On Jan. 4, the Downtown TIF Review Committee will consider using economic development funds to increase the budget for the MAPS 4 Multipurpose Stadium from $41 million to $71 million.
The proposal 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.
The proposal will be considered by the Oklahoma City Oklahoma City Economic Development Trust on Jan. 5 and City Council on Jan. 16.
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.