The Houston Dynamo is one step closer to getting a new stadium, officials announced Thursday.
The Harris County-Houston Sports Authority and the Dynamo have agreed on a 30-year lease to build a new downtown soccer stadium.
"The Dynamo stadium will help revitalize the East End, creating jobs and business opportunity without issuing bonds or incurring any public debt," HCHSA Chairman Kenny Friedman said. "This agreement will bring a world-class facility to our community without burdening taxpayers."
Under the agreement, the city and county will contribute the land for the stadium, while the Dynamo will pay for construction and maintenance. The Harris County-Houston Sports Authority will act as landlord for the new stadium.
The new stadium will also be home for the Texas Southern University football team and an outdoor entertainment venue for Harris County, officials said.
Houston City Council and Harris County Commissioners Court must still approve the agreement.
The proposed $95 million project is scheduled to be opened in April 2012. The Dynamo currently play at Robertson Stadium at the University of Houston.