NASHVILLE, TN (WSMV) -- Mayor John Cooper announced this morning that the Music City Center, Nashville convention center, will start making payments in lieu of taxes.
The amount this year will be $12.6 million.
This money can be used for raises and other general city purposes because it is not money that will be taken from tourism money.
This is in addition to 10 million that the music city center has already been paying to Metro. Councilmember Bob Mendes said the 12.6 million will help but will not fill the hole in the Metro budget.
As a governmental agency, the music city center does not pay property taxes like commercial and residential properties do, however it is common for authorities such as NES to make payments in lieu of taxes.