Council to vote on plan to forgive NASCAR Hall of Fame Museum debt
CHARLOTTE, N.C. — Monday, the Charlotte City Council will take a crucial vote to decide the future of the NASCAR Hall of Fame Museum.
According to leaders, the lack of visitors is a big problem the Hall has faced for years.
The Hall of Fame has struggled to make money since opening its 2010 opening. But, it still owes millions of dollars in loans to Bank of America and Wells Fargo that it simply can’t afford to pay back.
Monday, Charlotte City Council is expected to vote on a proposal to pay the banks at least some of the millions owed.
If the council approves, the city would pay the banks $5 million. That money would come from the NASCAR occupancy tax that’s generated from local hotels.
Read more: WSOC