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Plans race along for Louisville City FC’s new soccer palace

By Chuck Wharton

STARKVILLE, MS - OCTOBER 21: Mississippi State Bulldogs fans cheer during the first half of an NCAA football game against the Kentucky Wildcats at Davis Wade Stadium on October 21, 2017 in Starkville, Mississippi. (Photo by Butch Dill/Getty Images)
STARKVILLE, MS - OCTOBER 21: Mississippi State Bulldogs fans cheer during the first half of an NCAA football game against the Kentucky Wildcats at Davis Wade Stadium on October 21, 2017 in Starkville, Mississippi. (Photo by Butch Dill/Getty Images) /
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No and yes. That answers your question whether the city really wants to build a $160 million USL stadium for Louisville FC.

No. Louisville FC’s stadium isn’t just for the USL (United Soccer League). Because in the future, the area intends to get the MLS playing in there. But yes. The USL will enjoy drawing eager crowds to games in that trendy area called Butchertown.

Louisville Courier-Journal reporter Danielle Lerner covered the next-to-last step in getting the 10,000-seat stadium done.

"Lerner: The city is on the hook for a $30 million bond, which will mature to $42 million. And the soccer club’s owners are required to spend at least $130 million in private capital on the development and will pay back $14.5 million to the city."

As I reported five months ago, architectural firm HOK designed the structure to expand to 20,000 seats for first-tier soccer, Louisville City FC Chairman John Neace says.

USL Stadium funding approved

Louisville Metro Council approved part of the funding last week, plus passed an ordinance to apply for a Tax-Increment Financing (TIF) district around the 40-acre stadium-shopping-entertainment site.

"Lerner: The city expects to reap $12 million from the TIF district over 20 years, according to the development agreement. Louisville City FC board member Tim Mulloy said the club hopes to get the TIF approved by May."

I know what you’re thinking. Butchertown land investors must be raising their asking prices through the roof, waiting for Louisville City FC and Metro authorities to ask about buying. Right?

They already thought of that. The city targeted four landowners and optioned the property quite a while back. They have exclusive rights until November 10.

Louisville City FC study promises big returns

Furthermore, Louisville City FC completed a study that this project will reap $13 million a year in tax revenue, with 2,500 new jobs. The broader $185 million Butchertown project could yield $1.8 billion in labor income, with $261.4 million in state and local tax revenue over 20 years.

Simplified, they believe USL fans would attend games, before or after recreation within the 40-acres, or nearby areas such as Louisville’s Waterfront Park. Out-of-towners would stay in the hotels and dine in the immediate area.

That all banks only on the 10,000-seat soccer palace. Once Louisville City FC makes MLS status, the economics get amplified.

Once this stadium opens in the year 2020, it will take up 20-percent of the $200 million plan for Butchertown, once home to legendary inventor Thomas Edison, followed by industrial development.

Next: USL Conference Semi-finals Report

Edison didn’t stay in the area long. The soccer fans who come here can visit his historic home. With these enthusiastic entertainment plans, expect them to stay awhile.

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