NASHVILLE, Tenn. (WZTV) — As Nashville continues to grow, city leaders are looking at new ways to pay for future development without taking on entirely new financial obligations.
One proposal headed to the Metro Council next week would allow the city to refinance the debt from when Music City Center was built, a move the O’Connell administration says could improve the city’s financial position while supporting future growth.
When Music City Center opened in 2013, bonds were issued to help finance its construction. According to Metro documents, the outstanding principal on that debt is now just under $483 million.
The proposal would allow the Convention Center Authority to refinance those bonds — similar to a homeowner refinancing a…