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Union Omaha gets the green card from Nebraska to use the turnback tax to build a new stadium. It means the stadium can use 70% of new state sales tax generated near it to support the project. That only applies for a limited area and time: up to $1.25 million per year for 20 years. ‘Valuable for our community’: New details on ‘Stadium District’ project in downtown OmahaIn all, the stadium will cost about $140 million and is planned for a site near Charles Schwab Field. Union Omaha plans to also use TIF, the occupation tax, and city financing to help pay for it all. The team wants to have it open by 2028. Omaha Mayor John Ewing Jr. applauded the approval in a statement.”Omaha is on the move. The vote today pushes forward a critical development for the city – the new Union Omaha stadium and mixed-use project. I am so excited to see the state recognize the importance of this project. It’s not just a future home for professional soccer, but the stadium development also represents major capital investment in our city and our state,” Ewing said. “The votes today supported one bookend for the sport of soccer and the economic development potential for Omaha. We are disappointed that the state did not also support the other bookend, the Tranquility Park development. We will continue investing in our youths and the market for youth sports. Given the need for this project and our faith in the benefits for Omaha and Nebraska, the city will continue moving forward with plans to create a more competitive youth soccer landscape. For this project, we will have to find ways to reduce costs and increase revenues.”Make sure you can always see the latest news, weather, sports and more from KETV NewsWatch 7 on Google search.NAVIGATE: Home | Weather | Local News | National | Sports | Newscasts on demand |
Union Omaha gets the green card from Nebraska to use the turnback tax to build a new stadium.
It means the stadium can use 70% of new state sales tax generated near it to support the project.
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That only applies for a limited area and time: up to $1.25 million per year for 20 years.
‘Valuable for our community’: New details on ‘Stadium District’ project in downtown Omaha
In all, the stadium will cost about $140 million and is planned for a site near Charles Schwab Field.
Union Omaha plans to also use TIF, the occupation tax, and city financing to help pay for it all.
The team wants to have it open by 2028.
Omaha Mayor John Ewing Jr. applauded the approval in a statement.
“Omaha is on the move. The vote today pushes forward a critical development for the city – the new Union Omaha stadium and mixed-use project. I am so excited to see the state recognize the importance of this project. It’s not just a future home for professional soccer, but the stadium development also represents major capital investment in our city and our state,” Ewing said. “The votes today supported one bookend for the sport of soccer and the economic development potential for Omaha. We are disappointed that the state did not also support the other bookend, the Tranquility Park development. We will continue investing in our youths and the market for youth sports. Given the need for this project and our faith in the benefits for Omaha and Nebraska, the city will continue moving forward with plans to create a more competitive youth soccer landscape. For this project, we will have to find ways to reduce costs and increase revenues.”
Make sure you can always see the latest news, weather, sports and more from KETV NewsWatch 7 on Google search.
NAVIGATE: Home | Weather | Local News | National | Sports | Newscasts on demand |
