Members of the Chattanooga City Council and the Hamilton County Commission will have their first opportunity in an open forum Thursday to ask developers and team owners about the new cost for the Lookouts stadium, which has ballooned from an estimated $79.5 million to as much as $129 million.
The city and county are supporting the construction of a new multiuse stadium for the Chattanooga Lookouts on the blighted Wheland Foundry/U.S. Pipe property in the South Broad District, a plan first announced June 30, 2022.
Commission Chair Jeff Eversole, R-Ooltewah, asked for the meeting, which will start at 5 p.m. in the conference room at the Chattanooga Area Chamber of Commerce’s downtown offices, 811 Broad St.
(READ MORE: Chattanooga Lookouts stadium cost jumps to $120 million)
At stake? Another vote from both panels about whether they want to use new property tax revenue generated in a tax district around the stadium to plug the roughly $40 million gap in the stadium project. The team owner, Hardball Capital, and the land owner, Perimeter Properties, have offered to take out a $40 million loan to be repaid by those tax revenues.