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The Houston Business Journal reports that the only formality remaining before the team can go ahead is for the Houston City Council and Harris County Commissioners Court to approve the creation of a TIRZ (a tax-incentive zone) for the project. That's expected to pass next week.
The price tag for the stadium does not include the land, which the city purchased a few years ago and is leasing to the club. The Dynamo -- owned by entertainment giant AEG -- are paying $60 million in construction costs, with the rest coming from the TIRZ.
The Dynamo and AEG have announced their intention to book music acts into the venue, competing with The Cynthia Woods Mitchell Pavilion in The Woodlands; our Rocks Off editor Chris Gray has analyzed that not much may come from that boast.
The 22,000-seat stadium is expected to open in 2012.