Board approves $8 million for Ball Park

The County Commissioners approved a $8 million grant to the Charlotte Knights to help the team prepare a stadium site in Third Ward.The grant would help the Knights improve roads, install traffic signals and make other improvements around the site, where the team wants to build a $35 million stadium. Commissioners voted 6-3 to approve the grant, with Republicans Bill James, Dan Bishop and Karen Bentley voting no. A second vote, authorizing County Manager Harry Jones to execute the deal, passed 7-2, with James and Bishop opposing.

For nearly two years, since local boosters first pitched a complex land swap to free land for the stadium, local officials have negotiated with private businesses to try to make uptown baseball a reality. The decision doesn't guarantee the Knights will start playing in an uptown stadium in 2009, as the team plans, there are some other hurdles to be jumped over.
However, last night's decision gives team officials access to the site and money they say they need to prepare it and build the stadium.

Quote from Observer Article:

Uptown business leaders hope minor-league baseball can complement the growing
center city, which already hosts NFL and NBA teams."It's a perfect fit for Charlotte at this point in time, in our still-surging progress," said Jeff Beaver, director of the Charlotte Regional Sports Commission, at a public hearing before the vote.

For the team to move, though, the county still must reach additional agreements with the Knights and a firm that owns land nearby. It also must weather a lawsuit that challenges the transfer of Charlotte-Mecklenburg Schools property in Second Ward to the county -- part of the land swap that would open up the stadium site.

The agreement that commissioners approved Tuesday allows the team to begin work on the site, bounded by West Martin Luther King Jr. Boulevard and South Graham, West Fourth and South Mint streets.

The Knights hope they can raise the $35 million stadium cost mainly through loans and other financing with Wachovia and Bank of America. If they don't what then? It brings up the question, are we going to be funding another arena?

A few things still could derail the move. Chief among them is a lawsuit by Charlotte attorney Jerry Reese, who wants to block transfer of the Education Center property. I understand his reasoning, they (the Commissioners) promised an uptown park. Instead we are getting more steel and glass.

Stay Tuned....