The South Broad Stadium Project represents a critical juncture in Chattanooga’s story.
The City Council and Hamilton County Commission face a simple, but crucial vote: Will they accept the private sector’s additional $40 million of “skin in the game” to build the South Broad stadium and revitalize the South Broad District?
The answer should be easy, because the math works. This project won’t reduce funding we have available for public priorities. It will inject revenue into the public coffers. A yes vote means we can conservatively expect the South Broad District to attract $1.1 billion in development, generating $2.3 billion in economic impact. We can expect $186 million in new tax revenue for Hamilton County schools, via new property tax and local-option sales tax revenue. And we can expect $102 million in new revenue to be split between the city and county for other priorities.
These aren’t my numbers; they come directly from the economic impact study conducted by Younger and Associates and based on the developer’s projections. Younger and Associates is the premier economic analysis firm used across Tennessee to study similar projects. The city and county look to Younger for advice on TIF districts, including The Bend. They are experts who understand our local and regional economy, and no serious person can dismiss their findings.
A yes vote means the Lookouts will continue to attract regional tourist dollars for our local economy. The Riverwalk, one of our city’s greatest assets, will continue its growth by acting as the “front door” to the stadium. The development itself will be a new “front door” for Chattanooga, transforming the view from I-24. The South Broad District, Howard High School and other pillars of the Southside community also will receive long-overdue investment.