Chattanooga Mayor Tim Kelly is seeking $20.8 million in state money for a new multi-use stadium that the Chattanooga Lookouts minor league baseball team would primarily use.
The mayor, in a letter this month to Gov. Bill Lee, said $7.3 million of the funds would go to environmentally clean up the proposed site on the former U.S. Pipe/Wheland Foundry tract in the city’s South Broad District.
“Chattanooga has the opportunity for a transformational community project,” he said, adding the stadium could help redevelop the 141-acre site and bring in $1.5 billion in private development.
Also, Kelly in the letter asked the governor’s support for legislation related to the use of sales taxes generated at the new stadium. The idea is to use proceeds from the sales tax to pay off bonds, which could be issued to support the project, officials said.
“The city and the county are negotiating to fund a new stadium that will be used by the Lookouts and for many other events throughout the year,” the mayor said.