Grand Ole Opry House To Receive Millions In Tax Help
July 9, 2010 at 8:44 AM (PT)
NASHVILLE Mayor KARL DEAN has marked $1.2 million per year for the next fifteen years to help return tourism taxes to GAYLORD ENTERTAINMENT and to help the company restore the flood-damaged GRAND OLE OPRY HOUSE. The legislation is expected to be filed TODAY (7/9) and will require the approval of METRO COUNCIL.
The funds will not come from a new tax, but rather from hotel/motel tax money originally earmarked for GAYLORD's OPRYLAND CONVENTION CENTER AND HOTEL expansion project. That project was put on hold before the recent flooding.
Since the flooding, the GRAND OLE OPRY has continued at other venues in NASHVILLE. The goal is for the OPRY HOUSE to reopen in OCTOBER.
DEAN said: "The thing we're doing here is we're helping with the recovery of a building that is vital to NASHVILLE.”
Restoration of the OPRY HOUSE is expected to cost about $20 million, according to the TENNESSEAN. The total cost of flood recovery efforts for GAYLORD is expected to reach nearly $170 million.
See full details of the plans here.