The Albuquerque City Council has given the green light for $30 million in Industrial Revenue Bonds to support the financing of a new stadium for the New Mexico United soccer team. The decision was made on February 3, with the council approving city-issued bonds intended to fund this project.

These bonds, known as Industrial Revenue Bonds (IRBs), will be used to finance the proposed stadium, which is planned to be constructed on seven acres within Balloon Fiesta Park. The facility is expected to accommodate approximately 10,000 spectators. While the city will own the stadium, a private entity must purchase these bonds from Albuquerque.

In addition to constructing the stadium, part of the $30 million bond will go towards enhancements at Balloon Fiesta Park. These improvements include upgrades to parking facilities, lighting systems, and restrooms.

The council's decision saw significant support, passing with an 8-1 vote.