Legislation to create a special authority to oversee the 130-acre East Bank area in Nashville is close to completion, despite some delays and concerns from lawmakers. The bill, sponsored by Sen. Charlane Oliver in the Senate and John Crawford in the House, aims to establish the East Bank Authority. The Authority would oversee development in the area surrounding the Titans stadium, with potential for involvement in projects such as renovations at Bristol Motor Speedway.
One of the major concerns surrounding the bill is the potential for abuse of eminent domain, but lawmakers have addressed this issue with an amendment to the bill. Additionally, there are discussions around the composition of the Authority and the involvement of state-appointed members. The bill is also entangled in negotiations with Speedway Motorsports, as well as ongoing discussions about bringing NASCAR to Nashville.
Despite these challenges, lawmakers are optimistic that the bill will pass, with the aim of streamlining government processes and ensuring efficient development in the area. The proposed East Bank Authority would not have the power of eminent domain, as that authority rests with other entities like the Metropolitan Development and Housing Agency. The bill is seen as a way to ensure responsible development and secure tax revenue for the area.
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