Chattanooga Sports Authority Meeting – February 12, 2026
Chattanooga Sports Authority Meeting – February 12, 2026
The Chattanooga Sports Authority met on February 12, 2026, to review financial reports, construction progress on the new stadium, a resolution for remaining project funds, and a public art update. The meeting included approvals, financial updates, a construction briefing, and a discussion on incorporating African American history into public art.
Consent Calendar
- Minutes from the December 11, 2025 meeting were approved unanimously.
Financial Reports & Budget Presentation
- Liabilities reported at $96 million, largely from bonds. Retainage noted at $2.5 million, expected to decrease as construction nears completion.
- Income statement showed approximately $3.7 million in interest earned from bonds, and a TIF payment of $506,000 received from the Industrial Development Board.
- Budget presentation: Stadium budget of $115 million, with 76% of the budget complete as of January 2026. Public infrastructure (West 26th Street) budget of $10 million, with 64% complete. Overall project 76% complete; completion estimated spring 2026, with first pitch on April 14, 2026.
- Staff indicated optimism that the project will stay within budget.
Public Comments & Testimony
- No public comments were made outside of discussion items.
Discussion Items
- Construction Update (Clay Oliver, Chattanooga Public Works): Provided details on field installation (sod started, ribbon boards installed, permanent power switched, team store installation underway, elevator completed in pattern shop, temporary certificate of occupancy obtained for team offices). Public infrastructure work includes river walk concrete, rubble gardens, and curb/gutter on West 26th Street and Pipe Way. Paving will occur closer to opening day. Financially, 76% complete; team supplied items: $15.3 million in request notices, $5.1 million drawn, $3.6 million remaining for end-of-project items. Punch list work will continue after opening day.
- Resolution 6a – Remaining Stadium Funds: A resolution authorizing the city engineer to direct the remaining $307,486.33 of unencumbered stadium budget for final expenditures, with a report back after project closeout. Approved unanimously after discussion about flexibility and oversight.
- Public Art Presentation (Kate Kearney, Manager of Public Art): Overview of the public art process and projects for the stadium and South Broad district. Two funded projects: (1) Stadium gates – local artist Tommy Bronx designing laser-cut steel panels for main entrance gates, fabricated by Thoroughbelt. (2) Large mural on the back wall (over 6,000 sq ft) visible from the highway, budgeted at $35/sq ft plus lighting, with community engagement planned. Future unfunded opportunities: a gateway sculpture using salvaged industrial materials (estimated $300,000) and a powerhouse mural (estimated $45,000).
- Discussion on African American History: Authority member Ann expressed concern about insufficient representation of African American history, particularly the Negro League and the South Broad community’s history. She emphasized the need for authentic input from community elders. Kate Kearney acknowledged the need for broader community engagement on the mural and interpretive signage. Developer representatives (Daisy?) affirmed commitment to telling those stories as part of the district’s overall narrative. Clarification on funding sources: city funds cover the gate and mural; other projects would require other entities.
Key Outcomes
- Minutes approved.
- Resolution 6a (remaining stadium funds) approved with oversight provisions.
- Public art projects for stadium gates and back wall mural are moving forward; community engagement for the mural will be more robust.
- Authority directed that efforts to incorporate African American history into public art be prioritized, with input from local families and historians.
- Future unfunded public art projects (gateway sculpture, powerhouse mural) noted as potential opportunities requiring other funding sources.
Meeting Transcript
Good morning, everybody. Good to see you everyone. We'll just kick it off. We'll go to the approval of minutes for December eleventh, two thousand twenty-five meeting. Okay, all in favor. Any opposed? Okay. Beneath that we have the liabilities at 96 million. Most of that is again the bonds that were issued. I would like to make note of the 2.5 million in retainage. That amount will fluctuate as the construction continues and nears its completion. That should dwindle over time. Beneath that we have the income statement and expenses. Again, most notably is the 3.6 almost 3.7 million of interest earns from the bonds. And then finally, below all that is the income statement in debt, which again shows the TIFF payment we received last year, as well as the debt interest payments on the bonds that were received. Are there any questions over the balance sheet and income statements? If not, we can move on to the next page, which shows I'm sorry. One second. I'll just I just want to um thank you for the revised presentation. It's much more understandable. Um the income statement and the income debt. Uh the question. I I I guess I'm a little confused with the name when it says income statement. Does that mean we've collected for more than we brought in? Where is that coming from? Or is it just money in and money out? It's sort of cash in and cash out. Yes, that's to show the cash that was received that was brought in, and then some of the expenses that were uh expensed out. But we just wanted to also break out beneath that the income statement showing some of the debt from the interest payments as well as the TIFF income. We just wanted to kind of break that out so that it was a little easier to parse and read. Well, thank you so much for the clarification. Yeah, it was just more of a highlight. Got it. Okay. And that that's because you have money coming in from the industrial development board on the TIFFs here into this funding for the I guess the sports authority financial report, correct? Some of it, yes. So the 10 million, or actually, I'm sorry. Yes, the 506. Yeah, no, I'm sorry. That's that's the because of the IDB TIFF, correct? I believe so. Yes, the 506,000. Yes, yes. Looking at the very bottom, the TIFF, yes, that's correct. Yes, sir. So it's coming from another uh entity here that would be coming in because of the tax increment financing. Yeah, that's correct. All right. Okay, I guess since you brought that, I kind of what it doesn't show is the excess or the surplus of ins versus out. Unless I add them all up.
openpublica.com