Waco City Council approves $35 million to Baylor Stadium

Wednesday, July 18, 2012 - 3:51pm

WACO -- Thanks to a unanimous vote by the Waco City Council Tuesday night, Baylor is $35 million closer to raising the $250 million needed for the new stadium.

The downtown Tax Increment Financing Zone, or TIF will give $35 million towards the Baylor project, which is the largest amount of Waco TIF funds ever contributed.

The Baylor board of regents is scheduled to vote on the stadium project later this week.

but Baylor officials tell us, without the city's support the stadium couldn't happen.

"We've already had, just with the commitment that Baylor made announcing it, that there's going to be major things announced I think up and down the river and this is the spark that Waco's been waiting for for a long time," Larry Holze with the City of Waco said.

There's still a final vote on August 7th to officially approve the TIF grant, but city officials assure us with all the excitement, they expect it to pass as well.

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