Charlotte Council To Vote On Affordable Housing, Lowe's Tech Center Grant
Charlotte City Council could approve millions of dollars in spending on economic development and affordable housing initiatives Monday night.
The council’s agenda includes a public hearing and vote on a business investment grant for more than $6 million to Lowe’s Companies. The money would help the home improvement retailer open its planned global technology headquarters in Charlotte’s South End. Mooresville-based Lowe’s said last month that it plans to eventually hire more than 1,600 people to help staff the center.
Mecklenburg County government is expected to contribute more than $10 million in grant money for development of company’s tech hub. In total, Lowe’s could receive more than $72 million in state and local incentives.
Construction is scheduled to begin next month on a 23-story office tower in South End that will include the Lowe’s technology center.
Also Monday, council is scheduled to vote on whether to spend $12.8 million from the city’s Housing Trust Fund and donate land for eight affordable housing projects. Mayor Vi Lyles, speaking last week on WFAE's "Charlotte Talks," said she hopes for a "unanimous" vote on the measure.
“I think we’ve talked about this for so long that finally getting projects that are going to come out of the ground in 2020 is an important thing to build trust with the community,” Lyles said.