Omaha stadium deal sets two funding caps totaling $117 million

The Omaha City Council approved a redevelopment agreement for Union Omaha’s planned downtown stadium on Oct. 27, 2026. It authorizes up to $106.5 million in stadium financing and up to $10.5 million in reimbursements for public improvements.

The agreement is between the city and Downtown Soccer Stadium, Inc. The stadium is planned for property northeast of 11th and Izard streets, near Millwork Commons, in downtown Omaha.

Two separate funding limits i

The $106.5 million authorization is for stadium financing. The agreement’s agenda description says lease payments and other revenue sources would be used to service the associated debt. Separately, the agreement allows reimbursement of up to $10.5 million in expenses related to public improvements. One limit concerns stadium financing; the other covers reimbursement of public-improvement expenses.

Together, the maximums add up to $117 million. Does the approval mean that $117 million has already been spent? No. The figure combines two different caps, not a single cash grant, and the approval does not establish that the full financing has been borrowed or the full reimbursement paid.

Hearing, construction targets and wider plans i

The council held a public hearing on the agreement on Oct. 20 and approved it a week later. WOWT reported that a contractor agreement is expected to return to the council, a separate step from the redevelopment agreement approved in October.

KETV and WOWT reported a November 2026 target for construction to begin and a 2028 target for the men’s team to move into the stadium. These are reported targets, not completed milestones.

KETV also reported broader development plans that include 300 to 350 apartments, along with retail, restaurants, bars and entertainment. Those are plans for the wider development, not confirmed construction commitments in the approved agreement. KETV reported that MECA plans to operate the stadium.