"It's only fair if we are taking on the risks," to issue and pay off bonds for $45 million of public funding for RSL's soccer stadium that the team "should give preference to us" for the academy, said Economic Development Director Randy Sant.

"Not one dollar is coming from Salt Lake City for the stadium to be built," Sant said. Councilman Dennis Tenney agreed. "[RSL owner] Dave Checketts has given a letter of credit for $7.5 million with no strings attached to Salt Lake City [for its youth sports complex] so they certainly can't complain."

During the 2007 legislative session, when lawmakers channeled $35 million of Salt Lake County hotel taxes toward the stadium project, an elite soccer academy in Salt Lake City was often advertised as a benefit of the deal. On Monday, Anderson called the promise a contract. He had lobbied lawmakers for the funding on RSL's behalf.

"I went to bat to see that we kept this team at least in the county in large part because of [RSL's] promise to both help finance the [youth sports] complex, and because the team was going to locate its academy in Salt Lake City."

RSL, which must build an academy "in Utah" to receive the hotel taxes, has not selected a site yet, but is looking in the "greater Salt Lake County area," according to Chief Executive Officer Dean Howes. No deadline has been set for when the site must be selected.

Tuesday, the City Council discussed other terms of the development agreement, which likely won't be approved until the end of this month, and a Community Development Area. The CDA will capture up to $10 million of increased property taxes generated by the stadium. The council will take public comment and vote on the CDA on July 17.

Council members also discussed ways to make sure the stadium is a family-friendly venue. Sandy plans to prevent RSL from selling naming rights to an alcohol, tobacco or sexually-oriented business. Although Checketts has promised beer sales at the facility, the City Council might request that consumption be limited to certain sections of the stadium or that sales stop at a specified time.

A 12-person suite with free tickets to all stadium events would be used both by Sandy and the Governor's Office of Economic Development to recruit new businesses to Utah. Councilman Steve Fairbanks suggested the suite also be used to recognize community members and city employees.

Sant said exactly how the combined $45 million in public funds will be spent is still being determined. Costs for land, parking and public infrastructure outlined in the draft agreement leave $7.4 million of the public funds unspent.

Sandy, which isn't asking Jordan School District to participate in the tax-increment financing, might be able to offer only $7 million to $8 million.

Plus, the city's Redevelopment Agency is not restricted from spending its funds on the stadium itself or land for surrounding commercial development, Sant said in an interview, noting that the RDA money would likely still go to public infrastructure.

Sant told the council that a New York-based investment firm, George K. Baum & Co., has agreed to buy all of the hotel tax bonds.

Sandy, which plans to issue the bonds by Aug. 27, would repay the debt at a 4.88 percent interest rate.

rwinters@sltrib.com