Here’s how much Rock Hill, York County, schools are willing to give the Panthers.
Details on the Carolina Panthers headquarters project are in, with York County now one vote closer to a finalized deal.
Yet it’s hardly a done deal.
York County County voted Monday night to nix any plans for gambling at the Panthers site off I-77 in Rock Hill. Council also reduced the properties eligible to fall under the agreement.
Council passed the second of three readings Monday night for two items related to the Panthers headquarters and training site plans in Rock Hill. One decision sets up an agreement where GT Real Estate Holdings, LLC — the team — would pay a fee rather than taxes for a set time. The other sets up a multi-county industrial park to allow the fee agreement.
A public hearing will come with final readings on the fee agreement and multi-county industrial park. Those votes are set for March 30.
Multiple council members said they’d need changes or more details before the final reading.
What’s in the deal?
The incentive agreement involves a minimum $500 million first phase investment and 150 jobs. It notes a planned second phase investment, also at $500 million. In recent months Rock Hill leaders spoke of Panthers plans and surrounding commercial space and hotels expected along with it as a possible $2 billion addition to the city.
Under the agreement, property would be assessed at 4%, the same rate owner-occupied homes pay, for 40 years.
In the fee agreement, York County would put 65% of its fee collection toward payment for public infrastructure needed for the development. The City of Rock Hill would allocate 100% of its fee portion. The Rock Hill School District agreed to 75%.
Once the debt is paid in 20 to 25 years, rebates toward debt would end and those taxing entities would keep all their respective revenue.
The debt related to public infrastructure could reach $225 million for up to 33 years.
Council had planned a public presentation on Project Avalanche at Monday night’s meeting, but took it off the agenda as the county asked the public to stay at home and watch via live stream rather than attend the meeting due to the threat of coronavirus and recommendations to avoid large gatherings.
Plans already are underway for a new interchange off I-77 to serve the project. Public comment is open through March 19. The plan would be for a $90 million addition near mile marker 81, with a bridge crossing the interstate and ramps on either side of it.
Other steps include negotiation between the team and City of Rock Hill on a development agreement. The team has requested space for hotels, restaurants and commercial buildings including two possible skyscrapers. The team also asked for several options now outside of city or state law, such as gambling sites, bars open past 2 a.m., cigar bars and tattoo parlors.
Tense discussions
Council spent more than three hours in executive session, in discussion to the point where supporters weren’t sure the votes Monday night would pass. Councilman William “Bump” Roddey said the group was closer to a deal a week prior than it was Monday night.
“Tonight we’ve kind of opened the gap back up as to how we will proceed,” he said.
Roddey and some other supporters expressed concern the group might overthink the decision.
“I’m, I guess, overwhelmed how this thing could be falling apart here in the eleventh hour,” Roddey said.
Councilman Britt Blackwell agreed.
“This is a great opportunity for York County,” he said. “This has just been picked to death. This should’ve been decided back in the fall.”
Only Chairman Michael Johnson voted against the second readings. Yet council members Allison Love and Robert Winkler had some level of concern the incentive deal hasn’t had any public vetting.
“We have not had public input,” Love said. “Not only have we not had the public hearing but the public, until tonight, has not been given any information.”
Councilwoman Christi Cox said there are several holes in the agreement that need to be filled with figures before she would vote for it at final reading. She also made it clear she would not support one request made by the team, the option of casino gambling at the site.
“I will not support tax incentives for casino gambling,” Cox said.
An amendment Monday night took out the option to add properties within a mile of the main site, under the fee agreement. Johnson said he’s concerned about other nearby properties.
“We are also placing that over three additional parcels that they do not own as of today, and potentially the (Waterford) golf course,” Johnson said. “I am concerned about that. I am concerned about the creep in this.”
Some members said they question putting a fee agreement in place for uses — apartments and others — not typically covered. Fee agreements typically involve manufacturing and industrial sites. Johnson said he also sees possibility in the agreement to put the county on the hook for road work typically required of a developer, or in this case the developer in agreement with the state commerce department.
“I need to know that we’re not going to build a new (interchange), with our money, for the Carolina Panthers,” Johnson said. “I appreciate their coming, but we have roads and infrastructure all over this county that desperately need help. We need new roads built. We need new interchanges built. This money does not need to go there.”
Overall, though, sentiment Monday night was the deal is too good to pass up, or at least advance to a final vote.
“I don’t think we need to overthink a deal that everyone agrees is in the best interest of this county,” said Councilman Joel Hamilton.
The tax revenue with the Panthers is vastly different than the site would produce without the team, he said.
“This is something that is just so transformational, we can’t allow any minor disagreements to jeopardize this project going forward,” Hamilton said.
This story was originally published March 17, 2020 at 9:53 AM.
