GREENSBORO, N.C. -- The man in charge of the Greensboro Coliseum Complex wants $24 million to renovate the facility, and he says updating the complex is a necessity to keep the ACC Basketball Tournament and other events coming to Greensboro.
In Tuesday's City Council meeting, the council will call a public meeting for May 15 to discuss the limited obligation bonds needed to get the money in place to make the changes.
Matt Brown, managing director of the Greensboro Coliseum Complex, believes this is the best way to stiff-arm competition from bigger, new venues in Orlando, Atlanta and New York City.
"Anything we can accomplish before next March 13 would be important to set the tone and show the ACC that we are continuing to make improvements and that we want to keep up with all those perspective suitors that they have out there," Brown said.
Greensboro will host the ACC Tournament in 2013, 2014 and 2015. The 2012 tournament was held in Atlanta.
"We're competing beyond the individual arenas and individual cities. We're competing with other states that want that event. It's certainly important to the state of North Carolina and our community that we continue to host that prestigious event," Brown said.
District Three Councilman Zack Matheny said the $24 million would come from the hotel/motel tax pool, which currently makes about $35 million available for just this sort of renovation project at the Coliseum Complex.
"The hotel/motel tax is geared to take care of the coliseum. That was legislation that was put in place 20 some years ago, so it didn't have to go on the backs of taxpayers," Matheny said.
The limited obligation bonds would be used to pay the interest. It does not require voter approval through referendum, but it does require majority council approval. The council will listen to any objections in the public meeting.