Public Weighs In On $650 Million Bank Of America Renovation Project

CHARLOTTE, NC — It’s the $650,000,000 question, should the city pay to fix up the Bank? Charlotte City Council held a public comment session on Monday afternoon to hear what residents have to say about it.

The $650,000,000 renovation project would come from the hospitality and tourism tax. A tax paid by hotels and food and beverage. Several members of the hospitality industry spoke in favor of the renovations, one man calling Bank of America a destination asset.

“These funds are specifically earmarked for hospitality related projects, ensuring that our investment directly benefits our community,” explained Vinay Patel.

State law says that tourism tax must be used on projects that bring in more tourism dollars. Some in opposition are calling on more transparency from David Tepper and Charlotte City Council on project costs.

“How much of the tourism tax fund is left over for our great cities, museums and and art institutions?” asked Scott Bryan.

From football and soccer games, to concerts and events, uptown business owners believe an investment in the stadium is an investment in the local economy.

“Our profit and our business from July to December and 2023 increase 149%. A lot of this increase was credited to the events at the Bank of America Stadium,” said Uptown business owner Sherry Neal.

Charlotte City Council is scheduled to have a final vote on the plan next Monday. Many opposed believe the vote is too soon and needs more public opinion.