Las Vegas, planners come to terms on MLS stadium - FOX5 Vegas - KVVU

Las Vegas, planners come to terms on MLS stadium

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An artist's rendering of the exterior of a proposed MLS stadium in downtown Las Vegas. (Source: City of Las Vegas) An artist's rendering of the exterior of a proposed MLS stadium in downtown Las Vegas. (Source: City of Las Vegas)
An artist's rendering of the interior of a proposed MLS stadium in downtown Las Vegas. (Source: City of Las Vegas) An artist's rendering of the interior of a proposed MLS stadium in downtown Las Vegas. (Source: City of Las Vegas)
LAS VEGAS (FOX5) -

Las Vegas officials and those planning to build a Major League Soccer stadium in downtown agreed to terms for the plan Tuesday, according to officials.

The plan calls for the construction of a 24,000-seat stadium north of the Smith Center for the Performing Arts, that would expand Symphony Park. It would be specifically designed for Major League Soccer.

Under the terms, 69 percent of the $410 million needed to build the stadium and fund a MLS team would come from private funds, while the remaining 31 percent would be publicly funded.

Proponents said the stadium is projected to bring in more than $9 million in annual taxes and generate 1,200 jobs, 700 of which would be permanent.

"The time to bring professional sports to Las Vegas is now," said Las Vegas Mayor Carolyn G. Goodman. "The deal negotiated with Findlay Sports & Entertainment and The Cordish Companies will be a win-win for the city of Las Vegas and its residents. I love that both our partners are family-owned companies with great reputations."

The terms must now be approved by the City Council during its meeting Sept. 3.

The stadium would only be built if the Findlay-Cordish partnership is awarded an MLS team.

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