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Council clears stadium financing steps, ground-lease and lease amendments tied to Tepper Sports and Entertainment
Summary
Council approved initial steps for a $650 million special-obligation financing plan, a 60‑month ground lease for 705 West 4th Street, and amendments enabling a privately funded 4,400-seat performance venue connected to Bank of America Stadium; staff emphasized the actions are procedural and that no vendor payments have been made yet.
The Charlotte City Council approved a set of actions related to Bank of America Stadium that advance contractual and financing steps with Tepper Sports and Entertainment.
CFO Matt Hassett told the council that the initial findings resolutions for a special-obligation financing plan (the $650,000,000 figure discussed in committee) are procedural steps required to proceed to the Local Government Commission and do not release funds or direct payments to vendors. "No payment has been made to Tepper Sports and Entertainment or…
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