A major vote on a proposed Clarksville, TN arena is set for next month, when Mongtomery County officials consider a resolution to finance construction and design of the venue.
Billed as the Clarksville Multi-Purpose Events Center (MPEC), the new arena would be located in downtown Clarksville. It would be designed to accommodate basketball and hockey, along with a variety of other events.
At a meeting next month, Montgomery County Commissioners will consider a resolution to finance the design and construction of the venue. A $130.7 million bond issue for the project cleared committee on Tuesday, a step toward next month’s decision. More from The Leaf-Chronicle:
While the spending cap for this sports-and-entertainment-oriented facility has been quoted often by County Mayor Jim Durrett at $105 million, including the property which is already purchased, the November resolution for approval of general obligation bonds leaves considerably more spending room to cover what Durrett calls “worst-case scenario” indebtedness.
The total amount that commissioners will consider for the bond issue is $130.7 million. The measure passed through the county Budget Committee Tuesday afternoon.
Durrett continues to maintain that his pre-identified-and-calculated designated revenue streams will easily cover the cost of the MPEC without burdening Montgomery County property taxpayers.
Those revenue streams are mostly exclusive to the MPEC and couldn’t be generated or used elsewhere, he emphasizes, and include a new funding source — internet sales taxes in Montgomery County.
Last week, county officials voted to approve the creation of a new sports authority to oversee the venue. The NHL’s Nashville Predators have shown interest in managing the arena, and the newly created sports authority could play a role in negotiating an agreement with the team. Austin Peay State University could also factor into the project, as the venue has been floated as a potential home for its men’s and women’s basketball programs.
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