Sports authority gets on base
In December 2020, the Knoxville City and Knox County Commission voted to approve the formation of a sports authority to oversee construction and operation of a baseball stadium.
A sports authority, the members of which typically are appointed, is a quasi-government body that oversees the project. By law, local governments can create a sports authority, which can issue revenue bonds to pay for stadium construction. The debt belongs to the sports authority – which means it stays off the books of the city and county.
Also by law, state sales tax generated by the facility – 7% on tickets, concessions and merchandise – would go to the City of Knoxville and Knox County to pay off debt to construct the stadium.
The next steps are razing the old site – which is an eyesore and will be done no matter what happens – holding public meetings and voting on the financing plan. If all goes well, a ground-breaking could be held in late summer or early fall.
A lineup full of details remains to be done, so there is a long way to go to get baseball home. But Grand Slam Knox got on base!
Of course, we celebrated on Twitter.