Need a break from ALL CINCINNATI AND MLS ALL THE TIME? How about some good news for a change? Well, as expected, Louisville City’s application for a tax-increment financing district in Butchertown was approved by the Kentucky Economic Development Finance Authority today. The club was approved for $21.7 million in TIF. Want to know more about how TIFs work? You can dig a lot deeper here, but the general idea is the club gets to keep the value of property tax increases that are generated as a result the stadium development district, up to $21.7 million in this case.

This was the last link in the chain that needed to be closed before construction at the Butchertown site could begin in earnest. I expect we’ll be hearing more about groundbreaking and other fun things in the coming months that we should all be excited about. The club will play one more season in Slugger Field before moving to its new digs for the 2020 USL season.

Per the club’s press release, the total cost of the project is estimated at $193 million and will be funded by the club’s investors and traditional bank financing. However, obviously some of that money will come from funds that the club will get to keep in the form of TIF, plus the $30 million in bond financing from Louisville Metro Government.