make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Charlotte Knights want $11 million from city for new stadium

READ MORE:

CHARLOTTE, NC (CHARLOTTEOBSERVER.COM) -- The Charlotte City Council will hear Tuesday the latest proposal for a city subsidy for a proposed new uptown stadium for the Charlotte Knights.

The AAA baseball team, which currently plays in Fort Mill, has asked the city for $11 million, and the most recent city staff proposal was for council members to give the Knights $8.5 million. That subsidy would come from $6 million in hotel/motel tax revenue, paid over 20 years, and a $2.5 million rebate on most of the city property taxes the team is expected to pay over the next two decades.

But some council members have balked over the property tax rebate, including Mayor Pro Tem Patrick Cannon. Mayor Anthony Foxx has said he’s ambivalent about helping the team.

CLICK HERE TO READ MORE: http://www.charlotteobserver.com/2012/05/28/3274031/city-to-reveal-lates...

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.

»

baseball and taxes

Baseball is booming at Minor League Level and will be interesting to see if Charlotte invests in their future.

You will do

anything to distort the truth.

The Knights were not asking Charlotte to pick up the tab and gaurantee the loan.

The assistance sought is 2 fold.

A portion of the subsidy to be paid over 20 years from Room & Hotel tax revenue -- NOTE -- not from real estate property tax increase.

The other portion to be a property tax reduction or waiver over 20 years; and the City Council balked at that.

You've either got to be the owner of the over priced waterfront property or on the payroll of Mandalay or the A Braves.

Why not take your own advise and let this play out?