Mecklenburg County and the Charlotte Knights entered into a Development and Economic Grant Agreement dated November 20, 2007, which provides for an economic grant to the Knights and governs the construction of the Infrastructure Improvements and the development of the Stadium and Stadium Site in the design, development and construction of the Stadium project located thereon.
The County and the Knights entered into a lease agreement for the Stadium Site which was made and entered into as of March 18, 2008.
The Knights requested that the County amend the Lease and Development Agreement, and the Mecklenburg County Board of Commissioners will vote on the requested amendments at its meeting on August 2, 2011. The purpose of the amendments to the Lease and Development Agreement are to provide to the Knights additional time to obtain the necessary financing and to construct the baseball stadium.
Attached are the original Lease and Development Agreement, along with the proposed changes to the Agreements.