Strings attached to latest Nashville Convention Authority payment to Metro
NASHVILLE, Tenn. (Mike Osborne) -- Nashville’s Convention Center Authority has chipped in to help Metro close its widening budget gap, but there are strings attached.
The Authority Thursday approved a one-time 40 million dollar payment to the city. The funds are restricted to covering expenses related specifically to Metro’s pandemic hobbled tourism industry.
Nashville was already having budget troubles. The State Comptroller recently demanded the city get its finances in order.
During this year's State of the City speech, Mayor John Cooper warned the city is expecting the pandemic to cause a $200 million to $300 million shortfall in tax revenues.