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Charlotte Knights want $11 million from city for new stadium

CHARLOTTE, NC (CHARLOTTEOBSERVER.COM) — The Charlotte City Council will hear Tuesday the latest proposal for a city subsidy for a proposed new uptown stadium for the Charlotte Knights.

The AAA baseball team, which currently plays in Fort Mill, has asked the city for $11 million, and the most recent city staff proposal was for council members to give the Knights $8.5 million. That subsidy would come from $6 million in hotel/motel tax revenue, paid over 20 years, and a $2.5 million rebate on most of the city property taxes the team is expected to pay over the next two decades.

But some council members have balked over the property tax rebate, including Mayor Pro Tem Patrick Cannon. Mayor Anthony Foxx has said he’s ambivalent about helping the team.

CLICK HERE TO READ MORE: http://www.charlotteobserver.com/2012/05/28/3274031/city-to-reveal-lates…

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