At its meeting Tuesday evening, Modesto’s City Council will debate if it should continue negotiations for a professional soccer stadium. The council will also be presented a study’s findings that a stadium may not be financially possible.
For nearly two years, the soccer stadium was discussed as a way to revitalize downtown, increase tax revenue and drive tourism to the area. But a consultant agency hired by the city, Kosmont Companies, now says the project faces “serious obstacles” in being able to pay for it.
“Moving forward with the construction of a downtown stadium project might be feasible based upon several scenarios that must play out exactly as planned or there could be a real risk in placing a large amount of generational debt upon the city,” read an agenda report prepared by city staff for the council…