"Now that this project can begin, we hope that it becomes a special place for our community's youth to play soccer and other sports as well," Checketts said in the statement. "Our hope is that the city will deliver the world-class facility they have always envisioned."

On May 2, Checketts vowed to hand over the money within 30 days - no strings attached - after Mayor Rocky Anderson criticized him for asking that parking, concessions and naming-rights revenues from the community project return to RSL in exchange for the $7.5 million "investment." Anderson said the funds always had been promised to the public as a gift.

Monday, after the 30 days had lapsed, RSL announced it had a letter of credit, guaranteed by Zions Bank, but needed a few more days to iron out some "technical details."

Now in place, the $7.5 million allows Salt Lake City to float a $15.3 million voter-approved bond for the 20-field park planned at 2300 North and Redwood Road.

It also satisfies one of the requirements RSL has to meet in order to receive $35 million of public funds - approved by the Legislature in February - for its $110 million soccer stadium in Sandy at 9256 S. State St. RSL hopes to open it in fall 2008

No time line has been set for when the bond will be issued or construction will begin on the youth sports complex, according to Salt Lake City's public services director, Rick Graham. Voters approved the bond in 2003, but the city had to secure additional private funding to move forward.

Friday, Anderson's spokesman Patrick Thronson said the city "is tremendously grateful to Mr. Checketts and Real Salt Lake for [their] commitment to fostering youth soccer."

rwinters@sltrib.com