? IS IT A 27,000 SEAT VENUE, AND WE KIND OF WOULD LIKE TO HEAR SOMEBODY FROM THE M.L.S. TEAM TO UNDERSTAND THAT 50 YARD AWAY IS NEIGHBORHOODS, AND HOMES, AND ISN’T LIKE THE AMPHITHEATER WHERE THERE ARE CONCERTS THERE >>YOU WOULD BE SURPRISED.>>THAT’S WHY I RAISED IT. WE HAVE HOMES IN A NEIGHBORHOOD. A 27,000 SEAT CONCERT VENUE IS SOMETHING DIFFERENT THAN SOCCER. IT IS AN EXAMPLE OF WHAT WE DO. I HAVE TO COMMEND THE NASHVILLE SPEEDWAY GROUP WHO HAS DONE A GREAT JOB OF ADDING CONSIDERATIONS AND LIMITATIONS ON THEIR NOISE. AND A REPRESENTATIVE IS WORKING WITH ME ON A NEW CONTRACT, AND THEY’RE WILLING TO GO A LOT FURTHER IN THAT PROCESS, SO, YOU KNOW, KIND OF TRYING TO GET A FIRMER IDEAS, HOW MANY CONCERTS ARE BEING ENVISIONED AND WHAT KIND OF LITTLETATIONS ARE WILLING TO PUT ON THE FRONT END, RATHER THAN LATER TO RECOGNIZE THE NEIGHBORHOOD THAT’S RIGHT AROUND THE ON THE FRONT END, R LATER TO RECOGNIZE THE 9NEIGHBORHOOD THAT’S RIGHT AROUND THE AREA.>>S WE ARE IN AN EARLY STAGE, AND WE’RE GOING THROUGH THE PRELIMINARY PLANNING, AND IN TERMS OF TALKING TO OTHER CITIES THAT HAVE M.L.S. TEAMS AROUND THE COUNTRY, AND RIGHT NOW A ROUGH ESTIMATE IS 8 TO 10. WE UNDERSTAND THAT WE’RE A TENANT ON THIS SITE. SO IF THE SITE HAS RESTRICTIONS ABOUT A CURFEW WHEN A VENUE NEEDS TO END, WE’RE GOING TO HAVE TO BE RESPECTFUL WITH THAT. THAT’S ONE OF THE THINGS THAT WE SHARED WITH THE NEIG NEIGHBORHOOD GROUP. WE DON’T HAVE A PROGRAM, WE DON’T KNOW WHO WE WOULD SIGN UP YET. BUT WE KNOW THAT THE ECONOMICS WORK AROUND OUR OTHER VENUES THAT’S PART OF WHAT NEEDS TO HAPPEN, AND THAT HELPS GENERATE THE SALES TAX, AND TICKET TAX THAT WILL ULTIMATELY CONTRIBUTE TO A CAPITAL RESERVE FUND. AND SO THE OTHER POST THAT’S IMPORTANT. WE’VE GOT 17 HOME GAMES. IF YOU’RE FORTUNATE ENOUGH TO GET IN THE PLAYOFFS MAYBE THERE’S A COUPLE OF GAMES THERE. WE’VE ALSO SAID THAT WE’RE COMMITTED TO BEING INTEGRATED THAT THE OTHER USES OF THE FAIRGROUNDS. SO THERE’S A FAIR AMOUNT OF PROGRAMMING THAT GOES HERE. SO IT’S NOT LIKE YOU CAN SCHEDULE A CONCERT AND A RACE ON THE SAME DAY. AND WE UNDERSTAND THAT THE CURRENT FACILITIES ARE USED FOR CONCERTS AND OTHER EVENTS RIGHT NOW AND WE JUST KNOW THAT IT HAS TO BE WORKED INTO IT, AND HOPE THERE I THAT HELPS ANSWER YOUR QUESTION >>AND LIKE HE SAID, WE BUILT IN TIME, THEY HAVE TO SHUT DOWN, I THINK THAT’S 11 IS THE TIME. I’M NOT POSITIVE ON THAT. THOSE ARE ARE THE KINDS OF THINGS AS WE GET INTO THE OPERATIONAL SIDE OF IT WE CAN CLEARLY BUILD IT IN, AND PROTECT THE NEIGHBORS. WE CONTINUE TO HAVE CONVERSATIONS WITH COUNCILMAN SLEDGE AND WE KNOW HIS CONCERNS WITH THE NEIGHBOR HOOD AND AS WE HAVE COMMUNITY MEETINGS ABOUT THE CONCERNS. THE TECHNOLOGY CAN DO A LOT WITH SOUND VERSUS, THE OLD SPEAKER SYSTEM, ALL OF THAT WILL FACTOR IN AS THEY START TO DESIGN THE ULTIMATE DESIGN TO MINIMIZE ANY IMPACT LONG TERM FOR THE NEIGHBORHOOD. OBVIOUSLY WE WANT THIS TO FIT INTO THE NEIGHBORHOOD, BECAUSE IT IS A GROWING, CHANGING NEIGHBORHOOD. WE DON’T WANT TO BE THE ENEMY OF THE NEIGHBORHOOD. WE WANT TO BE THE PARTNER AND THE GOOD PART OF IT, AND YOU’RE A RESIDENT, AND YOU CARE ABOUT THESE ISSUES, AND YOU DON’T WANT PEOPLE KNOCKING ON YOUR DOOR WITH COMPLAINTS. WE WILL DO OUR BEST TO KEEP THEM FROM KNOCKING ON YOUR DOOR. AS /WHRAOERPB DOOR >>AS WE LEARN MORE ABOUT IT, WE CAN ADDRESS IT. WE ARE A HE NOT GOING TO PUT SOMETHING IN HERE THAT’S A DETRIMENT IT THIS COMMUNITY, IT IS GOING TO BE A POSITIVE FOR THIS COMMUNITY.>>I JUST WANT TO THANK THE- CAN YOU HEAR ME? I JUST WANT TO THANK THE OWNERSHIP GROUP, THE MAYOR’S OFFICE AND COMMUNITY AND OTHER STAKEHOLDERS, IT’S VERY EXCITING HOW FAR WE’RE GOTTEN AT THIS POINT, ALL OF THE HARD WORK THAT’S GONE INTO IT AT THIS POINT. SO WE WANTED TO THANK EVERYBODY FOR THAT. FOLLOWING UP ON SOME OF THE OTHER RELATED ITEMS. I HAD A QUESTION ABOUT WHAT EXACTLY WILL BE, FROM THE FAIR BOARD PERSPECTIVE, WHAT EXACTLY WE’LL AND ASKED TO VOTE ON TODAY VERSUS TOMORROW, AND ALSO IN PARTICULAR RELATION TO THE TEN ACRES. THAT WILL GOING TO BE KIND OF TIED INTO WHAT WE’LLEN NEED TOGETHER TODAY OR THE WORK NEXT SUMMER AFTER THE STADIUM?>>SINCE WE DON’T KNOW EXACTLY WHERE THE TEN ACRES ARE. THAT’S SOMETHING THAT WE WILL ADDRESS OVER THE COMING MONTHS. JOHN OR SUES AND, HELP ME ON WILL WHAT THE FAIR BOARD IS BEING ASKED TO SIGN OFF ON RIGHT NOW.>>FROM A LEGAL STANDPOINT, THE FAIR BOARD DOESN’T HAVE TO APPROVE ANY KIND OF LEASE AGREEMENT OR ANYTHING NOW. THAT WILL COME DOWN THE — I ENVISIONED AN EITHER APPROVE WILL OF OF A RESOLUTION, OR A MOTION FROM THE BOARD THAT REQUESTS THE COUNCIL TO AUTHORIZE THE SPORTS AUTHORITY TO ISSUE THE DEBT SUBJECT TO ALL OF THOSE CONDITIONS THAT RICH JUST TALKED ABOUT.>>GREAT.>>IN RELATIONSHIP TO YOUR 9COMMENTS ABOUT THE FINANCIAL PROFORMAS, I THINK THAT WOULD BE IMPORTANT TO LOOK AT, CURIOUS TO SEE HOW THE DIFFERENT POTS OF MONEY ARE MAKE PAYING FOR IT. GOING BACK TO THE TAX ITEM TWO, ARE ANY OF THE — I GUESS IT’S THE ATTENDANCE TAX, LIKE $1.75. ARE ANY OF THE EVENTS, ARE THOSE SUBJECT TO THAT TAX TOO?>>THE TICKET TAX, THEY’RE SUBJECT TO THAT, YES, SIR. I KNOW THERE’S A PROVISION IN THERE AROUND YEAR 6, 7 TO BE INCREASED FROM $1.75 TO TWO $0.25 FOR LONG TERM IMPROVEMENTS, AND NOTHING TO ADDRESS IT FOR YEARS 7 THROUGH 30. HOW HAS IT BEEN ADDRESSED. THE ADDITIONAL TICKET TAX WOULD BE IMMOST POSTED, IN YEAR SEVEN AND IT WOULD GO ON FOREVER. I WOULD HAVE A 50 SENT INCREASE IN YEAR /-RBGS /-RBGS, AND THAT MONEY WOULD 9BE ACCUMULATED AND GO INTO A RESERVE FINALSED.>>THE I’M THINKING MORE LONG TERM. I KNOW HOW TITAN STADIUM HAS DONE, NOT BEING EXPERTS LIKE OUR BRETHREN OVER HERE, HOW THE LONG TERM IMPROVEMENTS HAVE BEEN DONE YEARS 20 PLUS. THE CITY WOULD HAVE THAT OBLIGATION TOLD MAINTAIN THAT FAST TILT LAKE WE DO ON THE OTHER FACILITIES. LIKE THOSE FACILITIES WE ARE THINKING OF THEM ON THE FRONT END, AND BUILDING IN A MECHANISM TO GENERATE SOME MONEY. WILL IT BE ENOUGH? ONLY TIME WILL TELL. HOW THE BUILDING WILL HANDLE WEATHER THINGS OF THAT NATURE, BUT LONG TERM IT IS THE CITY’S BUILDING AND IT WOULD BE THE CITY’S OBLIGATION LIKE THE OTHER SPORTS VENUES. WE HAVE ANOTHER QUESTION, PROBABLY BEST FOR MARY, SINCE SHE WAS ADDRESSING THE STADIUM CAPACITY ITEM. WE TOOK IT FROM MOVING IT TOWN FROM THE 27,500. IT’S A LITTLE LARGER THAN THE AVERAGE M.L.S.. SO I JUST WANTED TO GET YOUR FEEDBACK ON WHAT WAS BEHIND THAT DECISION TO LAND AT THAT NUMBER, AND THE COMFORTABILITY OF FILLING THOSE SEATS IN A NORMAL –>>THANKS. SURE. IN THE EARLIER YEARS, THE M.L.S. HAS TOLD US THAT MAYBE AROUND 20,000 WAS KIND OF THEIR OPTIMAL SIZE. SO AS YOU SEE SOME OF THESE EARLIER STUMPS THEY ARE IN THAT KIND OF RANGE. AS THEY’VE CONTINUED TO ANALYZE IT, AND AS YOU LOOK AT THE POPULARITY OF SOCCER GROWING AND AND YOU LOOK AT THE SUCCESS IN ATLANTA WHERE THEY CONSISTENTLY HAD WILL CROWDS OF 40 TO 50,000 A YEAR, AND WE’RE REALLY LOOKING AT IT, AND BELIEVE THAT WE CAN SUPPORT A STADIUM OF THAT SIZE, AND LOOKING TOWARD THE FUTURE AS WELL. PUT YOU DON’T WANT TO END UP WITH SOMETHING THAT IF YOU BUILT IT TOO SMALL THAT YOU COULD NEVER FULLY GET THE FULL EFFECT OF IT. AND WE THINK THAT THAT’S THE RIGHT SIZE, AND IT WILL WILL WORK. AND THEY’RE IN THE PROCESS OF DOING DILIGENCE ON IT, AND WE UNDERSTAND IT, AND ARE WORKING WITH THEM ON THAT, AND SO WE FEEL PRETTY COMFORTABLE WITH THAT.>>THANK YOU. ONE ERIE GUESS FOLLOWUP TO THAT. I’M JUST CURIOUS IN THE OTHER 3 OR 4 CITIES, DO ANY OF THOSE OTHER CITIES HAVE THEIR PLANS FINALIZED FOR A STADIUM?>>PLEASE EXCUSE ME, I’M DOING IT BY MEMORY, SO SACRAMENTO HAS BEEN WORKING ON THIS FOR SEVERAL YEARS. THEIR STADIUM PLANS ARE PROBABLY THE /TPARGT EGGS ALONG, AND THEY’RE ACTUALLY STARTING WORK ON SOME OF THE DEVELOPMENTS SURROUNDING THEIR STADIUM. AND I BELIEVE THAT THE SIZE IS 22,000 OR SO WITH THE ABILITY TO EXPAND UP A BIT. THE OTHER TWO TEAMS,ING CINCINNATI, I’M NOT AWARE THAT THEY HAVE COME UP WITH A VIABLE STADIUM PLAN TODAY. I THINK THAT THEY PLAY IN A COLLEGIATE STADIUM. AND THEN DETROIT HAD DISCUSSION ABOUT BUILDING STADIUM WHERE THEIR JAIL IS UNDER CONSTRUCTION, AND THIS TERRY /TRAG IGTO DO A LAND SWAP. I’M NOT SURE IF THAT’S WORKING OUT. SO THINGS HAVE BEEN KIND OF QUIET THERE. I DON’T KNOW OTHER ALTERNATIVES THAT THEY’RE EXPLORING >>I WAS WONDERING IF I CAN SLIP OUT NOW.>>WHAT I WANT TO FIRST SAY IS JUST KNOWING THE DEALS THAT WERE DONE WITH FORD ICE CENTER AND THE SOUNDS STADIUM, I REALLY APPLAUD YOU AND THE ADMINISTRATION FORM THINKING ABOUT THIS AREA, BECAUSE WHEN YOU LOOK AT WHAT HAS HAPPENED, WE HAD TO HAVE JUST FAITH IN THE ADMINISTRATION, AND OUT IN GERMANTOWN, WE’VE HAD HUGE SUCCESS, AND I WANT TO COMPLIMENT YOU FOR THE FORESIGHT. I LIKE A LOT OF THE ASPECTS OF THIS PROPOSAL, PARTICULARLY THE TICKET TAX AND LOOKING AT OUR CAPITAL NEEDS DOWN THE ROAD. I THINK THAT THAT IS JUST EXCELLENT AND REALLY WILL HELP THE SPORTS AUTHORITY LOOK AT THOSE CAPITAL NEEDS DOWN THE ROAD. I REALLY THANK THE OWNERS FOR THE AMOUNT OF MONEY THAT YOU ARE PUT NOTHING THIS DEAL. IT IS A DIFFERENT DEAL THAN SOME OF THE OTHER DEALS THAT WE HAVE SEEN. IT IS A HUGE COMMITMENT TO NASHVILLE. I WANT TO THANK THE ADMINISTRATION FOR NEGOTIATING THIS DEAL. I THINK THAT IT’S A GOOD DEAL FOR THE CITY. I HAVE QUESTIONS, OF COURSE, BUT I JUST YOU WANT TO MAKE SURE THAT I SAY THAT BECAUSE HAVING SERVED ON THE SPORTS AUTHORITY FOR SEVERAL YEARS, I REALLY DO APPRECIATE WHERE WE ARE AT THIS JUNCTURE, UNDERSTANDING DEADLINES THAT ARE INVOLVED, AND HOW HARD EVERYONE HAS WORKED. I THINK THAT WE HAVE A MEETING NEXT WEEK I AM NO THE SEEING — I HAVEN’T GONE ONLINE TO LOOK, THE RESOLUTION THAT WAS FILED WITH THE COUNCIL. SO WHAT I UNDERSTOOD BY WHAT YOU SAID, MR. COOPER IS THAT WE WOULD BE ASKED TO BE IN SUPPORT OF THE RESOLUTION THAT WAS FILED WITH THE COUNCILS.>>THE SPORTS AUTHORITY SINCE THEY ARE THE ONES THAT WOULD BE ISSUING THE DEBT IT’S A LITTLE BIT DIFFERENT. AS OF OF LAST NIGHT WE GOT A RESOLUTION DRAFTED THAT ESSENTIALLY CONDITIONALLY APPROVES THE ISSUANCE OF THE BONDS SO THAT SUBJECT TO ALL OF THE CONDITIONS SO THERE WOULD PROBABLY BE SUBSEQUENT ACTION THAT THE SPORTS AUTHORITY WOULD HAVE TO TAKE BEFORE ISSUING THE DEBT. SO THIS IS JUST KIND OF A CONDITIONAL APPROVAL.>>SO WE WOULD NEED TO KNOW WHAT THE COUNCIL RESOLUTION SAYS IF WE’RE SUPPORTING ISSUING BOND. WHEN I GET BACK TO THE OFFICE, I WILL E-MAIL YOU BOTH THE VERSION THAT THE SPORTS AUTHORITY- IT’S STILL KIND OF THE DRAFT THAT I HAVE TO MAKE SURE THAT BOND COUNCIL IS OKAY WITH SOME OF THIS STUFF. SURE.>>BUT YEAH, I CAN E-MAIL IT TO YOU.>>IF THERE’S A RESOLUTION THAT CONTAINS THE CONDITION THAT THE TEN ACRES BE DEEDED TO A PRIVATE GROUP?>>THAT IS NOT A CONDITION OF THE FINANCING, NO.>>OKAY. IS IT NOT A CONDITION, SO WE AS A SPORTS AUTHORITY, IF WE APPROVE OR WE RECOMMEND APPROVAL OF THE BOND PART, WE ARE NOT MAKING ANY RECOMMENDATIONS AS TO THE-.>>THAT’S CORRECT, THE FAIR BOARD.>>SO I’M GOING TO SAY WHAT I KNOW THEY’RE GOING TO ASK, BECAUSE I SEE YOU RIGHT THERE, READY TO GO. SOS TO THAT MEAN WHEN THE FAIR BOARD MEETS PRIOR, YOU KNOW, WHEN THEY’RE MAKING A RECOMMENDATION, THEY WOULD BE MAKING THAT RECOMMENDATION REGARDING THAT TEN ACRES PART OF THE COUNCIL RESOLUTION? IS THAT WHAT YOU’RE SAYING? I AM IS A H I’M NOT SURE I WAS REAL CLEAR ON THAT. THE COUNCIL RESOLUTION INCLUDE THE LANGUAGE ABOUT THE INTENTION TO PROVIDE THAT PLUS OR MINUS TEN ACRES FOR THE PRIVATE DEVELOPMENT BUT IT IS NOT A CONDITION OF THE FINANCING. IT’S A RECITAL CLAUSE. IT RECOGNIZES THE INTENTION FOR LET TO DO THAT, AND LET TO SUPPORT THE REZONING.>>I SEE. BECAUSE WHEN THE CONDITIONS OF THE RESOLUTION WERE OUT THERE, I DIDN’T SEE MENTION OF THE TEN ACRES, AND I’M JUST TRYING TO MAKE SURE THAT I UNDERSTAND WHAT YOU’RE ASKING OF EACH BODY.>>WE’RE MAKING — METRO IS MAKING A GOOD FAITH STATEMENT TO WORK WITH THEM FOR THAT IN THE FUTURE.>>SO I WANT TO PIVOT. THERE ARE NO MORE QUESTIONS OF YOU, MR. COOPER, MR. RIEBLING. THIS IS ABOUT THE USE. SO WE KNOW ON THERE WOULD BE 20 USE GAMES, AND 20 PUBLIC DAYS. AND I WAS WONDERING HOW THAT NUMBER CAME ABOUT. WE IN THE SPORTS AUTHORITY ASK A LOT ABOUT OUR FACILITIES AND PUBLIC USE. I DON’T KNOW IF WE’VE HAD LIKE A LIMIT BEFORE? I DON’T THINK THAT WE HAVE.>>WE HAVE IN THE OTHER FACILITIES.>>COULD YOU JUST MAYBE ADDRESS THE 20 AND THE AMOUNT OF DAYS.>>I THINK THAT IT’S THE SAME AS WE HAD IN FIRST TENNESSEE. I THINK THAT WE USE THE SAME NUMBER TO BE CONSISTENT WHERE THAT CAME FROM.>>AND OF COURSE, I WAS VERY INTERESTED IN PROMOTION EVER OF THE WOMEN’S SOCCER PROFESSIONAL TEAM AND WOULD AND INTERESTED TO MAKE SURE THAT ANY LONG-TERM LEASE WE HAVE WITH OPENER SHIP WOULD ENCOURAGE OR WOULD NOT IN ANY WAY PROHIBIT THE ABILITY OF BEING ABLE TO USE THE STADIUM FOR WOMEN’S TEAMS. I KNOW THAT IS SOMETHING THAT WOULD BE ADDRESSED WHEN THE LEASE COMES UP NEXT YEAR. IS THERE ANYTHING IN THE RESOLUTION? I DON’T THINK THAT THERE IS. I’VE SEEN SOMETHING ABOUT PROMOTING THE WOMEN’S GAME >>THERE IS A RECITAL CLAUSE. YOU WEREN’T DONE WITH MR. COOPER AFTER ALL.>>I WAS NOT.>>THERE’S A LANGUAGE, IN BOTH THE COUNCIL RESOLUTION AND THE RESOLUTION THAT THE SPORTS AUTHORITY WILL BE CONSIDERING, YOU’LL JUST READ IT TO YOU, IT SAYS THE ADDITION OF A MAJOR LADIES AND GENTLEMEN SOCCER FRANCHISE IN NASHVILLE WOULD INCREASE PUBLIC EXPOSURE TO SOCCER WHICH COULD RESULT IN AN INCREASED INTEREST AND PARTICIPATION IN WOMEN’S SOCCER AND ONE DAY LEAD TO A PROFESSIONAL WOMEN’S SOCCER TEAM IN NASHVILLE. I LIKE THAT LANGUAGE. SOME OF US ON THE SPORTS AUTHORITY LIKE THAT. SO THANK YOU, MR. COOPER.>>I DON’T HAVE ANY OTHER QUESTIONS.>>I HAVE A QUESTION ON THE TIMING. I REALIZE THAT WE’RE ALL TRYING TO WORKING TO HAVE THINGS BUT ONLIED UP, GET THAT BOX CHECKED FOR M.L.S.. SO THE SEQUENCE OF EVENTS THAT NEEDS TO OCCUR, HAVE THE COLLABORATIVE SPIRIT THAT WE NEED TO PRESENT.>>WE HAVE A MEETING TODAY AND NEXT WEEK. IS IT FAIR BOARD FIRST, FAIR BOARD LAST, HOW DO YOU SEE THIS ROLLING OUT?>>I THINK I KNOW THIS. I THINK THAT WHAT THE STRUCTURE WOULD BE. SO THE COUNCIL — IT’S ON THE COUNCIL’S AGENDA FOR CONSIDERATION. IT’S OCTOBER 17THTH MAYBE, OR 16TH.>>16TH OR 17, WHATEVER THE TUESDAY IS. SO WE BELIEVE THAT THE SPORTS AUTHORITY AND THE FAIR BOARD WOULD HAVE TO ACT PRIOR TO THAT DATE TO ADOPT THE RESOLUTIONS THAT MR. COOPER JUST DISCUSSED. SOMEWHAT MEMORIAL LICENSING THE INTENT OF THE RESOLUTIONS GOING FORWARD, AND SO THE COUNCIL — THE COUNCIL CAN THEN CHECK ITS BOX AT THE FAIR BOARD AND THE SPORTS AUTHORITY ARE GENERALLY ONBOARD BEFORE IT MAKES ITS — IT WOULD GIVE THE SPORTS AUTHORITY THE ABILITY TO ISSUE THE BONDS; IS THAT RIGHT, /JOHN?>>SO RIVER, TELL US, I’M CURIOUS HOW THIS PROPOSAL COMPARES NATIONALLY TO OTHER STADIUM BUILDS?>>THEY’RE ALL DIFFERENT, SO IT’S HARD TO EVER COMPARE TWO STADIUM DEALS. I THINK THAT THEY RANGED FROM ALMOST COMPLETELY TO A FEW THAT I THINK THAT ORLANDO WOULD BE ONE THAT SAYS IT’S ALL PRIVATELY FUNDED, THAT’S NOT NECESSARILY REALLY THE CASE. IF YOU DIVE INTO THE DETAILS, YOU WILL SEE THAT THERE WAS SOME PUBLIC PARTICIPATION IN THAT. RATHER THAN ANSWER YOUR QUESTION, WHAT I WOULD LIKE TO DO IS WORK WITH THE TEAM TO PUT TOGETHER SOME INFORMATION FOR YOU ON THE VARIOUS DEALS IN OTHER CITIES AND GET THAT TO YOU IN THE NEXT FEW DAYS. BECAUSE OTHERWISE, I’M SORT OF RAMBLING WITHOUT HAVING FACTS. SO LET ME TRY TO GET YOU SOME FACTS >>A COUPLE OF MORE QUESTIONS. AND THEN THE RESOLUTION FOR COUNCIL, IS THAT FILED TODAY OR IT WILL BE FILED.>>THE RESOLUTION WITH COUNCILUALS FILED YESTERDAY. IT WAS FILED IN PUBLIC, AND MR. COOPER WILL SEND THAT ALONG WITH THE RESOLUTION THAT WE WOULD BE ASKING THE SPORTS AUTHORITY TO ADOPT, AND THEN ULTIMATELY A RESOLUTION THAT WE WOULD BE ASKING THE FAIR BOARD TO ADOPT. IT IS GOOD TO SEE MR. COOPER HERE, I’M A STICKLER, ON PEOPLE INTRODUCING THEMSELVES, AND IT’S NICE TO SEE ANOTHER JOHN COOPER, AND IT’S NICE TO SEE YOUR PARTICIPATION TODAY AS WELL. MY QUESTION ON THE SEATS, I GUESS THE NUMBER OF 27,500, I WAS REALLY CURIOUS, I KNOW AT ONE POINT WE WERE TALKING EVEN LARGER. WOULD THE PROPOSAL THAT WE’RE LOOKING AT NOW, AS I RECALL THERE WAS A STANDING AREA, DOES THAT 275 INCLUDE THAT PORTION OF THE AREA OR IS THAT IN ADDITION TO. THE 27,500 INCLUDES THE WHOLE STADIUM. SO THERE’S ABOUT 19,500 IN THE LOWER BOWL, AND THAT INCLUDES GENERAL ADMISSION, THE PREMIUM SEATING, AND WHAT I NOW LEARNED IS REFERRED TO AS THE SAFE SUPPORTERS STANDING AREA, AND THEN THERE’S ABOUT 8,000 SEATS IN THE UPPER BOWL.>>GREAT, EXCELLENT. OKAY. I THINK THAT’S ALL MY QUESTIONS.>>GOOD MORNING. RICH, I HAVE A QUESTION ABOUT THE FINANCE, YOU MENTIONED THAT THE CREDIT WORTHY NECESSARY OF THE DEBT WOULD BE PLEDGED NONTAX REVENUE BONDS, WOULD THE NEW ISSUE THEN BE TAX FREE?>>LET ME SAY, THE PLEDGE THAT WE WOULD BE PUTTING ON THIS IS SIMILAR TO WHAT THE CITY HAS . SO THERE’S NOTHING NEW TO THAT. BECAUSE OF THE PREDOMINANCE OF PRIVATE PAYMENTS TO THE LEASE STRUCTURE, THE MAJORITY OF THE BONDS WOULD PROBABLY HAVE TO BE ISSUED ON A TAXABLE BASIS. THE PORTION THAT COULD BE ATTRIBUTABLE TO THE SALES TAX REDIRECT, BECAUSE THAT’S A TAX OF GENERAL APPLICATION, MR. BLUE: B MR. BL BLAH, BLAH, BLAH, IT WOULD BE MORE TAXABLE THAN TAX EXEMPT.>>GOING BACK TO THE 20 PUBLIC DAYS, DO THOSE DAYS INCLUDE DAYS THAT THE FAIRGROUNDS COULD AS THE FACILITY?>>NO IT WOULD NOT INCLUDING THE THE FAIRGROUNDS DAYS. NO SCHEDULING HAS TO BE WORKED OUT TO MAKE IT WORK. BUT THE IDEA IS THAT THE FAIRGROUNDS WOULD HAVE AS OF THE FACILITIES, UNHAMPERED. IF THERE ARE COSTS ASSOCIATED WITH IT, THEY WOULD OBVIOUS WILL I HAVE TO MAKE ALLOWANCE FOR THAT. BUT THE FAIR ACTIVITIES. FLEE MARKETS WOULD NOT COUNT TOWARDS THE 20 CIVIC DAYS >>I WOULD LIKE TO ASK ABOUT CONTINGENCY PLANS WITH M.L.S.. AS I UNDERSTAND IT, THERE’S TWO ROUNDS OF SELECTIONS, CORRECT? THERE WILL BE TWO CITIES NAMED IN THE SHORT ORDER, AND THEN ANOTHER TWO NEXT YEAR. WHAT IF WE DON’T GET THE –>>NOTHING HAPPENS >>SELECTED?>>WE KEEP OUR HAT IN RING FOR THE FUTURE. I WOULD HAVE TO DEFER.>>IF- MY CONCERN HONESTLY IS THAT THIS IS OUR BEST MOMENT IN TIME. I THINK THAT BY NEXT YEAR WE MAY BE QUITE CONSUMED IN THIS CITY WITH TRANSIT AND SOME OTHER THINGS. WE COULD THEORETICALLY STILL BE A POSSIBILITY. BUT THE OTHER TEAMS DO NOT, OF — ARE NOT AWARDED, THE OTHER CITIES THAT ARE NOT AWARD THIS HAD TIME CAN CONTINUE TO WORK ON THEIR PLANS AS WELL AS THERE’S NOTHING THAT SAYS OTHER CITIES CAN’T JOIN THE FRAY, AND I THINK THAT THEY WILL. IT’S IN A CERTAIN SENSE LIKE A CONFLUENCE OF OPPORTUNITY THAT HAS COME. IT’S MADE A COME PRPRESSED TIM OPPORTUNITY, AND THIS IS PRESENTING THE TIME TO GET INTO, IN A KNOWABLE FUTURE. IS THAT WHAT YOUR QUESTION WAS?>>THANK YOU.>>LET ME FOLLOW UP ON THAT, RICH. MY UNDERSTANDING WAS THAT TWO CITIES ARE GOING TO BE AWARDED IN DECEMBER. AND IF NASHVILLE IS NOT ONE OF THOSE CITIES, THEN ALL OF THIS IS MOOT, RIGHT?>>NOTHING GOES FORWARD. WE DON’T START CONSTRUCTION, OR ANYTHIG LIKE THAT. WE DON’T ISSUE ANY BONDS OR ANYTHING LIKE THAT. WE HAVE THE AGREEMENTS IN PLACE, AND WE PROBABLY HAVE TO DUST THEM OFF AND TIDY THEM OFF, IF WE’RE GOING TOBATE UNTIL THE NEXT ROUND.>>AND I UNDERSTAND THAT TWO OTHER CITIES ARE GOING TO BE AWARDED BY THE MIDDLE OF NEXT YEAR; IS THAT RIGHT?>>I DON’T KNOW THE TIME SCHEDULE. SOMETIME NEXT YEAR, I BELIEVE.>>M.L.S. HAS SAID THAT THEIR CURRENT THINKING IS TO AWARD TWO TEAMS IN DECEMBER THAT WOULD START PLAY IN 2020, MARCH OF 2020, AND THEN THEY WOULD AWARD TWO OTHER TEAMS EITHER IN LATE 2018, POSSIBLY 2019 THAT WOULD START PLAY IN 2022. THERE’S NOTHING THAT SAYS THAT THEY COULDN’T MODIFY THAT SCHEDULE.>>RIGHT. SO MY THINKING WOULD BE IF WE GO THROUGH ALL OF THIS NOW, AND NASHVILLE IS NOT AWARDED ONE IN DECEMBER, WHY NOT JUST PROCEED LIKE YOU’RE GOING TO BE IN THE NEXT GROUP.>>THERE WOULD BE NOTHING TO PRECLUDE US TO DO THAT IF WE CHOSE TO DO SO.>>OKAY, THANK YOU.>>THANK YOU. IT WOULD BE A MATTER OF HOW MUCH DOES EVERYBODY WANT TO SPEND ON THE RISK OF THAT. WE SORT OF ADDRESSED THAT. I’D SAY >>WE WANT TO MAKE OUR BEST SHOT NOW. WE’RE TRYING TO GET EVERYTHING IN PLACE TO SEE IF WE CAN’T GET IT IN DECEMBER. IF THAT DOESN’T HAPPEN, THEN OBVIOUS WILL I SORT OF REASSESS WHERE WE WANT TO GO WITH IT, BUT THE AGREEMENTS WOULD BE IN PLACE.>>OKAY.>>. CAN YOU TELL US, MONICA AND LAURA, WHAT ARE THE NEXT STEPS ON WHEN WE WOULD MEET AGAIN, FOR EACH OF OUR BODIES?>>REGARDING THE FAIR BOARD, OUR NEXT REGULAR SCHEDULED MEETING. WHILE WE DO HAVE A SPECIAL MEETING TONIGHT, BUT WE DO HAVE A MEETING TUESDAY MORNING OCTOBER 10TH AT 8:00 A.M., WHICH THIS ITEM IS CURRENTLY ON THE AGENDA. AND THEN THE SPORTS AUTHORITY WILL MEET NEXT THURSDAY THE 12, AND THE FINANCE COMMITTEE WILL MEET FIRST LOOKING AT 9 O’CLOCK, AND THEN WE WILL FOLLOW WITH A SPECIAL CALLED MEETING AT THE FAIR BOARD.>>KIM, I JUST WANT TO SAY THAT THE FINANCE COMMITTEE IS NOT TAKING UP THE M.L.S. MATTER. THAT WILL BE BEFORE THE FULL BOARD. BUT WE HAVE SOME OTHER THINGS THAT WE’RE TAKING UP. EVERYBODY IS INVITED TO COME AT NINE. WE DON’T KNOW IF WE WILL TAKE THAT LONG OR NOT. DO YOU HAVE ANY SENSE OF HOW LONG OUR MEETING WILL BE.>>IT SHOULD NOT BE A LONG MEETING >>ONE LAST THING, THANK YOU WENT $5 MILLION FOR THE FAIRGROUNDS PROMPT, IS THAT NUMBER TO COVER THE STARING DOWN AND MATCHING OF THESE FACILITIES. REMEMBER YOU ALREADY HAVE THE 12 MILLION, THE 12 FROM THE FAIR GROUND REPRESENT OVATIONS PLUS THE 25 GIVES 30 SEVENISH, GIVE OR TAKE A LITTLE BIT OF IT. IT’S SORT OF LIKE A PROJECT, WE DON’T HAVE IT APPLIED OUT YET. THAT WILL GO A LONG WAY TO PROVIDING MORE THAN AMPLE REPLACEABILITY AS WE HAVE TODAY. AND OBVIOUSLY AS WE DID I GO INTO THE DETAILS WE WILL SORT OF REASSESS THAT. I THINK THAT FROM TALKING WITH THE SORT OF THE CONSULTANTS WORKING ON THE CONSTRUCTION PLAN, ALONG WITH LAURA.>>ANYBODY ELSE WITH QUESTIONS OTHER COMMENTS? OF.>>LET ME SAY SOMETHING IN CLOSING. THANK YOU VERY MUCH FOR YOUR WILLINGNESS TO COME TOGETHER TO HEAR THIS. IT’S EASIER TO DO IT AT ONE TIME, RATHER THAN HAVE TO DO IT TWICE. AND OBVIOUS I BOTH BOARDS ARE INTEGRAL TO THIS PROJECT MOVING FORWARD. SO ON BEHALF OF THE MAYOR, AND EVERYONE I JUST WANT TO SAY THANK YOU FOR YOUR ATTENTION TO THIS, AND TO APPRECIATE AS ALWAYS YOUR CONSIDERATION AND SUPPORT.>>I NOVEMBER THAT WE STILL HAVE QUESTIONS, AND SUBSEQUENT MEETINGS. WE HAVE A PUBLIC MEETING THE FAIR BOARD DOES IN THIS ROOM, 6 O’CLOCK, START TIME. APPRECIATE ALL OF THE EFFORT AND THE LOVE OF NASHVILLE. IT’S OBVIOUSLY GONE INTO THIS, AND GREAT EXPENSE, AND A LOT OF TEAM WORK. IT’S OBVIOUS INCLUDING CITY AND LOTS OF PRIVATE CITIZENS THAT JOINED YOUR EFFORT AND YOU’VE RALLIED THE TROOPS IN GOOD ORDER, AND WE HOPE THAT THIS ALL COMES TOGETHER TO THE BENEFIT OF THE ENTIRE CITY. I THINK THAT WE’RE WRAPPING UP HERE. I DON’T KNOW IF ANYBODY ELSE HAS ANY COMMENTS OR QUESTIONS IF WE NEED TO HAVE A MOTION TO ADJOURN?>>MOTION TO ADJOURN.>>SECOND.>>ANY DISCUSSION ON THAT?>>IF NOT, ALL IN FAVOR?>>AYE. OPPOSED? MEETING IS ADJOURNED, THANK YOU EVERYBODY.>>[ MUSIC PLAYING ]. ♪ ♪ ♪ ♪ THIS HAS BEEN A SERVICE OF THE METRO NASHVILLE NETWORK. IF YOU WOULD LIKE TO SEE THIS PRESENTATION AGAIN OR FOR MORE INFORMATION ABOUT THIS AND OTHER PROGRAMS, VISIT NASHVILLE.GOV.

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