Tuesday, November 3, 2009

Early Indications on Music City Center Financing

Posted By on Tue, Nov 3, 2009 at 12:59 PM

click to enlarge bondmarket.jpg
If all the existing and prospective taxes are going to pay for the convention center, how will the hotel be funded? At the meeting in September, Goldman all but ruled out private capital. The most skin Marriott/Phelps Portman appears willing to put in the game is about $10 million in "key money." Is the plan to get Nashville pregnant with a convention center so we have to approve a hotel that is supported mostly or entirely by the general fund?
Here's a link (pdf) to the Goldman Sachs document. City officials have not as far as we can tell made it available themselves online. The new Authority has a web page, but with no minutes or documents posted. (So much for transparency.)

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