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Mayor seeks $80M of state FedExForum funds and a 0.5% hotel‑tax increase to finance arena overhaul
Summary
Mayor Paul Young asked the City Council Feb. 4 to allocate $80 million of state‑designated FedExForum funds and signaled support for a city hotel‑motel tax increase to help finance a phased, roughly $550 million renovation of the arena.
Mayor Paul Young and FedExForum officials presented Feb. 4 on a proposed multi‑phase overhaul of the arena aimed at modernizing the building, upgrading systems and keeping Memphis competitive for major events.
The city holds $230 million in state‑allocated funds for forum improvements; the administration asked the council to release $80 million of that cash to the Memphis & Shelby County Sports Authority to begin essential capital projects (critical life‑safety and infrastructure work, design and other near‑term capital needs).…
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