LOUISVILLE, Ky. -- Louisville City FC gets some state money for their Butchertown stadium.
LouCity FC has secured $21.7 million in tax increment financing for the stadium project, allowing the project to proceed as planned. According to a release from the team, the TIF funds will flow to the team as the stadium generates revenue with the money to be used to service the debt on the stadium.
A map of the TIF district on the Metro Council website shows there is currently no revenue generating entities in the district.
The stadium and surrounding retail development carries an estimated price tag of $193 million and is funded by LouCity's investors and traditional bank financing.
Metro Government estimates the project could have a total economic impact of $3.8 billion over the 20 year life of the TIF district.