The City of Waterloo unanimously passed three motions to help put a multi-million dollar project into motion Monday.
The Cedar Valley SportsPlex will be a 13,000 square foot facility with a large field house, a gymnasium with basketball courts, and an indoor track.
Nearly 20 million dollars in private funding has already been raised. The facility is expected to cost between $25-27 million dollars.
Monday night the council approved the construction plans, the lease agreement, and the property sale.
Several residents asked the city if the facility would be able to meet the expected projections to stay afloat.
"We are quite confident that if the membership performs as we believe it will and if the facility used for all of the activities that its going to be available for we feel that we can operate with the building in the black," Waterloo Mayor Buck Clark said.
The city is expected to take over the facility after eight years, but if the facility is not performing up to the city's expectations, the city has the right not to take ownership.
Construction will break ground Thursday morning and the facility is set to open fall of 2013.
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