Panthers terminating Rock Hill project agreements

[Ja Rhule]

York County officially sued both Tepper and Rock Hill.  
 

Rock Hill mayor said yesterday that Tepper played dirty and the one who derailed the whole project.  Said it’s only the beginning.  Sounds like Rock Hill is planning on suing Tepper as well.

[Tbe]

https://www.wcnc.com/amp/article/sports/nfl/panthers/carolina-panthers-rock-hill-york-county-south-carolina-david-tepper-lawsuit-training-facility/275-ddfc7ac6-68e5-4cf2-94d8-2685e2be4967
 

The lawsuit also blames the city of Rock Hill for failing to issue the required bonds, leading to the project's failure. The suit states this led to Tepper and Rock Hill pointing fingers over whose fault it was, harming York County and its taxpayers. 

[poundaway]

18 minutes ago, Tbe said:

https://www.wcnc.com/amp/article/sports/nfl/panthers/carolina-panthers-rock-hill-york-county-south-carolina-david-tepper-lawsuit-training-facility/275-ddfc7ac6-68e5-4cf2-94d8-2685e2be4967
 

The lawsuit also blames the city of Rock Hill for failing to issue the required bonds, leading to the project's failure. The suit states this led to Tepper and Rock Hill pointing fingers over whose fault it was, harming York County and its taxpayers. 

The county is suing Rock Hill for not issuing the bonds.   Fascinating.

There will be discovery and evidence presented, we should get to know a lot more about how this went down.

[CRA]

Sounds like the county beef is primarily with Tepper. County is alleging Tepper took and the used their money for purposes outside of their agreement (roads).  

RH get included largely because the Tepper/RH squabble is what sank the overall project. 

I think the discovery on the bond issue is going to make both Tepper and RH look pretty bad 

[poundaway]

County has to live with the city forever and some of the politicians and political organization flow back and forth.

 

[fjblair]

Tepper poo the bed on this one.

[Tbe]

Slightly more detail…

the lawsuit states. “The Tepper Defendants directed the misappropriation of $21 million of statutorily restricted, public funds from their stated purpose,the expansion of a roadway in York County, and improperly utilized these funds on their failed vanity project, the Carolina Panthers’ headquarters and practice facility. Rather than cover the ballooning project budget themselves, the Tepper Defendants took money from York County and its taxpayers.”

Now in the lawsuit, York County blames both Tepper’s companies and Rock Hill for the $21 million loss.

“Ultimately, the City of Rock Hill failed to issue the required bonds, the development project collapsed, and the City and the Tepper Defendants were left blaming each other for the failure,” the lawsuit states. “Both the City and the Tepper Defendants have harmed York County and its taxpayers, and the County should be made whole.“

 

[Ja Rhule]

10 minutes ago, Tbe said:

Slightly more detail…

the lawsuit states. “The Tepper Defendants directed the misappropriation of $21 million of statutorily restricted, public funds from their stated purpose,the expansion of a roadway in York County, and improperly utilized these funds on their failed vanity project, the Carolina Panthers’ headquarters and practice facility. Rather than cover the ballooning project budget themselves, the Tepper Defendants took money from York County and its taxpayers.”

Now in the lawsuit, York County blames both Tepper’s companies and Rock Hill for the $21 million loss.

“Ultimately, the City of Rock Hill failed to issue the required bonds, the development project collapsed, and the City and the Tepper Defendants were left blaming each other for the failure,” the lawsuit states. “Both the City and the Tepper Defendants have harmed York County and its taxpayers, and the County should be made whole.“

 

Tepper directly borrowed from the county $21M and then decided not to pay back.  
It’s like you asking your friend for a small loan to pay for the car but later default on car loan anyways and use that as excuse not to pay your friend back any money.

[CRA]

15 minutes ago, poundaway said:

County has to live with the city forever and some of the politicians and political organization flow back and forth.

 

and of course, Tepper is the one actually accused of misusing the funds.  Tepper was the one w/ the control of their money.  Not RH. 

[Ja Rhule]

Tepper is doing great things in Charlotte community by misusing tax payers funds. #legend

[gofightwin]

4 minutes ago, Ja Rhule said:

Tepper directly borrowed from the county $21M and then decided not to pay back.  
It’s like you asking your friend for a small loan to pay for the car but later default on car loan anyways and use that as excuse not to pay your friend back any money.

The money went into a general construction fund.  Money was spent.  Road not finished because project halted.  Of course they have a claim but Tepper will claim that if RH gave them the money to finish the project, they would have completed the road.  They have to go after Tepper because that is where the money went...but make no mistake about why RH is listed as a defendant.  

[CRA]

13 minutes ago, gofightwin said:

The money went into a general construction fund.  Money was spent.  Road not finished because project halted.  Of course they have a claim but Tepper will claim that if RH gave them the money to finish the project, they would have completed the road.  They have to go after Tepper because that is where the money went...but make no mistake about why RH is listed as a defendant.  

and their 21 million per the agreement was for the 21 million to only to be used on the roads.  It was used for other things. 

and I don't think people understand how bonds work.   RH doesn't just pull them out of thin air.  Tepper has a role in the bonds coming to fruition too.   Yet somehow people skip right past that.  RH alleged Tepper was problematic in that avenue.   I think they both will look bad in the end on the bond issue. 

[poundaway]

30 minutes ago, CRA said:

and of course, Tepper is the one actually accused of misusing the funds.  Tepper was the one w/ the control of their money.  Not RH. 

That they are suing the billionaire who just declared bankruptcy and will probably never do business with York County or RH again is not surprising.  They are trying to maximize their relief and save face.

York County suing RH is not something I ever saw coming.

Claiming in the lawsuit "Ultimately, the City of Rock Hill failed to issue the required bonds, the development project collapsed"

You can argue with York County over who's fault this is.  Sorry I'm not joining your  Tepper ragefest.

[Mr. Scot]

1 hour ago, CRA said:

Sounds like the county beef is primarily with Tepper. County is alleging Tepper took and the used their money for purposes outside of their agreement (roads).  

RH get included largely because the Tepper/RH squabble is what sank the overall project. 

I think the discovery on the bond issue is going to make both Tepper and RH look pretty bad 

Definitely feels like it's gonna be interesting.