CHARLOTTE, N.C. (QUEEN CITY NEWS) — Charlotte Mayor Vi Lyles shared her opinion for the first time Thursday about a proposed plan that would use public funds to renovate Bank of America Stadium.
She was asked about the stadium renovations during a meeting hosted by the Charlotte Regional Business Alliance.
The $1.3 billion plan would have the city pay no more than $650 million dollars. Those funds would come from the city’s existing tourism tax, which would be extended by decades.
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Panthers owner David Tepper’s company would pay the balance. The deal would include a 20-year commitment to keep the Panthers and Charlotte FC in the Queen City.
Lyles says the proposed plan could breathe some new life into uptown. Panthers officials said there would be new seats, a South lawn pavilion and exterior video boards with the goal to create an inviting perimeter with a park-like setting.
“This is an investment in our future,” Lyles said. “That’s why is strongly support what we’re doing with Tepper Sports. Yes, I wish we had the ability to do this on our own. But we have to partner with Tepper Sports and our hospitality industry.”
Council members will vote on the plan June 24.
“We have competition,” Lyles said. “We want to be a city that’s continuing to grow. Not one that’s going to shrink.”
Survey results released this week show people locally don’t agree with the funding plan.