"Sports is important for the spirit of a community," RSL's owner told a Salt Lake Rotary Club meeting Tuesday. "[This project] will pay back in millions and millions of dollars for many years. Of that, I am confident."

To meet his Independence Day goal, Checketts noted, crews will have to complete some ground work this year at the stadium site near 9400 S. State.

Salt Lake County Mayor Peter Corroon and Sandy Mayor Tom Dolan also were optimistic Tuesday when the trio presented the stadium plans to Rotarians.

Sandy vows to meet its end of the bargain - up to $15 million for land and infrastructure improvements - even without Jordan School District money, Dolan said after the meeting.

The district balked last month after it was asked to forfeit its share of future property taxes generated by the development - a share that comprised up to half the $15 million needed.

RSL then pledged not to tap any future school money.

So how will Sandy make up the difference?

"It will have to come off the project, [from] revenues that are produced by the project itself," Dolan said. "We don't have any other way to do that. The more [RSL] builds the more tax revenues that are available."

Because the stadium would be part of a Community Development Area (CDA), RSL could be reimbursed for infrastructure and land upgrades with new property taxes generated by its development.

Dolan said the project's first phase - which would include the stadium, a hotel and broadcast studio - is expected to cost $135 million to $150 million. Plans also call for a mammoth mixed-use development around the stadium.

"If they build more product on the property, then more tax revenue is available," Dolan said.

Salt Lake County plans to kick in $40 million in old and new hotel taxes for stadium infrastructure and land.

Stadium construction can begin in earnest - a ceremonial groundbreaking occurred in August - once Salt Lake County completes an independent review of RSL's finances and finalizes the deal.

Checketts said Tuesday he has received a letter from Corroon's office seeking the team's financial documents, which he is ready to hand over.

Corroon said an accounting firm has not been selected yet, but he has asked that the audit be wrapped up within 30 days after the documents are received.

Checketts, fielding a question from the Rotarians, said Wall Street heavyweight Goldman Sachs has agreed to back the stadium, investing $25 million from its Whitehall Funds and finding lending for the remainder of the $100 million project.

Rotarian Jack Sunderlage, chairman of Utah's World Trade Center, welcomed the plan, saying the stadium and RSL's presence will further economic development and international trade.

"This is just one more component that will put Utah on the map."

rwinters@sltrib.com