City leaders seek smaller tax increase for Panthers renovations

City leaders seek smaller tax increase for Panthers renovations

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by WCNC.com Staff

WCNC.com

Posted on March 13, 2013 at 5:38 PM

Updated Wednesday, Mar 13 at 6:41 PM

There are new details in the fight for your tax money to help pay for renovations to Bank of America Stadium.

On Wednesday, Charlotte city leaders asked the general assembly to approve a smaller, shorter increase in the "prepared food and beverage tax."

City leaders originally asked for a one to two-percent increase for 30 years, and that was shot down.

Instead, lawmakers want Charlotte to use existing hospitality tax money to pay for the renovations-- that could fund up to $110 million of it.

The panthers have asked the city for $125 million to help pay for stadium improvements. That's just a small part of the roughly $300 million the project would cost.
 

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