As the CFL considers what it’s calling a “very credible” bid for 10th team, more details are emerging about what the Atlantic expansion may look like.

The group of potential owners is looking at four pieces of land in the Halifax Regional Municipality, according to Mayor Mike Savage.

While Shannon Park has been considered a possibility since 2012, Savage says it's not his preferred option this time.

Another potential location is in the Bayers Lake business park, according to the Banc Group. The developers say they have had a conversation with the CFL bid group this month. The land, which is behind the Kent store, will be ready to build by July of 2018.

Sources tell CTV News the municipality's preferred location is in Dartmouth Crossing.

North American Development Group, which owns the land in Dartmouth Crossing, says they have had preliminary discussions with the CFL bid group.

Dartmouth Crossing has access to highways, and is about a 20-minute drive from the Halifax Stanfield International Airport and downtown Halifax.

On Friday, Mayor Savage said a stadium will need to generate new tax revenue, saying, “first and foremost it has to be financially feasible without being a drain on taxpayers.”

“It has to be part of a development that makes sense,” Savage said. “People don't want to build just stadiums outside of town, that don't have amenities. So there are places within our community and outside of the downtown – I just don’t think a downtown stadium is feasible, we don’t have a place to put it. But we have other areas which have restaurants, which have bars, which have hotels, which have shopping, which have complete communities.”

Savage added that the development would need to be transit-oriented.

The bid group is led by two former executives of the Arizona Coyotes, Anthony LeBlanc and Gary Drummond, and local businessman Bruce Bowser of AMJ Campbell Van Lines.

Richard Butts is also involved. Currently the president of Clayton Developments, Butts is also the former CAO of Halifax Regional Municipality. He tells CTV News he has been introducing the group to local players, including the Halifax Chamber of Commerce and the Halifax Partnership.

In a statement, LeBlanc tells CTV News the group will not be commenting further at this time as it works with the CFL and various levels of government.

“We continue to be incredibly excited and bullish regarding the opportunity to bring this great sport and great league to the Atlantic region,” LeBlanc said. “And while we are progressing well in all discussions, there remains significant work left to do. We do anticipate providing an update over the weeks and months ahead as we continue down this exciting path.”