How will the stadium project be funded?
- The project will not use taxpayer dollars from the City’s General Fund.
- Ebenezer will finance the stadium construction and necessary infrastructure improvements.
- A long-term agreement (50 years with a 25-year renewal option) will be established between the City, CRA and Ebenezer.
- Ebenezer may be reimbursed for up to 50% of eligible stadium and infrastructure costs — capped at $27.5 million — through CRA Tax Increment Financing (TIF) revenue, not general revenue.
- Reimbursement would be spread over 20 years at $1.375 million annually, starting the year after the stadium receives its Certificate of Occupancy.
- Ebenezer is solely responsible for any cost overruns.
Who owns the land where the stadium will be built?
The City currently owns the land. Ebenezer will have the right to build the stadium through a license granted by the City and could have the option to purchase the land in the future. Meanwhile, the City and CRA are actively pursuing additional private development opportunities within the Walton & One area, including residential and commercial projects.
What is the vision for Walton & One?
The stadium is designed to be the anchor project that jumpstarts the broader development of Walton & One — a future cultural and entertainment hub on the east side of Port St. Lucie. The Master Plan includes a mix of residential, retail, office, hotel and entertainment spaces. The strategy ensures no single developer controls the entire site, encouraging diverse and dynamic growth.
Why is this happening now?
After years of planning and strong interest from private developers, the City and CRA are ready to move forward. With most of the Walton & One parcels now under City control and market studies showing a need for new destinations in Port St. Lucie, the timing is ideal to launch the stadium as the first major development.
What is the expected economic impact?
The stadium is projected to drive significant economic benefits, including:
- Increased sports tourism and visitor spending
- Job creation during construction and ongoing operations
- Substantial capital investment in the local economy
- More detailed projections will be shared based on studies from PFM and the developer.
What if Ebenezer doesn’t fulfill its obligations?
Ebenezer has undergone thorough vetting by the City, CRA and independent consultants, including the St. Lucie County Economic Development Council. To protect the City’s interests:
- A construction bond is required to ensure project completion.
- If the stadium ceases operations under the agreement and the City still owns the land, the City would regain full control of the site, including the stadium.
What happens next after the announcement?
- The CRA Board and City Council will review and vote on several agreements, including the Development and Funding Agreement, Operating Agreement, and Non-Relocation Agreement.
- A public hearing will be held as part of this process.
- Ebenezer and the City will work together to secure all necessary development approvals, with the goal of completing construction in time for the 2027 USL season.