Retired Bank of Americas vice president Jim Palermo testified this afternoon about Charlotte Center City Partners.

The group is a nonprofit that receives tax money to promote downtown Charlotte.

Palermo, who was chairman of the group, said that beginning in 1998 it was looking for a location that was more visible downtown, reports Ryan Beckwith.

The group approached then Jim Black about a building he owned on Tryon Street in 1998-99.

By the summer of 2000, the group had already moved to a new location, he testified.

He also said he would not have asked a landlord for proof that he had money to make improvements.

That raises questions about Black's claim that he needed $500,000 to make improvements to his building for Center City Partners.

Under cross examination, Palermo said he had to check the date of the move with staff of the Center City Partners.

Former House Speaker Jim Black was asked in state court this morning about the $500,000 that he received from an unidentified lobbyings.

Black said he called the lobbyist because he had heard the lobbyist was raising cash for him. Black said he told the lobbyist to stop.

Black said he accepted the money as a loan from the lobbyist because he didn't want to switch his banking business from First Citizens to get the loan from another bank.

UPDATE: Black said he got a $500,000 loan on June 28, 2000, to help him negotiate with Charlotte Center City Partners to rent space in a building Black owned in Charlotte.

Black said Bank of America was pressuring him bring all its business to him.

Black said his "buddy" in Raleigh offered the money. That would be the still unidentified lobbyist.

He said the deal fell through over the amount of rent.