The Convention Center Authority has voted unanimously to enter into an MOU (PILOT Agreement) with Metro.
“Nashville’s unprecedented growth in convention bookings has allowed the MCC to enter into this agreement with the city,” said Charles Starks, President/CEO of Music City Center.
“The annual PILOT payment provided to Metro demonstrates the value of the hospitality and tourism industry as we strive to be a strong city partner and benefit the residents of Davidson County.”
Metro has received $10 million for two consecutive years from MCC. With the additional payment of $12.6 million, the city will receive a total of $22.6 million from MCC for this year’s fiscal budget.
The PILOT amount could increase if there is a change in tax rates, if the building appraisal amount increases or if an expansion occurs.
Additionally, the CCA announced that MCC generated $37,963,606 million in direct economic impact for the city during the month of September, hosting 32 events with 31,927 attendees and generating 34,898 room nights.
For the month of October, the MCC generated $28,633,190 million in direct economic impact, hosting 38 events with 50,856 attendees and generating 28,690 room nights.