Title
UNC Charlotte Conference Center Partnership
Action
Action:
Authorize the City Manager to negotiate and execute an agreement with The Foundation of UNC Charlotte for the City to fund up to $8 million to construct a Conference Center in partnership with UNC Charlotte.
Body
Staff Resource(s):
Tracy Dodson, City Manager's Office
Ron Kimble, City Manager's Office
Robert Campbell, Finance
Explanation
* On June 25, 2018, the Mayor and City Council received a presentation from the UNC Charlotte Chancellor about a proposed partnership with UNC Charlotte for a Conference Center connected to a planned, new hotel on the UNC Charlotte campus.
* The Hotel and Conference Center would be transit oriented development and anchor the JW Clay/UNC Charlotte transit station (Council District 4).
* The estimated $87 million project will be developed by the Foundation of UNC Charlotte (Foundation).
* The Conference Center will be a 24,000 square foot state of the art facility that will be twice the size of a conference center in a like-sized hotel.
* UNC Charlotte has proposed an $8 million funding partnership from the City to construct the Conference Center
* On July 23, 2018, City Council conducted a rezoning public hearing for the Hotel and Conference Center. Requested Council action on this rezoning is also on the August 27, 2018, business agenda.
* Key benefits of the Conference Center include:
* Estimates of nearly $9 million in City, County, and State tax revenue in the first five years of Hotel and Conference Center operation,
* Supports the University City Transit Station area plan and the JW Clay master plan,
* Supports growth of the City's second largest employment hub area,
* Creates demand for other University City area hotels and helps to accommodate large scale conventions in Center City because the conference space exceeds hotel room capacity,
* Drives demand for area restaurants and entertainment amenities,
* Improves attendee access to all parts of t...
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