CHARLOTTE, N.C. (QUEEN CITY NEWS) — New survey results suggest the majority of respondents do not agree with the City of Charlotte putting money into Bank of America stadium renovations. The city would be on the hook for $650 million as part of the proposal for stadium upgrades.
Business owners who spoke to the city council Wednesday explained their businesses get a boost whenever there is any type of event at the stadium so they support the city helping to fund the deal. Nearly 300 survey respondents online say the city should not make this investment.
Carolina Panthers staff released renderings showing the grand plan for Bank of America Stadium in Uptown. The shiny new digs come with a $1.3 billion total price tag.
Tepper Sports and Entertainment is asking the city to fund $650 million for the renovations. The money would come from the city’s hospitality tax.
“This is not just a center city benefit. This benefits all around 485 corridors and out,” Vinay Patel president and CEO of SREE Hotels said. “So it’s about the jobs that it creates. It’s about putting money back into the economy.”
Queen City News requested the responses from a public feedback survey about the investment.
As of June 10, more than 450 people responded and more than 60% of people opposed a public contribution.
Some cited the Panthers’ losing record, others say David Tepper is a billionaire who should fund the project himself.
“Technically it’s not going to a billionaire. It’s going right back into our economy,” Patel said. “It’s going right back into these construction workers, the vendors that are going to be there, whoever it might be.”
In a presentation to Charlotte City Council members, Panthers President Kristi Coleman outlined the multi-million dollar donations the team has made to the community and the community engagement events planned for the future. In the proposed deal, Tepper Sports and Entertainment would invest $150 million into upgrades for the 30-year-old stadium and $421 million more for capital improvements through 2045.
“We’d like to continue to be able to have, the soccer, international soccer, concerts and, of course, the NFL but at this point in time, you know, investment is needed for us to remain competitive and to drive future growth,” Coleman said.
Charlotte City Council will host a public comment session on June 17 at 3 p.m. Council will vote on whether to fund the upgrades on June 24.