LV City Council holds off vote on downtown soccer stadium

 LAS VEGAS -- The Las Vegas City Council voted to hold off on approving a term sheet and funding agreement for the proposed soccer stadium downtown.

The council did direct staff to continue working towards a development agreement with the Cordish Companies and Findlay Sports & Entertainment. They also directed staff to conduct public outreach about the project.

The project will come back before the council Oct. 1.

The proposed stadium would house a Major League Soccer team. The plan is to build the stadium just north of the Smith Center for Performing Arts. Supporters of the stadium and MLS rallied at Las Vegas City Hall Wednesday morning to show support for the project.

The stadium would accommodate up to 24,000 fans, be partially covered and include state-of-the-art concession and fan entertainment. 

The total cost of the project, including the team and the stadium, is $410 million. Of that cost, 69 percent will be paid for through private funding and 31 percent will be publicly funded. The public funds will come through taxes on tourist and bonds.


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