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NC House agrees to tweak taxes for Panthers' home

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RALEIGH, N.C. (AP) - North Carolina House members have agreed the city of Charlotte can spread around local hotel and prepared foods tax revenues to pay for upgrades sought by the Carolina Panthers to its downtown stadium.

The full House voted Wednesday in favor of the measure that expands how the city can use Mecklenburg County revenues beyond the Charlotte Convention Center to help with renovations to Bank of America Stadium.

The bill doesn't raise taxes as city leaders originally wanted and generates less than the team sought from the city. The Panthers want to begin stadium renovations of up to $300 million after next season.

The measure was approved on a voice vote because it's considered a local issue. Two committees debated the measure this month. The bill now goes to the Senate.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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This is interesting

This means NO tax increase - no NEW taxes yet allows for the already being collected F&B tax to be adjusted so that NOT ALL of it goes towards the Charlotte Convention Center.

This was probably the most amicable solution, since Tillis has said "No" state taxes to be given to Richardson for Panther stadium renovations.

I would suggest that Wilmington and New Hanover County look at this deal. If the ROT collected pays for the CC mortgage then anything else should revert back to the County for beach funds.

The city should not be subsidizing the OPERATIONAL losses of the convention center, OR they should not after a set time frame like 5 years.

Vog