Convention Center Easily Passes Council Committees

Thursday night Metro Council committees approved borrowing as much as $650 million to build a new downtown convention center.

The Convention and Tourism committee voted unanimously. The Budget and Finance panel had one no vote.

Most of the discussion during deliberation came from non-committee members like Mike Jameson. The councilman has been critical of a feasibility study done by HVS Consulting on which the city has based its revenue projections that will pay for the debt. Jameson pointed out a study from Houston done by the consultant in which a projected 1,725,394 visitors will be added by building a new convention center.

JAMESON: “That identical number appears for Georgia International, for New Orleans, for Chicago, for San Diego, for St. Louis, for Kansas City, for Indianapolis, doesn’t it.”

HVS: “It appears to.”

Even those who voted for the convention center stated they have some reservations about the projections, including Councilman Charlie Tygard. But he says he doesn’t have to have rock-solid numbers to know building the convention center is the right way to go.

“I’ve got a gut feeling that five, 10 years from now, if we don’t build this center, our seniors, our citizens of Nashville will be worse off.”

The one no-vote came from Michael Craddock, who says he’d like to vote for a convention center but can’t right now.

“This is about the budget that’s about to face us, because it’s going to be bloody, and we are foolish if we don’t look ahead six months.”

$14 million of hotel/motel taxes have been plugging a hole in the Metro budget for the past few years, paying for bus service and police overtime among other items. That money would be diverted if the convention center is ultimately approved Tuesday.

Metro Finance director Rich Riebeling previously indicated he would lay out a plan for how to make up that revenue as part of the convention center finance package. Last night, he apologized for the misunderstanding and said the plan for making up the $14 million would be part of the administration’s budget proposal later this spring.