CLT approves Spectrum Center reno plan changes

The Charlotte City Council’s economic development committee voted unanimously yesterday to "endorse a new approach" for the Hornets' Spectrum Center renovations, which include more spending on the practice facility, more city money to the Spectrum Center renovations and a shift in the location of the practice center . The full City Council "could take up the issue as soon as March 25," though some committee members "cautioned they still want more information before a final decision is made." The changes to the plan "were driven by the Hornets' new ownership group" of Rick Schnall and Gabe Plotkin . Under the revised plan, Charlotte would still contribute $275M to the Hornets, but instead of $215M going to renovations in the Spectrum Center and $60M to the practice facility, the city would invest $245M in the arena and $30M in the practice center. Additionally, the Hornets will invest "an additional" $70-100M in the practice facility -- which "could bring the total cost of the project to" $345-375M. The revised practice center plan is "larger, includes a medical facility and will be built sooner than ... originally contemplated" ( CHARLOTTE OBSERVER, 3/4 ).