A proposed professional soccer stadium that comes with sports-centered entertainment district in Oklahoma City took another step forward on Tuesday.
The Oklahoma City Council approved using economic development funds to increase the budget for the MAPS 4 stadium from $41 million to $71 million.
The additional funding is contingent on the multipurpose stadium being located downtown, where an additional $30 million in Tax Increment Financing (TIF) and other economic development funds could pay for a portion of the stadium’s construction costs.
"With adoption of this plan by the Council, we have a more appropriate budget for the stadium," said Oklahoma City Mayor David Holt. "We can secure the donation of land, and we will provide the spark this particular property needs. That we can do all of this without general fund tax dollars is a win-win."
OKC Energy FC Ownership plans to buy and donate land in Bricktown for the stadium project.
The city says the land donation is dependent on approval from the MAPS 4 Venues Subcommittee and the MAPS 4 Citizens Advisory Board, which could take place in early spring.
