NASCAR Plaza at the Hall of Fame

[Deleted.]

I just hope that we find a much better company, to move into those offices, that won't screw us over three years down the line.

And what gets me so worked up, of the $22 million of incentives, Chiquita will only pay back $1 million!!!!

[rancenc]

I just hope that we find a much better company, to move into those offices, that won't screw us over three years down the line.

And what gets me so worked up, of the $22 million of incentives, Chiquita will only pay back $1 million!!!!

1 million dollars is what has been given to Chiquita at this time so that is all the money that they are required to pay back.  I believe the 22 million dollars was to spread out over a period of 15 years or so.

[DMann]

I just hope that we find a much better company, to move into those offices, that won't screw us over three years down the line.

And what gets me so worked up, of the $22 million of incentives, Chiquita will only pay back $1 million!!!!

That is not quite right. They were only paid $2.5 million, $-.5 from the state and $500k from both the city and the county. All those funds will be repaid. The balance would have been paid over time.

[DMann]

Local and state governments have paidChiquita Brands International Inc. about $2.6 million in incentive grants since the company agreed to move its headquarters to Charlotte.

Now much or all of that money is coming back, city, county and state officials said Wednesday after Chiquita's new owners decided to close the Charlotte headquarters. Local and state governments had promised Chiquita a total of $23 million in incentives for keeping its headquarters here for 10 years.

N.C. Commerce Secretary John Skvarlasays about $1.6 million is due back to the state, which Chiquita agrees to refund.

See Also

• Chiquita to close Charlotte headquarters
• Reactions to Chiquita HQ departure: From 'disappointed' to concerns for employees

"We are in conversations with Chiquita and have confirmed that the company will honor its grant agreements to the state of North Carolina," Skvarla says.

So far, the state has given Chiquita $1.02 million in a One North Carolina Fund grant and $543,368 in a Job Development Investment Grant.

Charlotte and Mecklenburg County paid Chiquita an evenly split $1.02 million that was used to match the One North Carolina Fund money from the state. That money is coming back to the city and county, says Charlotte Mayor Dan Clodfelter.

"Chiquita's leadership has assured us that the company will fulfill the obligations outlined in the economic development grant agreement," Clodfelter says in a statement.

A city/county Business Investment Grant of $728,000 promised to Chiquita was never paid to the company, says Leslie Johnson, assistant county manager.

Before he left Chiquita, CEO Ed Lonergan acknowledged that Chiquita execs were talking to local and state officials about the incentives. Those discussions were prompted by a Chiquita offer to buy Fyffes plc, an Irish fruit company, and to move the merged company to Dublin.

That's when the discussion of Chiquita repaying the incentives first surfaced. Chiquita shareholders rejected the Fyffes transaction but the incentives stayed at the forefront of discussions as Cutrale-Safra bought Chiquita in a subsequent $1.3 billion deal, which was concluded last week.

Also last week, Chiquita spokesman Ed Lloyd told me in an email that roughly $2.5 million in incentives had been paid so far to Chiquita.

Meanwhile, Bob Morgan, CEO of the Charlotte Chamber, said during a Wednesday afternoon interview that Chiquita's decision to close the headquarters is a setback.

"It's hugely disappointing," he said, but added the news should be put in perspective.

"Has Chiquita been a success for Charlotte? Absolutely," Morgan said. "This is a recruiting success story that we are going to tell for years."

Morgan says the Chiquita relocation speaks to the excellent service at Charlotte Douglas International Airport, including its overseas flights. Bringing Chiquita to town also shows that Charlotte can attract a company that was looking for international employees.

"This is not because Charlotte didn't work for the company," Morgan says. "This is because of circumstances way out of our control."

He predicted that former Chiquita employees will be able to find jobs in Charlotte after the banana company is gone.

"These people have good skills," he said. Plus, they have already made a mark in the community.

"They've bought homes and coached Little League teams," Morgan says.

[ChessieCat]

The Charlotte Chamber keeps complaining that there aren't enough large buildings in uptown to attract big corporate moves.  Well, 

 

1) Chiquita will vacate the NASCAR bldg

2) AT&T is moving to the 'burbs

3) All the new towers that will open by 2020

 

They have a lot of work to do to fill up these buildings now...

[ssh214]

Why is it your bad for posting on a subject in the thread about their HQ building with tons of discussion on them in it one post after someone mentioned them?  

 

 

 

Because why wouldn't you know it is already posted in Misc Uptown?  Everything is posted in Misc Uptown and then moved to a more appropriate thread.  

Thanks dubone!

[jednc]

The Charlotte Chamber keeps complaining that there aren't enough large buildings in uptown to attract big corporate moves.  Well, 

 

1) Chiquita will vacate the NASCAR bldg

2) AT&T is moving to the 'burbs

3) All the new towers that will open by 2020

 

They have a lot of work to do to fill up these buildings now...

 

I don't think it's inconceivable that this much space coming back to the market might hurt the chances of one of the proposed office buildings.

[ChessieCat]

I don't think it's inconceivable that this much space coming back to the market might hurt the chances of one of the proposed office buildings.

 

Exactly. Spectrum's 300 S Tryon building has an anchor tenant in Babson Capital but not the others.

 

If interest rates start to rise, financing will get that much more difficult. 

 

It's feast or famine for office towers unfortunately... 

[HopHead]

While I don't think it's inconceivable that this may hurt one of the proposed projects, keep in mind that Chiquita will vacate a little over 130k sqft of space. It's not like they are vacating an entire Hearst Tower or something like that. I don't think this news changes the thinking for Tryon Place... I would look maybe more at Portman perhaps. I've read several tweets and comments that the Charlotte Observer is a likely possibility for the Nascar plaza.

[CLTProductions]

While I don't think it's inconceivable that this may hurt one of the proposed projects, keep in mind that Chiquita will vacate a little over 130k sqft of space. It's not like they are vacating an entire Hearst Tower or something like that. I don't think this news changes the thinking for Tryon Place... I would look maybe more at Portman perhaps. I've read several tweets and comments that the Charlotte Observer is a likely possibility for the Nascar plaza.

Yeah that would make sense for the CO to move in there. I think this would hurt Portman or Trinity more than Tryon Place. I would like to think Tryon Place is all systems go, there's so much more to it than just office space as opposed to those other 2 projects.

[southslider]

AT&T building should be completely remodeled for Hilton expansion as a convention hotel. That would help reduce some of the office vacancies.

[ChessieCat]

AT&T building should be completely remodeled for Hilton expansion as a convention hotel. That would help reduce some of the office vacancies.

 

There'll be a fight if public money is used for a convention hotel, especially one that is super-sized.  The people building the current hotels (Embassy Suites, etc.) have already said so... 

[CLTProductions]

NASCAR HOF is turning into our little own money pit like the USPS. Sponsorships have absolutely plummeted, are we gonna see an abandoned HoF in the future LOL. Kidding aside, this thing is probably going to break even until the end of time. At least the building looks semi-pretty from the outside.

 

 

http://www.charlotteobserver.com/2015/01/28/5477245/nascar-hall-of-fame-sponsorships.html#.VMkZqS6LUvJ

[MilZ]

Once they convert 277 into an urban NASCAR track the HOFs fortunes will change.

[dubone]

NASCAR HOF is turning into our little own money pit like the USPS. Sponsorships have absolutely plummeted, are we gonna see an abandoned HoF in the future LOL. Kidding aside, this thing is probably going to break even until the end of time. At least the building looks semi-pretty from the outside.

 

 

http://www.charlotteobserver.com/2015/01/28/5477245/nascar-hall-of-fame-sponsorships.html#.VMkZqS6LUvJ

It's not the end of the world if it happens.   We will then have space for a new museum of a different type.  Clearly all the moves recently are to stabilize on a more realistic attendance assumption.   If it goes under, it goes under.   

 

Clearly given the low attendance, it won't be missed that much.  

[ScottCLT]

It's not the end of the world if it happens.   We will then have space for a new museum of a different type.  Clearly all the moves recently are to stabilize on a more realistic attendance assumption.   If it goes under, it goes under.   

 

Clearly given the low attendance, it won't be missed that much.

But it would be tough, considering how the building was build for the HOF. I mean, it's shaped like a race track, and I think that's pretty cool even though I couldn't care less about NASCAR. But what would another museum do with that design? I'd hate to see it go, but I just don't know how it would be applicable to anything else.

[15895]

But it would be tough, considering how the building was build for the HOF. I mean, it's shaped like a race track, and I think that's pretty cool even though I couldn't care less about NASCAR. But what would another museum do with that design? I'd hate to see it go, but I just don't know how it would be applicable to anything else.

Turn it into a WWII museum and watch schools Buses from different school districts just fill the place up. I think it would be more appealing to a broader audience, I think it could be a community asset serving the region for memorial services, etc.

id be so upset if it were turned into Convention center space though! I haven't been to the HoF. Never plan on it. I'd rather walk around the indoor mall. And if I go to a museum, the others are more appealing. It'd be nice if the HoF could just be moved to Daytona. Or on Concord motor speedway and let someone else deal with it.

[ScottCLT]

Turn it into a WWII museum and watch schools Buses from different school districts just fill the place up. I think it would be more appealing to a broader audience, I think it could be a community asset serving the region for memorial services, etc.

id be so upset if it were turned into Convention center space though! I haven't been to the HoF. Never plan on it. I'd rather walk around the indoor mall. And if I go to a museum, the others are more appealing. It'd be nice if the HoF could just be moved to Daytona. Or on Concord motor speedway and let someone else deal with it.

Like I said, I couldn't care less about NASCAR, but I have been and it was pretty cool! We had a fun afternoon there with the pit stop simulator and the racing simulators. Plus, I have to say that there is more history to NASCAR than I realized. It's not bad by all means, even if you aren't a fan like me.

[nonillogical]

Like I said, I couldn't care less about NASCAR, but I have been and it was pretty cool! We had a fun afternoon there with the pit stop simulator and the racing simulators. Plus, I have to say that there is more history to NASCAR than I realized. It's not bad by all means, even if you aren't a fan like me.

Same, it was far more interesting than I'd have thought. It might have only taken me 1.5 hours or so to do and read everything that seemed appealing but I'm sure a fan could spend the better part of a day there. 

[15895]

Same, it was far more interesting than I'd have thought. It might have only taken me 1.5 hours or so to do and read everything that seemed appealing but I'm sure a fan could spend the better part of a day there.

If I had the disposable income to not care how much it cost for me and someone else or it was heavily discounted, I would probably go and enjoy it. I'm not saying it wouldn't be a nice place to visit, but when I'm on a budget, Studio Movie Grille or the other museums, even more expensive White Water Center or Carowinds is more appealing. I just don't have the disposable income to be like "eh, I'll check out the HoF for my partner & I then maybe go watch a movie".

And I'm just saying that while I'm sure it's a nice museum, it sucks that Id imagine it doesn't draw too many field trips. Maybe it can be?

[ah59396]

Sort of on, sort of off topic.  Why is the NC Transportation Museum in Salisbury?  Something like that, in the place of the HOF, would KILL.  If I were a billionaire magician and the HOF fell through, I'd consolidate the NC Transpo museum with the Carolina's aviation museum and plop it all in the HOF.

[49er]

I really don't think you can just pick up the sort of history at the NC Transportation Museum and relocate it. Isn't the roundhouse the largest left in the US or something to that effect?  Unlike the nascar hall of fame, there's a great back story to the place, it's not a manufactured attraction. It's just unfortunate that such a neat venue is in the middle of nowhere.  

[kermit]

Sort of on, sort of off topic.  Why is the NC Transportation Museum in Salisbury?  Something like that, in the place of the HOF, would KILL.  If I were a billionaire magician and the HOF fell through, I'd consolidate the NC Transpo museum with the Carolina's aviation museum and plop it all in the HOF.

It was the Southern Railroad heavy maintenance shops, Spencer is roughly midway between DC and Atlanta, the core of the railroad at the time. It employed lots of folks and required some impressive buildings. When Southern decided it no longer needed the shops (mostly thanks to dieselization) they gifted the site to the state. As an aside, there are likely significant environmental issues there making its redevelopment for anything else unlikely.

[ajfunder]

^As stated before, the historic fabric of the NC Transportation museum is one of the critical components which make it a great museum.

[tozmervo]

It was the Southern Railroad heavy maintance shops, Spencer eas rounghly midway between DC and Atlanta, the core of the railroad at the time. It employeed lots of folks and required some impressive buildings. When Southern decided it no longer needed the shops (mostly thanks to dieselization) they gifted the site to the state. As an aside, there are likely significant environmental issues there making its redevelopment for anything else unlikely.

 

There are also renovations about to get underway at the museum to upgrade it's facilities and make it more accommodating to events.