NC auditor scrutinizes Charlotte’s $650M stadium deal – Carolina Journal

NC auditor scrutinizes Charlotte’s $650M stadium deal  Carolina Journal

The North Carolina Office of the State Auditor (NCOSA) is taking a closer look at the City of Charlotte’s $650 million public investment in Bank of America Stadium renovations, releasing the first in a series of oversight reports on Wednesday. The North Carolina Office of the State Auditor (NCOSA) on Wednesday released the first in a series of oversight reports on the city of Charlotte’s $650 million public investment in Bank of America Stadium renovations. “This initial review of the Bank of America Stadium project marks a shift at the Office of the State Auditor,” State Auditor Dave Boliek said in a press release. “We’re providing the public with ongoing transparency on stadium renovations, rather than stepping in late after the taxpayer-funded project is completed.

By engaging with business leaders and local government on economic development projects, the State Auditor’s Office is able to show North Carolinians how public investment is being utilized.” The $650 million subsidy for the privately owned stadium was approved by the Charlotte City Council in a 7-3 vote in June 2024. The state’s Local Government Commission voted unanimously in April 2026 to approve the city’s request to issue up to $650 million in special obligation bond anticipation notes. Boliek, a member of the commission, said at the meeting that his office would provide oversight for