A resolution requesting the Mayor and the Director of Finance to take the action necessary to renegotiate contracts for the maintenance and operation of the Gaylord Entertainment Center and the Coliseum to obtain terms that are more favorable to the Metropolitan Government.

WHEREAS, the Metropolitan Government is the owner of both the Gaylord Entertainment Center and the football coliseum; and

WHEREAS, both of these facilities were constructed through debt issued by the Metropolitan Government and backed by the full faith and credit of the Metropolitan Government, which requires millions of dollars in annual debt service payments; and

WHEREAS, the Metropolitan Sports Authority is currently under a contract with Powers Management, LLC, for the operation and management of the Gaylord Entertainment Center, which is home to the Nashville Predators hockey team and the Nashville Kats arena football team; and

WHEREAS, the agreement with Powers Management, LLC, requires Metro to pay a monthly management fee to compensate Powers for operating and managing the arena; and

WHEREAS, in addition to the management fee, the Sports Authority is required to cover the operating expenses for the area and to fund capital projects, such as a new scoreboard and control room for the benefit of the Nashville Predators; and

WHEREAS, the Metropolitan Sports Authority has a lease agreement with Cumberland Stadium, Inc., for lease of the coliseum for the benefit of the Tennessee Titans NFL football team; and

WHEREAS, as in the case of the arena, the Metropolitan Government is required to pay certain operating expenses for the coliseum and must make annual contributions to a capital fund, while the Titans receive all revenues from the coliseum events, including ticket sales, concessions, and naming rights; and

WHEREAS, all Metropolitan Government departments were required to identify ten percent cuts in preparation of next fiscal year's budget; and

WHEREAS, in an effort to relieve the taxpayers of Nashville and Davidson County from the burden of supporting sports venues that are largely used by out-of-county residents, it is fitting and proper that the coliseum and arena contracts be renegotiated.

NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. That the Metropolitan County Council hereby goes on record as requesting the Mayor and the Director of Finance to take the action necessary to renegotiate contracts for the maintenance and operation of the Gaylord Entertainment Center and the Coliseum to obtain terms that are more favorable to the Metropolitan Government.

Section 2. The Metropolitan Clerk is directed to send a copy of this Resolution to Mayor Bill Purcell and to Director of Finance David Manning.

Section 3. That the Mayor and the Director of Finance are further requested to respond to the Council as to the feasibility of and/or action taken in compliance with the request stated in Section 1 hereof not later than sixty (60) days from the date of adoption of this Resolution.

Section 4. That this Resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Brenda Gilmore