. - LOUISVILLE, KY (WAVE) - In horse racing parlance, Louisville Metro Council would hit a trifecta if it approves a $30 million bond ordinance Thursday to buy the land and add infrastructure for the Louisville City FC team to build a 10,000-seat stadium, enabling the team to continue to play in the United Soccer League, and perhaps one day advance to the Major League Soccer.
It can do neither by playing at Louisville Slugger Field beyond 2019.
The resolution requires nearly half of the bond be paid back by the club.
The trifecta would be a private partnership with the city that would significantly improve a blighted area in Butchertown that is a gateway to the city, and according to a study conducted for the team, create nearly 2,500 jobs annually from plans to also add hotels, restaurants, retail, and office space around the stadium, as well as yield more than a $250,000 in local and state tax revenue and nearly $2 billion in labor income over two decades.
The study pegs the total economic impact at more than $300 million.
The soccer team has been a winner on the field – making the playoffs all three years – and generating attendance as well as anyone in the league. We applaud their success and their efforts to use it to make our community a more attractive place.
We also hope the field could one day become home to Kentucky's high school state championship games.