From Deseret News archives:

Stadium rising: $110 million project pushing for September opening

Published: Friday, Jan. 18, 2008 12:54 a.m. MST
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"The pressure's on right now," Kimball said, explaining that a business opportunity such as this occurs in a market only once every 30 or 35 years. RSL officials are anxious to finalize everything. "We're just working through the details," Kimball said.

RSL is also courting a number of companies as founding donors and sponsors, Kimball said. None of the companies' names have been made public, but large financial corporations and cellular-wireless companies are also being considered. Restaurant companies are being courted for participation in the project, Kimball said.

Cooperation between Sandy and RSL is going well, officials from both RSL and the city said. The final piece of the stadium funding puzzle — a $10 million tax-increment funding bond — was submitted to the Salt Lake County Council a few weeks ago.

Sandy has not heard back from the county but expects a hearing on the issue to be scheduled in the near future, said Dolan. Sandy is required to get the $10 million in funding to RSL by July 1, Dolan said.

The city will issue the $10 million bond, Sant said. Money to repay it will come out of property taxes paid by RSL, he said. Taxpayers will pay no part of it.

However, state law requires Sandy to create an interlocal agreement to push the funding through.

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The county, Sandy city and several smaller tax districts that oversee water, sewer and mosquito abatement entities must approve the deal.

Looking forward

Practice facilities for the team have yet to be decided upon, but RSL is in negotiation to purchase property in various spots around the county. The final practice schedule will be set by coaches, but the team will likely practice on the field only a few days before each game, Fitz-Gerald said.

RSL hopes to lease a practice field for visiting teams through the Jordan School District, RSL project manager Mike Steel said.

Plans for a promised Soccer Academy in Utah also have not been finalized, Fitz-Gerald said. RSL has given $7.5 million for a Salt Lake Regional Athletic Complex, which will be added to $15.3 million that is to be bonded for by Salt Lake City for the complex. Voters approved that bond in 2003.

RSL also may give $15 million for land purchase in exchange for the ability to operate the site, according to a letter from then-outgoing Salt Lake City Mayor Rocky Anderson to new Mayor Ralph Becker. RSL officials said the company has not formally offered that deal but discussions are ongoing.

Officials hope to work closely with Becker and the Legislature in coming months to finalize academy project details, Fitz-Gerald said.

Security measures for the stadium have not been decided upon, but RSL plans to hire a private security firm to keep its guests and property safe. A security building south of the stadium is part of its master plan but hasn't yet been started.

In addition, development plans for the second phase of the project have not been finalized, but both Sandy and RSL are courting offers, their respective officials said.

The development, part of Sandy's plan for an entertainment district, will eventually encompass 182 acres between State Street and I-15, and 9000 South and 9400 South. It may take years to finish, said Sant.


E-mail: rpalmer@desnews.com

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