Oklahoma City Council today approved using economic development funds to increase the budget for the MAPS 4 Multipurpose 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.
“This outcome addresses three challenges,” Mayor David Holt said. “The MAPS 4 stadium project was always funded below the level this city deserves, the project never had a budget for land acquisition, and the land south of Bricktown needs a catalyst. With adoption of this plan by the Council, we have a more appropriate budget for the stadium, 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. I want to thank the Energy FC ownership group for their offer to donate the land for the stadium, and I want to thank the City Manager, Kenny Tsoodle with the Alliance for Economic Development, Councilmen Stone and Stonecipher, everyone who was involved in this for the last two years, the Council and the committees and trusts who approved it. We look forward to the next steps and another exciting development for Oklahoma City.”
Property under contract
OKC Energy FC Ownership is under contract to purchase an area of undeveloped property south of Bricktown and east of the Oklahoma City Convention Center from the Producers Downtown Development, LLC. The ownership group plans to donate 7.2 acres of the area to the City for the stadium, which the City will own.
OKC Energy FC Ownership plans to develop the remaining area into a sports-centered entertainment district.
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.
Stadium details
The stadium design includes a United States Soccer Federation (USSF)-approved pitch, seating for approximately 8,000 guests, locker rooms and suites. The venue is expected to drive the development of a sports-centered entertainment district downtown, a model that has proven to be successful in Louisville, Kentucky, and Indianapolis, Indiana. A similar project is under construction in Pawtucket, Rhode Island.
The venue will be the City’s only stadium with a USSF-approved pitch to accommodate professional men’s and women’s soccer. When the area develops, visitors will be able to walk from restaurants, retail and housing to attend events in the new entertainment district.
About MAPS 4
MAPS 4 is a debt-free public improvement program funded by a temporary penny sales tax that will raise a projected $1.07 billion over eight years. Oklahoma City voters approved the sales tax to fund MAPS 4 in a special election on Dec. 10, 2019, moving forward with a unique and ambitious plan to transform our community. The temporary penny sales tax funding MAPS 4 began April 1, 2020, and ends in 2028. More than 70 percent of MAPS 4 funding is dedicated to neighborhood and human needs. The rest is for quality of life and job-creating initiatives. The MAPS 4 Citizens Advisory Board and its six subcommittees will guide MAPS 4 planning and implementation, making recommendations to the City Council. The Council has final authority on MAPS 4. The MAPS Investment and Operating Trust developed a strategic investment plan to support long-term sustainable funding for MAPS 4 projects' operational expenses and maintenance. Visit okc.gov/maps4 for more.