Chattanooga Stadium Board Meeting – October 9, 2025
Chattanooga Stadium Board Meeting – October 9, 2025
This meeting of the stadium board covered approval of previous minutes, a financial progress report, a construction update from the public works department, and a routine state filing. No public comments were made, and all actions were unanimous.
Consent Calendar
- The board unanimously approved the minutes from the August 14, 2025 meeting.
Public Comments & Testimony
- No members of the public spoke.
Discussion Items
- Financial Progress Report for September 2025: Josh McCach, filling in for Mr. Boylan, presented the updated financial report. He noted the balance sheet and income statement have been separated, and debt service payments will be included in future reports. Key figures: Construction in progress (CIP) increased from $26 million to $36 million, reflecting stadium asset growth. For the $115 million stadium budget, $42 million has been spent, $43 million is tied up in purchase orders, leaving $28 million unspent (about 26% remaining). For the West 26th Street public infrastructure (stormwater, sewer), 58% of the $10 million budget has been used, with $4.2 million remaining. Board member Patten asked about project schedule; McCach said he could follow up but believed the project is on track based on spending and encumbrances.
- September Progress Report by Public Works: City Engineer Bill Payne provided a construction update with photographs from late September. Key updates: powerhouse extension roof installed; rough-in work for mechanical, electrical, and plumbing trades underway; finish-level work beginning at the third base building; demolition for the team store started; storefront glass installed at the batter's eye club; all light poles installed. Concourse flatwork has been largely completed since the photos were taken. Payne presented a budget tracking chart showing actual cash flow slightly below the EMJ guaranteed maximum price contract, partly because some allowances came in lower than expected, providing flexibility. He noted the budget remains tight but the team feels comfortable. He also presented infrastructure spending breakdown: most stormwater funds spent, wastewater payments upcoming, roadway construction about to start, and remaining balances in site preparation and team supplied equipment.
Key Outcomes
- Unanimous Approval: The board voted unanimously to approve the minutes of August 14, 2025.
- Other Business: The board accepted the executed Form 8283 (non-cash charitable contributions) for Pipe Properties Records, as required by state law. No vote was recorded but the item was acknowledged and filed.
- No Further Action: The meeting adjourned after a final call for additional business; none was raised.
Meeting Transcript
Morning. Morning. Morning. Um, I guess we'll start with the approval of minutes for August 14th, 2025. So we'll say. All in favor? Hi. Any opposed? Uh moving on to public comments. We'll take a moment here if there's any uh anyone would like to say anything. Okay. Move on to presentation of financial progress report for September 2025, budget by finance, and September progress report by public works. Uh good morning. Uh my name is Josh McCach and I'm filling in for Mr. Boylan who's at the beach this week. Um, so I'm joining a little time off. Uh if we can pull up the report. So this is our ever changing, evolving uh financial progress report. Um couple things different than last time. We've kind of separated the balance sheet from the income statement and also put a section for debt service payments once we start, you know, rolling those in, you'll start seeing more and more uh there. Um not much to really talk about the big big change from the last report to this one. Uh CIP costs or your construction in progress went from twenty-six million to about thirty-six million. So that's good to see that number continue to rise showing we're building an asset over there. Um with the stadium. So does anybody have any questions on this report? We've still got more money. Yes, sir. Okay, good. Uh and if we can we can roll to the next one. I'm gonna hand out an updated version of this. This is we had some redo the next one, yeah. So I want y'all to ignore the one on the screen. Can I pass these out one? Uh we had some reporting issues pulling numbers from the wrong places and some incorrect formulas on the one here. Uh the one that uh Miss Manila's handing out. Um is up to date as of September. So basically what this shows uh and we condense these down. I know last time you had the stadium broken out into like four different pieces. We didn't have those available this time, but so we've just kind of high level what we're at with the one hundred fifteen million dollar budget. We've spent a little over forty-two million, and then you have another forty-three or so um tied up in purchase orders that are unspent. So remaining balance sixty-six million. Or wait, hang on. Remaining balance of 28 million. So with PO with you know with open POs and the actual costs, you've used about 75% of that total budget. And then same thing down with the public infrastructure. That's the West 26th Street stuff with the stormwater sewer. I think Hotel Motel was the other funding source. Given you prior to as well. So 58% of those, about 4.2 million remaining, you'd use about 58% of your 10 million dollar budget in those costs. Any questions about that?
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