Construction for the Carolina Panther’s new multimillion-dollar facility in Rock Hill, SC is on hold. In early March, they said the city of Rock Hill did not pay its initial payment due in March 2021.
According to a report by WSOC-TV, Tepper Sports & Entertainment states that while the project is on hold, they will talk to their partners to find ways to continue building. Tepper Sports & Entertainment stated that their partners were unable to contribute the agreed-upon investment to fund the construction.
This is the Why and How:
City leaders in Rock Hill gave more information Monday explaining their side. According to WSOC-TV, Rock Hill said their plan was to offer bonds in different series and not as Tepper Sports reported. Leaders stated that the Panthers organization did not submit enough details in order to secure the bonds. Mayor and City Manager, David Vehaun, says when leaders were able to move forward the Panthers organization told them to stop. Both York County and Rock Hill released statements in response to the paused construction.
York County: “York County Government is aware of the announcement by the Carolina Panthers halting construction on the team headquarters and practice facility in Rock Hill. Although York County is not responsible for funding the infrastructure at the site, county staff is in communication with the Carolina Panthers, and hopes to work toward a solution that protects County taxpayers.”
Rock Hill: “The City has met all obligations required under the agreement, and is not aware of any March 2021 payment obligation. The City intends to continue honoring our agreement with the Panthers and fully supports the project.”
“The bonds haven’t been issued to date. The agreement requires the City to utilize best efforts to issue bonds. We specifically did not agree to use any City funds or assets for this purpose beyond the tax revenues generated from the site. The City remains willing to issue any marketable bonds fully supported by the developer, whose support remains integral for the success of this public/private partnership.”
WSOC-TV reports that a spokesperson for South Carolina Governor Henry McMaster states that he is confident local governments, in Rock Hill, and the Panthers organization will be able to resolve the dispute.
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