Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council clears stadium financing steps, approves ground-lease terms and performance-venue amendments
Summary
Charlotte council approved initial findings for special-obligation bonds, a short-term ground lease for construction staging, and amendments to the Bank of America Stadium lease to permit a privately funded 4,400-seat performance venue; two councilors voted against bond and ground-lease motions.
The Charlotte City Council on Oct. 13 approved multiple actions to facilitate renovation and related development at Bank of America Stadium, including initial findings needed to proceed toward issuance of special-obligation commercial-paper financing, a 60-month ground lease for a staging site, and amended lease provisions to allow a privately funded 4,400-seat indoor performance venue.
Matt Hassett, Charlotte's chief financial officer, told council the step to approve initial findings is procedural and necessary to place the city in the posture required by the North Carolina Local Government Commission before debt issuance. "No payment has been made to Tepper Sports and…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
