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Convention Center Authority Grants MOU Extension
CONVENTION CENTER AUTHORITY GRANTS MOU EXTENSION
FOR IMMEDIATE RELEASE
February 9, 2015
NASHVILLE, Tenn. - The Convention Center Authority voted this afternoon to grant Spectrum/Emery Development, LLC an extension on the memorandum of understanding and extend the exclusivity agreement until March 31, 2015. The memorandum of understanding naming Spectrum/Emery as the master developer of the Nashville Convention Center site was entered into on January 9, 2014.
"Spectrum/Emery is working diligently on finalizing a very complex transaction," said Charles Starks, President/CEO of the Music City Center. "We are very confident that they are close to reaching a final agreement so it just makes sense to extend the deadline in order to make sure everything is done correctly."
The Authority also announced last month's numbers for the Music City Center. During the month of January, the Music City Center hosted 14 events with 47,098 attendees, generating 14,525 room nights for a total of $31.9 million in economic impact. To date, the Music City Center has generated over $125 million during fiscal year 2015. Tax collections continue to outperform projections and the Music City Center portion of tax collections was up 33.77 percent year over year for November 2014.