Deal to renovate Panthers' stadium "on life support" - | WBTV Charlotte

Deal to renovate Panthers' stadium "on life support"

CHARLOTTE, NC (WBTV) -

The deal to renovate Bank of America Stadium is, so far, not working out planned.

The proposal called for the state and the City of Charlotte to give the Carolina Panthers about $200 million in public money to upgrade Bank of America Stadium. In exchange the Panthers were going to stay in the Queen City for 15 years. 

But the Governor is refusing to fork over taxpayers' money, and lawmakers won't approve a 1% increase of the prepared foods tax.

"My fear is the Panthers stay in Charlotte is on life support" says Charlotte city council member Andy Dulin.

Council member James Mitchell says he's trying to resuscitate the deal.

"We're down to 21 days of us trying to get the deal" says Mitchell, who sent a letter to legislators urging them "to establish a workable agreement with the Carolina Panthers that would tether the Panthers to Charlotte and North Carolina for the next fifteen years."

In the latest move, city officials presented a proposal to scale back the request to an increase of 1/2 % for 15 years. City officials say they would borrow $16.7m from the existing convention center fund to help cover the cost of the city's $125 million contribution to the $300 million deal.

Mitchell, who is chair of the City Council's Economic Development Committee, says he wanted to "show them {legislators} a different option that we're really trying to think out of the box."

But he says one lawmaker has already told him there's "no appetite in the General Assembly for an increase in taxes."

In the letter, Mitchell says "even if the city were to bleed every penny from those existing revenue sources away from the Convention Center... The available revenue would fall short and put at risk any opportunity to tether the Panthers to Charlotte for 15 years."

Mitchell told legislators he "fears the state's failure to do so will ultimately lead to the sale and relocation of the Carolina Panthers."

What's the next step?

Mitchell says if he continues to get negative feedback from Raleigh, he told Mayor Anthony Foxx "I'd like to sit down with the Mayor and staff and talk about plan B and C."

Copyright 2013 WBTV. All rights reserved.

  • Local NewsMore>>

  • Mint Hill neighbors say fire hydrants needed after massive blaze

    Mint Hill neighbors say fire hydrants needed after massive blaze

    Saturday, March 25 2017 11:43 PM EDT2017-03-26 03:43:02 GMT
    (Christian Flores | WBTV)(Christian Flores | WBTV)

    After a Mint Hill family is now without a home after a massive fire Friday night, neighbors said the damage to the home could have been minimized, if one of their long-time concerns had been addressed. Neighbors told WBTV there are no fire hydrants in their neighborhood. The fire happened around 8 Friday night, at a home on Saffir Court. According to fire officials at the scene, the closest fire hydrant was almost a mile away. "We watched them set up the portab...

    More >>

    After a Mint Hill family is now without a home after a massive fire Friday night, neighbors said the damage to the home could have been minimized, if one of their long-time concerns had been addressed. Neighbors told WBTV there are no fire hydrants in their neighborhood. The fire happened around 8 Friday night, at a home on Saffir Court. According to fire officials at the scene, the closest fire hydrant was almost a mile away. "We watched them set up the portab...

    More >>
  • Two people killed in crash on I-77 SB in Chester County

    Two people killed in crash on I-77 SB in Chester County

    Saturday, March 25 2017 5:50 PM EDT2017-03-25 21:50:45 GMT
    (Jordan Sawyers | WBTV)(Jordan Sawyers | WBTV)

    The wreck happened on I-77 southbound at mile marker 68.

    More >>

    The wreck happened on I-77 southbound at mile marker 68.

    More >>
  • Molly's Kids: 15-year-old now living with pediatric MS

    Molly's Kids: 15-year-old now living with pediatric MS

    Saturday, March 25 2017 6:49 PM EDT2017-03-25 22:49:09 GMT

    Sarah is a sophomore who makes straight A’s at McDowell Early College. She is from the small town of Dysartsville and was diagnosed with pediatric multiple sclerosis in July of last year.

    More >>

    Sarah is a sophomore who makes straight A’s at McDowell Early College. She is from the small town of Dysartsville and was diagnosed with pediatric multiple sclerosis in July of last year.

    More >>
Powered by Frankly