Charlotte leaders seek smaller tax increase for Panthers renovations
The Bank of America Stadium in Charlotte
Charlotte city leaders asked the general assembly to approve a smaller, shorter increase in the “prepared food and beverage tax” on Wednesday in order to help pay for renovations to Bank of America Stadium, WCNC reports.
City leaders originally asked for a one to two-percent increase for 30 years, and that was shot down.
According to the report, lawmakers want Charlotte to use existing hospitality tax money to pay for the renovations– that could fund up to $110 million of it.
The panthers have asked the city for $125 million to help pay for stadium improvements. That’s just a small part of the roughly $300 million the project would cost.
Read more at WCNC