The Charlotte City Council endorsed the Carolina Panthers' request for $125 million in public money to help fund renovations to Bank of America Stadium last Monday.
According to the Charlotte Observer, the council voted 7-2 in favor of the proposal, which still needs approval from the N.C. General Assembly and Governor Pat McCrory to advance. The vote was an indicator to the legislature that the city is behind the plan.
The city's proposal includes increasing a 1 percent tax on prepared food and beverages to 2 percent. The Observer reported that some council members are still negotiating with the Panthers, while a number also said they believe that Gov. McCrory and the N.C. General Assembly support the plan.
If the legislature approves the proposal, the Charlotte City Council would then take a vote, possibly as early as February, to execute it.
No related posts.