CHARLOTTE — The Charlotte City Council economic development committee counter-offered the Charlotte Knights’ request for $11 million to build an uptown stadium Wednesday. The Knights will open their 2012 season Thursday.
The city is recommending $9 million with $4.5 million coming from tourism funding and other $4.5 million coming from tax revenues expected from parcels slated to be built after ballpark opens in 2014.
The team wouldn’t get any funding from the city until after stadium is built. Payments would be spread out from TIF and tourism tax between 2015 and 2024.
If all goes as planned, city and county would cover half of the total $74 million price tag the stadium and land cost.
City committee and full council still must approve recommendation in coming months. Knights must provide a financing plan by June 30 to begin construction by Oct. 1 so team can play in uptown in spring 2014.
