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Convention Center Authority Approves Additional $10 Million to Metro
NASHVILLE, Tenn. – The Convention Center Authority voted unanimously this morning to provide Metro with a one-time additional amount of $10 million in funding for Fiscal Year 2020.
“The Authority last year approved $10 million toward Metro conventioneer related expenses as part of our effort to be good community citizens,” said Charles Starks, President/CEO of Music City Center. “The additional one-time amount of $10 million brings the total to $20 million we have provided to Metro.”
In other action, the CCA agreed to purchase a third tract of land located at 705 4th Avenue South. This along with the two previous purchases now gives the Authority approximately 1.75 acres along Lafayette between 4th and 5th Avenue South. In the short-term the land will be utilized as a marshalling yard and additional parking for the MCC. The long-term goal is for the Metro Transit Authority to utilize the site for an additional transit hub on the south side of downtown.
The CCA also voted unanimously this morning to approve the 2020 fiscal year operating and capital budgets. The capital budget of approximately $17 million will include several upgrades to existing facilities including replacement of some furniture and fixtures within the MCC. “I am very proud our board understands the financial commitment needed to keep the MCC updated for our customers,” said Starks.
Furthermore, the CCA announced that MCC generated $43,742,361 million in direct economic for the city during the month of February, hosting 16 events with 54,259 attendees and generating 23,973 room nights.