The MCC will be funded primarily by visitors-
The revenue streams dedicated to pay for funding of the MCC are aimed at taxing visitors: fees on rental cars leaving the airport; fees on hotel room nights; additional allocation from existing hotel tax revenue; and eventually, a portion of the sales growth in the main area around the convention center after it is opened. The finance projections are extremely conservative. They consider a 10-year sales history of the NCVB, which includes two of the worst sales years ever – the year Opryland closed and the year after 9/11.

This funding mechanism proposed for the MCC is the same method that successfully paid for the existing center-
The only difference between the existing convention center project and the MCC - we only believed the demand existed in the mid-1980’s… with the MCC we know it is there.

The MCC project is supported solidly by the hospitality industry
The industry has been a long-term advocate for this building, as they see the daily affects of money being left on the table as groups state they want to come, but can’t due to the size and lack of functionality of the current building. The industry has advocated taxing themselves in order to provide the dedicated revenue streams.

No property taxes will be used to pay for this building-
It has always been the intention from the city and project advocates that property taxes should not be considered as a source for funding for this project. The city even amended its legislation at the state level to directly prohibit any property taxes to be used for this building at any time.

Demand for this building has exceeded expectations-
The NCVB was asked to begin pre-selling the building a year ago, and created an initial goal to pre-sell 100,000 room nights prior to groundbreaking. That goal has already been exceeded, as the bookings to date boast more than 130,000 room nights, with many more groups in the pipeline.- Many of those groups are making decisions to sign final letters of commitment based on this next council approval.

This project has been properly and extensively vetted-
The project concept began over 10 years ago. Discussions and studies have occurred over that time, including three mayoral administrations and two council bodies. Every feasibility study that has been conducted on this project has concluded that the project is viable, as the demand exists and the revenue streams to pay for it are solid.