This coming Tuesday the Sacramento City Council has on its agenda a term sheet outlining the construction of a $180 million soccer stadium in the downtown rail-yard.
The term sheet does not call for any additional funding for the stadium other than the $46 million already spent or earmarked for general infrastructure improvements of the rail-yard.
The term sheet outlines some of the details of the project. Sac Soccer and Entertainment Holdings, according to the term sheet, will be totally responsible for the costs of the stadium. They will build as many as 6,500 parking spaces in garages close to the proposed stadium. In addition, depending on how the stadium parking will be organized the city could have the opportunity to receive as much as half of all future parking revenues in other lots in the vicinity.
The proposed stadium will have 25,000 seats, 3100 of which will be premium and 500 for standing room only. The rest will be general seating. The stadium will also be used for other sporting events aside from soccer, as well as concerts and other “large-scale” events. The term sheet outlines that the city would have use of the stadium as many as four times each year for city-centered events.
The term sheet also describes that the project will have to go through a usual environmental impact review.
Sac Soccer and Entertainment Holdings, which owns the Sacramento Republic FC soccer club, is listed as the developer of the stadium. They will eventually create a separate entity which will operate the stadium.