Quote:The Aloha Stadium Authority agreed on Wednesday to accept a stadium proposal by consulting firm Foley & Lardner LLP.

Consultants told the Stadium Authority that the site for building a new 30,000-40,000 seat stadium was unique. They say a new stadium could have a $1.5 billion impact if it were to be built right now. The new stadium would feature retractable seating.

The cost to build a new stadium is estimated to be $323 million in 2017 dollars. The cost to maintain the current stadium would exceed $30 million a year because the current structure is deteriorating at a rapid pace, according to the consultant. The current stadium has 50,000 seats.

The consultant says the building of the new stadium should take two years once construction starts. The Stadium Authority estimates a 7-year window to get approval and building it.

The consultant says the new and old stadiums would co-exist during transition and events would continue. They also say the swap meet is vital to the future of the new stadium. The parking on-site would be supplemented with a parking structure.