Sacramento Railyards soccer stadium plan faces key city council vote
A key Sacramento city council vote deciding the future of Republic FC's new soccer stadium is set for Tuesday.
Plans for Republic FC's new home, an expandable 12,000-seat facility, can't come to life without figuring out how to cover infrastructure in the area – things like roadways, pedestrian bike lanes, and traffic lights that the city estimates will to cost north of $90 million.
Tuesday's vote will be to approve a special tax district that the city is looking to use to cover the cost.
"I think this one is a good investment. We're not investing, subsidizing the stadium," said Sacramento Mayor Kevin McCarty.
The Railyards development will cost an estimated $321 million at least, according to city numbers, with most of it privately funded, like Republic FC's stadium and the area around it.
Developers of the project – including Indomitable Ventures, formed by Republic FC – would pay for the infrastructure costs up front, then be reimbursed through funds generated by the special tax district.
"We're subsidizing the infrastructure by giving a return on property taxes that but for this project wouldn't be generated anyways," McCarty said.
If approved by the council, the deal would commit the city to paying more than $90 million to the project developers in the form of future tax revenue from the soccer stadium and central shops.
McCarty says construction would start this year if the plan passes.
The stadium is planned to be opened by 2027.
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