Louisville City FC one step closer to soccer stadium approval - WDRB 41 Louisville News

Louisville City FC one step closer to soccer stadium approval

Posted: Updated:
LOUISVILLE, Ky. (WDRB) -

Louisville City FC is one step closer to having its own soccer stadium.

A Metro Council committee approved a financing plan for the stadium Thursday, but some still question the deal.

The soccer stadium in Butchertown is a $30 million investment by the city. Investors say the team must have its own stadium by 2020 to stay in the United Soccer League.

"It's $30 million, but half of that is going to be paid back, so it leaves it at about $15 million," said investor Mike Mountjoy. "The economic impact, in one study, shows $88 million just to the city."

On Thursday night, Metro Council's Labor and Economic Development Committee approved the next step. It voted, 4-1, to ask the state for TIF assistance for the stadium.

With future tax revenues from surrounding developments, the plan will help developers cover some of the costs of the project.

But some council members still have questions and expressed feeling rushed to make a decision.

"I'm leaving the meeting today wondering, what's wrong with the deal?" asked Councilman Kevin Kramer, (R) District 11. "If there's no reason to push this, and yet we're pushing it, what's wrong with the deal?"

Council is expected to take a final vote at its meeting next week. Soccer club investors said they would answer any questions in the week leading up to the vote.

Related Stories:

Copyright 2017 WDRB Media. All rights reserved.

  • Sign Up for WDRB's Sports Newsletter

    * denotes required fields

    Thank you for signing up! You will receive a confirmation email shortly.
Powered by Frankly
All content © Copyright 2000 - 2017 WDRB. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.