Greenstone Properties has been working for over a year to bring a new stadium to the downtown area, tonight there was a public meeting at the proposed site on the corner of American Boulevard and Shoreline Drive.
The proposed stadium would have 5,000 seats and serve as the new home of the Boise Hawks Minor League team, it would be a requirement to bring a United Soccer League team to the Treasure Valley and the sports park would serve as an outdoor venue for concerts and other community events.
The stadium would have an estimated construction cost of $40 million that would be paid for by private and public partners, which includes the City of Boise who would contribute $3 million through the annual budget process.
Greenstone Properties, an Atlanta based company would include $5.8 million, however, $4.8 million would be counted as land the developers would give back to the city.
The Greater Boise Auditorium District would contribute $5 million that is generated from room tax money that primarily comes from people that visit Boise.
The remaining sum would be paid through a 20-year bond that would include property tax from the commercial and residential development Greenstone plans to build next to the stadium and the annual lease from the sports teams who would use the facility, the city would own the rights to the sports park.
The developer also considered a sports park near the corner of Main Street and White Water Boulevard, a potential spot for a new College of Western Idaho campus.