Metro Councilmember O’Connell proposes taxpayer protections as Council votes on Titans funding terms

Metro Nashville Council Member Freddie O’Connell is proposing an amendment to legislation approving a $4 billion financial framework for a new Tennessee Titans stadium that will include a slate of taxpayer protection measures. 

O’Connell, who is running for Nashville Mayor, announced his plan on Tuesday prior to Metro Council’s vote at the night meeting. 

“Without these or similar protections, I’m concerned we’re just transferring a large current liability into a new liability with a dome,” said O’Connell. “While this has been presented as a stadium proposal, it’s also a proposal for extraordinary taxpayer commitments for future capital repairs and infrastructure.”

Metro Council’s approval of the financial term sheet being offered by MayorJohn Cooper would make the new stadium the most expensive National Football League stadium financed by public money. 

The Council’s finance committee approved the term sheet Monday by a vote of 11-2.

O’Connell said his intent is to  bring about negotiations with the Titans that are more in line with those conducted by the city and both the Nashville Predators, the city’s National Hockey League team, and Nashville Soccer Club. 

The Titans’ plan has received scrutiny from Metro Council members who question the proposed costs. At issue is the discrepancy between what Titans executives estimate costs would be to renovate the current Nissan Stadium, which opened in 1999, and the costs to build a new, covered stadium. 

“This conversation is not an emergency, despite the mayor’s office wanting us to believe it is. The emergency is Nashville’s cost of living and quality of life, and I’m eager to return to focusing on those issues.”

This is a developing story. Check back for updates.