Here are the terms of potential Austin MLS stadium deal

A deal for a potential permanent MLS stadium in Austin, TX between the city and Precourt Sports Ventures is beginning to take shape.

A term sheet for a stadium at McKalla Place, a 24-acre plot owned by the city, was released Friday evening, detailing the stipulations of the deal.

PSV has been scheming to relocate the Columbus Crew SC to Austin for a while now.

The permanent Austin stadium wouldn’t be complete until the 2021 season.

Columbus Business First reports the team would play at a temporary stadium beginning in 2019.

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Here are some basic points from the term sheet, per Columbus Business First:

The 20,000-21,000-seat stadium would be privately financed and donated to the city upon completion.
The site is expected to feature more than eight acres of green space and 130 affordable-housing units.
PSV would lease city-owned stadium for an initial 20-year term with three possibilities for 10-year renewals.
Rent payments of $550,000 would begin in the sixth year – and would total $8.25 million over the first 20 years.
A non-relocation clause, a city priority after PSV’s efforts to leave Columbus, would be included.
Both the city and PSV would work on a Transportation and Parking Plan, as well as figuring out how to pay for a Capital Metropolitan Transportation Authority rail station at the stadium site.
The club would distribute 1,000 complimentary seats for each regular season game on average, with 100 of them going to the city of Austin to distribute as it sees fit.
Both sides expect a stadium would remain exempt from property taxes as a city-owned site.
Both sides would work to locate a permanent club headquarters in Austin city limits and keep “Austin” in the club name.
They’d make an agreement on community benefits, including affordable housing, complimentary tickets, charitable contributions and fundraising opportunities.

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