INGLEWOOD – A Hollywood Park stadium proposed by a group that includes Rams owner Stan Kroenke would cost $1.86 billion to build, making it the most expensive stadium ever constructed, according to a study commissioned by the Inglewood city council.

With design, engineering, financing and other indirect costs, the stadium’s final price tag likely will exceed $2 billion. The stadium is projected to generate $325 million in annual revenue, based on figures in a fiscal analysis of the project by Keyser Martson Associates, a real estate development advisory firm hired by the city council.

The Inglewood city council is scheduled to decide Tuesday night whether to approve the privately funded, 80,000-seat, covered-roof stadium project by the Hollywood Park Land Company as part of the company’s plans for a 298-acre redevelopment or hold a special election on the matter on June 2. Inglewood community activists expect the council to adopt the ordinance titled the “City of Champions Revitalization Initiative.”

Even with approval of the stadium by the council or voters, Kroenke would still need approval of three-quarters of the NFL’s 32 owners before relocating the Rams to Southern California. HPLC officials have projected the stadium to be open in time for the 2018 NFL season.

Documents filed by the city also show that the city would provide a tax break by capping an existing ticket tax at $15 million per year for venues with more than 22,000 seats. The threshold figure could rise annually based on the Consumer Price Index, according to the documents.

The stadium is projected at generating $205 million in annual ticket revenues, $141.1 million coming from tickets for 10 NFL games, according to the Keyser Martson report filed with Inglewood city manager Artie Fields on Feb. 20. The tax rate per ticket is 10 percent. Ticket revenues would account for 63 percent of the stadium’s annual revenues, according to the report.

Documents filed with the city council also acknowledge other “very substantial” revenue sources might be generated by firms or individuals outside of Inglewood and thus would not be subject to Inglewood taxes.

While Inglewood Mayor James T. Butts, Jr. said last month the stadium would cost $2 billion to build, the Keyser Martson analysis set the venue’s projected construction cost at $1.86 billion. The figure came from data provided to HPLC that was reached “by cost estimators with experience on other stadiums and reflects the cost of an enclosed stadium,” the analysis said.

New Jersey’s MetLife Stadium, home of the NFL’s Giants and Jets, opened in 2010 with a $1.6-billion price tag, making it the world’s most expensive stadium built to date. The Cowboy’s AT&T Stadium in Arlington, Texas, the so-called “Jerry’s World,” and the 49ers new Levi’s Stadium in Santa Clara each came with $1.3-billion tabs. The new Yankee Stadium came at a cost of $1.5-billion.

A proposed Carson stadium to be built and shared by the Chargers and Raiders has a projected $1.7-billion cost.

The Inglewood stadium would generate $55.6 million in taxes during its construction and create 23,522 construction jobs, according to city documents.

The project also calls for the HPLC to pay for “sufficient” infrastructure related to the stadium. The company can recoup those costs after reaching an annual $25-million tax threshold. That tax threshold will rise annually according to the CPI. The Year 10 threshold is projected at $30 million and $46.5 million for Year 25, according to documents filed by Fields and the city attorney with the council.

HPLC is projected at recouping all infrastructure costs by Year 17.

The initiative also calls for HPLC to pay the Inglewood Unified School District $4 million in future school fees and pay $1 million over five years for after school programs in the city.

Contact the writer: sreid@ocregister.com