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Charlotte outlines ballpark funding plan

Charlotte KnightsA Charlotte (N.C.) City Council committee will debate today a proposal to help fund a new Charlotte Knights (Class AAA; International League) Uptown ballpark, contingent on the team arranging private financing.

The plan, to be discussed today by the council’s economic development committee, calls for $9 million to be paid to the team after 2015, with half of the money tied to increased economic activity in the area. Mecklenburg County has already agreed to lease the Uptown site for $1 annually and will pay the Knights $8 million for infrastructure improvements if the meets a series of conditions, including a 2012 start to construction and a 2014 opening.

The city portion is seen as the last part of the ballpark funding plan, though a rejection of the $9 million commitment won’t necessarily kill the $55-million project.

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