Wednesday April 28, 2:13 pm Eastern Time
Company Press Release
Council Vote, Approval of Financing Clear Way for Hall of Fame
Groundbreaking
NASHVILLE, Tenn.--(ENTERTAINMENT WIRE)--April 28, 1999--Approval last
week
by the Metro Council of a $2 million allocation for the new downtown
Country
Music Hall of Fame has triggered the financing needed to break ground at
the
new facility.
Work on the $37 million project will begin within two weeks, and a formal
groundbreaking celebration is being planned for early in the morning on
June
17 as part of Fan Fair, Country Music Hall of Fame Director Kyle Young
said.
The new facility on Demonbreun Street will cover an entire city block
catercorner from the Nashville Arena and directly behind a new downtown
hotel and a city park.
``The unanimous vote by the Metro Council to allocate $2 million in
tourist-related funds over the next four years set in motion all of the
things we have been eagerly awaiting,'' Young said. ``It triggered the
approval of financing from NationsBank, allowed excavation to begin and
let
us begin planning a big groundbreaking ceremony as part of Fan Fair
Week.''
Young said $12 million had to be raised in order to allow ground to be
broken on the site. A total of $10 million in cash and pledges was
gathered
from private donors before Mayor Phil Bredesen and the Metro Council came
up
with the Metro share of the project.
The Hall of Fame, slated to be completed by May 2001, will be the largest
tourist destination built in Nashville since Opryland opened in the
1970s.
It is estimated that the new facility will draw at least 550,000 people
annually and give a boost to tourism and hotel/motel revenues.
``We are excited about having our formal groundbreaking be part of Fan
Fair
Week,'' Young said. ``Country music fans from all over the world are a
big
reason why there is a Country Music Hall of Fame, and they deserve to be
part of the ceremony.''
While Young was not ready to unveil all of the details of the Hall of
Fame
groundbreaking ceremony, he said he expected it to be a fun event
honoring
living members of the Hall of Fame and showcasing some of the music that
has
made Nashville and country music popular worldwide.
``We will have some unique features to this event,'' Young said. ``It
will
not be the run-of-the-mill dip-in-the-shovel and give-a-speech
ceremony.''
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Contact:
Network Ink Public Relations, Nashville
Elizabeth Thiels, 615/297-0550, ext. 102
or
McNeely, Pigott & Fox, Nashville
Mike Pigott, 615/259-4000
