LAFAYETTE, Ind. (WLFI)- Lafayette is now one step closer to a new Loeb Stadium.
Monday night was the final vote on issuing the economic development income tax bonds for the baseball complex.
Lafayette city council members approved the ordinance.
The vote allows the city to sell the bonds and raise the $17 million to build the stadium.
"We'll use economic development income money to pay that back," said Lafayette Mayor Tony Roswarski. "This is really important for quality of life and having those amenities that make businesses want to be here and people want to live here."
Lafayette Mayor Tony Roswarski says the stadium will not be exclusively for baseball games.
"We can also play soccer," said Roswarski. "We can host a football game, car shows [and] boat shows. We're wiring it so we can have concerts there and semis can actually back down and unload equipment."
Mayor Roswarski told News 18 the stadium will be built this year and completed by 2020.