Houston - On behalf of the Harris County Houston Sports Authority, Chairman J. Kent Friedman today announced the Sports Authority’s approval of the agreement for the new Dynamo Stadium. Speaking at the future site of the stadium Friedman remarked,
“The Dynamo Stadium will help revitalize the East End, creating jobs and business opportunity without issuing bonds, or incurring any public debt. This agreement will bring a world class facility to our community without burdening tax-payers“
Under this agreement the City and County will contribute the land for the stadium, while the Dynamo will pay for the construction and maintenance. The Harris County Houston Sports Authority will act as the landlord and provide their substantial expertise in overseeing the long term legal and contractual obligations for the facility.
The new stadium will also be the home for the Texas Southern University football team, as well as a new state of the art outdoor entertainment venue for all of Harris County.
Chairman Friedman outlined the next steps of the process saying,
“We recommend that both the Houston City Council and Harris County Commissioners Court approve this agreement. Fans want to see the Dynamo and the Tigers in their new home in time for their 2012 season openers”