A 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.
RELATED STORIES: Knights: We’ve met big condition for new ballpark; Reese returns with another anti-Knights lawsuit; Economics of new Charlotte ballpark iffy: Mayor; Economic of new Charlotte ballpark questioned; Knights make economic case for city funding of new ballpark; Charlotte may help fund new Knights ballpark;More legal silliness in Charlotte; Back from the dead! Mecklenburg Co. moves forward with Knights ballpark; Rising from the ashes: A new Knights ballpark
Share your news with the baseball community. Send it to us email@example.com.
Are you a subscriber to the weekly Ballpark Digest newsletter? You can sign up for a free subscription at the Newsletter Signup Page.
Join Ballpark Digest on Facebook and on Twitter!
Follow Ballpark Digest on Google + and add us to your circles!