Winston-Salem Finance Committee Meeting Summary - August 12, 2025
Winston-Salem Finance Committee Meeting - August 12, 2025
The Finance Committee met at 4:00 PM on August 12, 2025, chaired by Council Member Robert C. Clark. The committee approved a consent agenda and three general agenda items, including grants for the 2026 Cook Out Clash, stream restoration at The Grounds, and economic development assistance for The Grounds infrastructure.
Consent Calendar
- Approved unanimously: eight items including an easement for a civil rights trail marker, purchase of fire trucks and a rescue vehicle ($2,336,536.00 to Atlantic Emergency Solutions, Inc. and $1,893,453.30 to First Choice Fire and Safety), automated leaf collection trucks and rear-loading refuse trucks ($1,483,804 to Carolina Environmental Systems), sole source emergency shelters ($74,992.26 through NCEM Homeland Security Grant Program), Leinbach Drive culvert replacement ($848,189.75 to Mountaineer Contractors, Inc.), Gemeinhaus and Distiller’s House repairs ($512,356 to Midwest Maintenance, Inc.), annual blanket purchase orders for sole source information systems vendors, and FY2025-2026 budget ordinance amendments.
Discussion Items
G1 - Major Events Fund Grant for 2026 Cook Out Clash
- Ben Rao reported that NASCAR and the city received a state Major Events, Games and Attractions Fund grant reimbursing up to 50% of qualifying expenses (maximum $1.6 million) for the 2026 Cook Out Clash at Bowman Gray Stadium on February 1, 2026. The city serves as the pass-through entity for the funds. A motion to approve passed unanimously.
G2 - NC Land and Water Trust Fund Grant for The Grounds Stream Restoration
- Ken Millett presented a $787,662 grant from the North Carolina Land and Water Trust Fund for restoration of a 2,150-foot tributary of Silas Creek at The Grounds development. No city match is required. Councilmember Clark expressed strong support, noting the project will create a water feature and destination location similar to Winston Lake and Salem Lake. A motion to approve passed unanimously.
G3 - Economic Development Assistance of $4 Million for The Grounds
- Ken Millett explained that Carter/Front Street Capital (CFS) requested $4 million from the city and $4 million from Forsyth County to cover infrastructure cost overruns beyond the existing $35 million state grant. The city’s $4 million would come from proceeds of a prior land sale (2018 GO bond funds) restricted to economic development. CFS value-engineered $11.3 million from the scope, leaving a smaller gap, and is contributing $4-5 million of its own funds. The project is projected to generate $1.3 billion in total business sales over 10 years, $37.7 million in state taxes, $27.5 million in local taxes, and 542 direct net new jobs. First-phase capital expenditures are $200 million, with subsequent phases totaling $300 million. A provision requires the developer to cover any shortfall between net new property taxes and the city’s debt service over 10 years. Developer representatives Coleman Team and Adam Parker presented visuals and emphasized the project’s community benefits, including a restored stream, multi-use path, and Deacon Boulevard safety enhancements. A public hearing was set for the September 2, 2025 City Council meeting. A motion to approve and forward to full council passed unanimously.
Key Outcomes
- Consent calendar approved unanimously.
- G1 (Cook Out Clash grant) approved unanimously.
- G2 (Stream restoration grant) approved unanimously.
- G3 ($4 million economic development assistance for The Grounds) approved unanimously, with public hearing scheduled for September 2, 2025.
Meeting Transcript
Please have a seat and we'll get going. Let me get fellow loads. All right. Y'all give me okay, got it. It's been two months since we've done this. I've forgotten what we're supposed to be doing here. Okay. This is the August Finance Committee meeting. Uh if the city clerk will please call the roll. Chairman, Councilmember Clark. Here. Mayor Pratim Adams. Here. Councilmember Scipio. Here. Councilmember Taylor. President. Thank you, everybody for being here. And we have not as popular as we thought. No visitors today. The mayor is here. He doesn't count, but he's here. We'll start with a consent agenda. Anybody have anything they want to pull off consent? I'm not hearing any. I move for approval of the consent agenda. We have a motion to have a second, please. Second. All in favor say aye. Aye. Any opposed? That is approved. So the consent is done. All right. Item G1. You can stay if you want. I was going to say wait a minute. We got cookies. I think we had the plague. Okay, we will now go to G1. City Clerk, please read G1. Item G1, consideration of items related to North Carolina major events, games, and attractions fund. Mr. Rao, you have the floor. Ben, go ahead. Good afternoon, Chairman Clark, Mayor Joins, Mayor Pro Tempori Adams, members of council. So on July 9th, uh NASCAR announced that they were going to bring back the cookout clash to Bowman Gray Stadium for the two to kick off the 2026 season on February 1st, 2026. NASCAR along with the city submitted a joint application to the State Department of Commerce for another major events, games, and attractions fund grant. And they received word on July 18th that they have been awarded the grant that would reimburse uh NASCAR for up to 50 percent of the qualifying expenses for uh the 2026 clash up to 1.6 million dollars. Uh if you recall they submitted an application, it was actually the first ever uh grant application under this fund uh for the 2025 clash and received a two million dollar grant uh for for this past February's event, and that covered about 80 percent of qualifying expenses.
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