Dynamo Stadium has been in the works for a long time, but depending on how things go this month, there might be some light at the end of the tunnel.
[T]he Dynamo view this month as pivotal in their quest to go from a routine archeological dig to a bowl excavation and from renderings to the real thing — all the while staying on schedule and on budget.
“May is a make-or-break month,” [team president Oliver] Luck said. “In the sense that it is important we get into this building by 2011.
“To use a soccer analogy, we’re in extra time now.”
The Dynamo want to have the roughly $85 million, 22,000-seat stadium ready for opening day 2011. They envision an all-round two-level, all-seater venue with 34 suites, 86 concession point-of-sales, a 3,000 square-foot club level and a party deck on the southeast corner.
For it to be ready on schedule, work on the 16- to 18-month project would have to start no later than this fall.
For that to happen, Luck said, the team will need to complete its financing package agreement with the city and have the county, by way of Commissioners Court, vote in favor of contributing $10 million to the project (an amount similar to what the city would contribute) by joining the city’s East Downtown Tax Increment Reinvestment Zone, which includes the site.
“No one wants to commit until all the financing is lined up,” Luck said.
The Dynamo could check the city off their to-do list this month. The city and team ownership have concurred the parties are close on most points. Getting the county on board might take longer. Though discussions are ongoing, there has been no signal from the county commissioners suggesting the issue will be added to Commissioners Court agenda any time soon.
The good news for the Dynamo is that they secured the financing to cover the city and county’s share of the price, which will be rebated to them in the form of TIRZ revenues, assuming both bodies approve that plan. Because of that, they should be in a position to go forward even if Commissioners Court drags its feet. Seems like this has already gone on forever, but the end is getting closer.