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I see now, our $21 million from "Pennies for Progress" was not just on paper. The money was given to Tepper and now York County has filed a lawsuit against Tepper's organizations and the City of Rock Hill to get the taxpayers money back.
This was really a dirty deal. The mayor in Rock Hill says ... we did everything we were suppose to do.
York County says Rock Hill did not issue the bonds as agreed.
So do you think that Tepper et al simply overextended themselves or had problems with their financing or cost increases or was it some sick effort to leverage some sweeter deal in Charlotte for the team. Seems like Charlotte is forking over a bunch of money for the creation of a new entertainment district around the arena.. so I wonder how much capacity there is to do anything for the Panthers though they too can benefit from a solid Entertainment District Uptown.
I honestly do not know who is right and who is wrong in this situation. At first, it seemed to me that the Panthers were in the right, but then again it does not seem like they run their organization right from football ops on down.
So do you think that Tepper et al simply overextended themselves or had problems with their financing or cost increases or was it some sick effort to leverage some sweeter deal in Charlotte for the team. Seems like Charlotte is forking over a bunch of money for the creation of a new entertainment district around the arena.. so I wonder how much capacity there is to do anything for the Panthers though they too can benefit from a solid Entertainment District Uptown.
I don't know. I am sure Charlotte, Concord, Gastonia and other surrounding areas would welcome this type of facility but the Tepper organization is in a legal mess now.
I just can't understand why the mayor of Rock Hill and the City Manager continue to say that Rock Hill complied with the agreement.
Then York County Council, SC State officials and Tepper's group say Rock Hill did not comply with the $25 million bond issue that was in the contract.
This facility was pitched as the York County taxpayers would not be affected financially (tax increase) by this deal with the Panthers. The recent York County lawsuit indicates our tax money has been handed over to the Tepper real estate company. The county wants the $21 million Pennies for Progress money back.
York County is suing Tepper's organizations in addition to suing the City of Rock Hill. I assume they are holding the City of RH responsible for the $21 million from Pennies for Progress handed over to Tepper and RH's failed vanity project.
I hope when the next reauthorization vote for the Pennies program comes up, taxpayers remember the loss of this 21 million dollars.
That's a hell of a lot of money that should of gone to fixing our deplorable highways in York County.
Council should be absolutely ashamed as to what they've done to the residents of our county.
David Tepper, Panthers: $16.7 billion (103rd-richest person in the world)
Stan Kroenke, Rams: $10.7 billion.
Jerry Jones, Cowboys: $10.6 billion.
Robert Kraft, Patriots: $8.3 billion (up two spots)
Stephen Ross, Dolphins: $8.2 billion.
ROCK HILL, S.C. (CN2 NEWS) – The failed Carolina Panthers practice facility and headquarters are still being debated in a courtroom.
The City of Rock Hill is asking a judge to dismiss the City in the York County’s lawsuit as a Tepper Defendants.
York County and the Panthers claim the main issue with the project was Rock Hill did not issue the required bonds, but the City of Rock Hill claimed for months now there was no requirement for it to issue the bonds.
It's pretty obvious he was just wanting it as a profit-making development. COVID hit, the economy went sour, Atrium pulled out and he could find no partners for his commercial spaces, no hotel partner, and probably no residential partner. Rather than admit he wanted out for his own reasons, he tried to blame it all on the city. The fact of the matter is this guy is worth over 18 billion and he could build that little practice building with his pocket change. And with the money this guy has, it is just despicable how he is trying to steal from taxpayers with the road money, etc. not to mention leaving a huge eye sore in Rock Hill. And he did a similar thing with Charlotte and Eastland property, although at least no construction was started there.
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