Monday night the Charlotte City Council voted 7-3 in favor of funding a $650 million Bank of America Stadium improvement project. During the session council members heard from city leaders, business owners and concerned citizens who were both in favor and opposed to the proposal.
Among the speakers was former Carolina Panthers Jonathan Stewart, who spoke in favor of the project.
City Councilman Malcolm Graham, whose district houses Bank of America Stadium and who is also in favor of the proposal, outlined the timeline for the project and acknowledged public concern.
“I acknowledge there was some trust issues relating to this deal. Rock Hill was mentioned often. Eastland was mentioned often and on-field performance of the team was mentioned, as well. The variable that makes the most sense to me is the $1.2 billion dollars of economic development return on investment.”
Among the opponents was Councilwoman Tiawana Brown, who had strong comments about owner David Tepper and concerns about a lack of transparency surrounding the proposal.
Per the agenda, the city will contribute $650 million towards the renovation and development of certain defined areas within the Project, as an example of but not limited to, Field House construction, repair and replacement of existing mechanical, electrical and plumbing infrastructure, updates to bowl seating, vertical transportation improvements, modernization of safety and security equipment, updating of team locker rooms and operational space, addition of new spectator viewing areas, updating of restroom facilities, updates to scoreboard/videoboard, control room, and sound and associated tech, and elevated exterior façade, all of which would be owned by the city and then leased to and maintained by StadCo. The Project will be completed in several phases and draw schedule(s) for city funding will align with construction schedule(s) for each phase.
After comments from the public and council persons, the city council voted in favor of the project 7 – 3.
Malcolm Graham – Yes
James Mitchell – Yes
Marjorie Molina – Yes
Tariq Bokhari – Yes
Edmund Driggs – Yes
Dante’ Anderson – Yes
LaWana Mayfield – Yes
Dimple Ajmera – No
Tiawana Brown – No
Renee Johnson – No
StadCo’s goal is to commence the Stadium Work in 2025 and is expected to
complete the Stadium Work in 2029, based on team schedules and seasons. Field House work commences in late 2024 and early 2025 and is expected to be completed in 2026.
