The city of Charlotte is reportedly prepared to spend $27.5 million for upgrades at Time Warner Cable Arena—home of the NBA’s Charlotte Hornets—as well as committing another $6 million over 10 years for maintenance.
The Hornets and the Charlotte Regional Visitors Authority had asked the city for almost $48 million in arena improvements, according to the Charlotte Observer. Many of those improvements are said to be part of an operating agreement agreed to in 2003 that requires the building to be among the most modern arenas in the NBA.
The Charlotte City Council learned Monday night that the money would come from a pair of existing hospitality taxes—a hotel/motel tax and a car rental tax.
The council is scheduled to vote on the improvement package on Sept. 8.
The Hornets would get money from the city for restaurant renovations, restroom improvements, lighting, upgrades to the visitor’s locker room, scoreboard improvements and to move the ticket office.
The arena would also have its capacity increased by roughly 600 by replacing tabletop seats in the lower bowl of the building with traditional stadium seats.
The Charlotte City Council agreed in 2013 to give the NFL’s Carolina Panthers $87.5 million, most of it for improvements to Bank of America Stadium, in exchange for a six-year commitment by the franchise to remain in Charlotte.
Time Warner Cable Arena opened in 2005 and is the third-youngest arena in the league, older only than buildings in Orlando and Brooklyn.
Tags: Charlotte Hornets