The Houston Dynamo received the county's approval for a new stadium east of downtown on Tuesday, KPRC Local 2 reported.
Under the agreement between the team, county and city, the Dynamo will construct the 20,000-seat stadium and put in about 75 percent of the funding, about $60 million. The city and county would be co-owners, chipping in about $20 million. The county will pay for half of the land under the stadium and about $10 million toward infrastructure.
The city of Houston has also formally approved the deal.
The Harris County Sports Authority will oversee the construction and become the property's manager once it is completed.
Project leaders said the plan has other benefits. Texas Southern University could use the stadium for football games and the city and county would raise funds to donate to homeless programs near downtown.
The stadium will start being built in October and is expected to be completed by April 2012, in time for the team's 2012 season.