Port St. Lucie City Council has given preliminary approval to a 50-year operating agreement for a professional soccer stadium at Walton & One, sparking significant discussion about the project’s cost, safeguards, and the impact on local taxpayers. The proposed stadium, designed to host a USL League One team, has become a focal point for residents concerned about public-private partnerships and fiscal responsibility. The stadium proposal was thoroughly debated at a recent city meeting, highlighting both the enthusiasm and reservations among community members.

Port St. Lucie Soccer Stadium: Key Details and Financial Structure

The main keyword, Port St. Lucie soccer stadium, is at the center of the city’s latest development plans. According to City Council documents, the stadium is expected to seat 6,000 people on a 6-acre site at Walton & One, with a target opening date in 2027. The stadium’s estimated cost has risen to $80 million, up from an initial estimate of $55 million. City leaders believe that this substantial investment could boost Port St. Lucie’s economy and foster new opportunities for local businesses and residents.

Funding Sources and Taxpayer Protections

According to City Council, the city will reimburse Ebenezer Stadium LLC up to $27.5 million over 20 years, starting one year after the stadium opens. The reimbursement is capped at $27.5 million, regardless of future cost increases. Importantly, officials stated that this funding comes exclusively from existing City of Port St. Lucie Community Redevelopment Agency (CRA) tax increment financing funds. No money will be drawn from the general fund or from new taxes.

• Estimated stadium cost: $80 million
• Maximum city reimbursement: $27.5 million over 20 years
• Funding source: Existing CRA tax increment financing
• Annual payment approval: Each payment requires City Council approval
• Seating capacity: 6,000 seats
• Target opening: 2027

Safeguards Built into the Port St. Lucie Soccer Stadium Deal

City officials emphasized that the agreement includes several safeguards to address concerns about failed public-private partnerships and protect taxpayers from undue risk. According to Councilman Anthony Bonna, the deal structure ensures the city is either financially neutral or benefits in every scenario.

Performance Bond and Risk Mitigation

One of the most significant protections is a 120% performance bond. According to the City Council, if construction starts but is not completed, the city can call the bond to finish the project. There will be no liens allowed against city land, and no general fund money will be used for construction or reimbursement.

• 120% performance bond: Ensures project completion
• No liens: City land is protected from claims
• No general fund exposure: General operating budget is not at risk
• Developer responsibilities: Ebenezer Stadium LLC pays all taxes, parking, and safety costs
• Land reversion: Land returns to city if not purchased as agreed

Revenue Sharing and Community Benefits

The Port St. Lucie soccer stadium agreement outlines a clear revenue split and community access. The city is guaranteed 24 event days per year, including about 20 home games for the USL League One team. For these events, the city receives 100% of the revenue. Naming and sponsorship rights are split between the city and Ebenezer Stadium LLC, while the developer retains all revenue from its own events.

• City events: 100% revenue to city for 24 guaranteed days
• Ebenezer events: 100% revenue to developer
• Naming/sponsorship rights: Split between city and developer
• City perks: Suite, 10 field-level tickets, and parking passes for games

Developer Obligations and Public Safety

According to the agreement, Ebenezer Stadium LLC is responsible for all taxes, parking, traffic management, and safety plans. This includes a requirement to pay for additional police presence during events, as outlined in the city’s operating agreement documents.

Public Concerns and City Council Response

Many Port St. Lucie residents have expressed concerns about the cost of the soccer stadium and the potential risk to taxpayers. In response, the City Council held a special meeting to provide clarity on the deal structure and address these worries directly. Port St. Lucie Mayor Shannon Martin announced the professional soccer team’s stadium plans and clarified that the reimbursement comes from an existing CRA fund, not from new taxes or the general fund. Vice Mayor Jolien Caraballo emphasized that property owners outside the CRA will not be responsible for the reimbursement.

Transparency and Ongoing Oversight

Each annual reimbursement payment requires a separate City Council vote, ensuring ongoing oversight and transparency. The $27.5 million reimbursement cap remains fixed even as construction costs have increased, and all financial details are subject to public review and approval, according to city officials.

Next Steps for the Port St. Lucie Soccer Stadium Project

The next City Council vote on the operating agreement is scheduled for November 4th. Additional votes will be held on a non-relocation agreement and a development/funding agreement. If approved, the stadium is on track to open in 2027 as part of the Walton & One development.

• November 4th: Second vote on operating agreement
• Additional votes: Non-relocation and development/funding agreements
• Projected opening: 2027

Frequently Asked Questions About Port St. Lucie Soccer Stadium

What is the Port St. Lucie soccer stadium project?

The Port St. Lucie soccer stadium is a proposed 6,000-seat venue at Walton & One, designed to host a USL League One team and community events. The project is structured with safeguards to protect taxpayers and is expected to open in 2027.

How much will the Port St. Lucie soccer stadium cost taxpayers?

The city will reimburse up to $27.5 million over 20 years, using existing CRA tax increment financing funds. No general fund money or new taxes will be used for the stadium.

Are there protections if the stadium is not completed?

Yes, the agreement requires a 120% performance bond. If construction is not finished, the city can use the bond to complete the project, and no liens can be placed on city land.

Can you attend city events at the Port St. Lucie soccer stadium?

The city is guaranteed 24 event days per year, including about 20 soccer games. Residents will have opportunities to attend these events once the stadium opens.

Where are the funds for the stadium coming from?

All city reimbursement funds come from the existing Community Redevelopment Agency (CRA) tax increment financing, not from the general fund or new taxes. Only properties within the CRA contribute to this funding.

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