The owner of the MLS's Orlando City soccer team has found an innovative way to finance his team's new $156 million stadium, funded by foreign buyers of American green cards.

Orlando City S.C. of Major League Soccer has taken a new and somewhat controversial approach to funding its new stadium. Ken Belson reports in the New York Times that Orlando City owner Flávio Augusto da Silva is using a Federal program, known as EB-5, that allows developers to raise capital by selling green cards to foreign buyers. As Belson notes, the program was "intended to help pay for infrastructure projects in rural areas and poor urban neighborhoods." However, during the last recession the program was adopted by private developers to fund the construction of hotels and condos.
The Orlando project features a 25,000-seat stadium, scheduled to open for the 2017 seasons of both Orlando City S.C. and the Orlando Pride, the women’s team that Mr. da Silva owns with his partner Phil Rawlins. Originally, the city and county agreed to subsidize the project. But when state lawmakers balked at approving a sales tax rebate, Mr. da Silva turned to the EB-5 program, something Orlando’s mayor, Buddy Dyer, cheered.
The soccer club has raised $15 million to date from 30 investors who have purchased the green card for $500,000 each. In addition to a green card, which allows the investor and their family to live and work in the United States, the investor also receives two club seats in the stadium for ten years.
FULL STORY: Price for a Green Card: $500,000 Stadium Stake

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie