Charlotte leaders holding special meeting on Bank of America stadium renovations
Several city council members are calling for clarifications and protections in the contract with Tepper Sports. Charlotte city council members are calling for clarification and protections in the contract with Tepper Sports, which is set to cost $650 million for upgrades to Bank of America stadium. The money will come from the city’s tourism and hospitality fund and will be spent between 2025 and 2029. Tepper sports has already spent $117 million on upgrades and plans to offer an additional $150 million for planned renovations and an estimated $420 million for ongoing operating and maintenance costs over the next 20 years. Some council members believe the deal is being rushed and are seeking a special public hearing on the deal. The public can submit feedback on the planned renovations at the bottom of the city's website.
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Several city council members are calling for clarifications and protections in the contract with Tepper Sports.
Several council members have questions regarding the drafted contract and how the city can protect itself in case anything goes wrong.
Renovations to the stadium include installing huge screens and gathering spaces around the perimeter outside. The city is looking to chalk up $650 million for the upgrades. The money comes from the city’s tourism and hospitality fund and will be spent between 2025 and 2029.
Tepper Sports says it has already spent $117 million on upgrades over the years. It will offer an additional $150 million for planned renovations and an estimated $420 million for ongoing operating and maintenance costs over the next 20 years.
"Those amounts aren't specified, and there's no commitment on their part to them," Councilman Ed Driggs explained about the operating and maintenance expenses. "So, we need to have more certainty about what work would be done."
Driggs said the city council wants clarification on what the exact maintenance costs will be. "We want to have a right to demand that they do it."
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"He's made big investments in Charlotte, and we should appreciate that," Driggs said. "At the same time, there has been a lot of publicity about the Rock Hill situation, the breakdown with that relationship, and then his withdrawal from Eastland."
Some council members feel the deal is being rushed. Councilwoman Dimple Ajmera and several others are hoping to have a special public hearing on the deal at the upcoming city zoning meeting on June 17.
"I think this is a very important conversation that I think we need to take our time and get our questions addressed," Ajmera said during Monday's council meeting.
The public can submit feedback on the planned renovations at the bottom of the city's website linked here. The Charlotte City Council is set to vote on the stadium deal on June 24.
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