Metro Council to vote on proposed soccer stadium Thursday - WDRB 41 Louisville News

Metro Council to vote on proposed soccer stadium Thursday

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LOUISVILLE, Ky. (WDRB) - Metro Council is set to vote Thursday night on a bond issue to buy land for a new soccer stadium.

The council was originally supposed to vote earlier this month, but that was delayed after some council members said they felt rushed.

In a four-to-one vote last week, Louisville Metro Government's Budget Committee approved a $30-million bond issuance. $25-million of that would be used to purchase the 40-acres of land for the stadium in Butchertown. The other $5-million would help build infrastructure.

Louisville City F-C is expected to repay about half of that money over twenty years.

Officials say the idea for a new stadium is all part of a $200-million dollar development that would include restaurants, retail, and two hotels. The Labor and Economic Development Committee voted last week to table a decision regarding the project's Tax Increment Financing. That would give a percentage of taxes from restaurants and retail back to the team - similar to the Yum! Center and Omni Hotel agreements.

The city would not pay for the 10,000 seat stadium - only the land.

A public meeting is scheduled for 7:00 Thursday night at the Franklin Street Church.

The full Metro Council is scheduled to vote at their meeting at 6:00.

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