SANDY — It's taken half a year of negotiations, but Real Salt Lake will finally have the Legislature-promised $35 million for construction of their soccer stadium site come Thursday.

The Sandy City Council on Tuesday was slated to vote on four crucial agreements to finalize a deal with Real. That deal, approved by lawmakers in February, gives Salt Lake County's cut of hotel tax dollars to the team for purchase of land, infrastructure and parking.

But because over 160 pages of loan documents from Real's financier iStar had been sent in late Tuesday and not reviewed by the council, a special meeting has been set up Thursday at 5:30 for the council to authorize an issuance of those bonds.

That final agreement is expected to be passed fairly quickly and those bonds will still be issued next Tuesday for Real's use on their $110 million stadium.

"This is the result of literally years of work and thousands and thousands of man hours," said Dean Howes, Real's CEO. "I feel good that the project can take another giant step forward."

Real will officially get that $35 million once Sandy closes on the property. The state will own the land and Real must stay at the location for 25 years or be forced to pay back the bonds.

"I really don't know what else we could have done to protect this public investment," said Randy Sant, Sandy's economic development director. "This is the most prudent thing for us to understand as Sandy City."

Of that $35 million, $20 million of it will be used for land purchase, roughly $6.8 for site work, $4.1 for parking, $1.4 for public access areas like roads, $1.3 for off-site improvements like storm drains and $800,000 in architecture and engineering fees. About $500,000 is being used for the cost of the bonds. New-York based All Points Funding is purchasing the bonds, while George K. Baum is the underwriter.

Real will own the parking and parts of the infrastructure — so the city can receive property tax from the soccer team for those site projects.

Sandy has also made sure they will continue to make bond payments if the hotel tax dollars ever fall short. Because tourism dollars fluctuate, if in a certain year hotel tax dollars don't meet payments, Sandy will compensate that gap through various methods.

A stabilization fund will be set up, where surplus hotel room tax dollars will be placed to be used for any funding shortfalls. Sandy will use a debt service reserve worth $80,000 from their Redevelopment Agency funds. Sandy City has also agreed to chip in funds.

The latter two city sources will be used through loans, meaning hotel room tax money will eventually replenish the funds.

Council members had few concerns with the agreements Tuesday. Councilman Steve Smith, however, voiced opposition to a line in the development agreement that says if Real leaves the state because Major League Soccer folds, they would not have to pay back the bonds.