The Frisco Community Development Corp. is the second to approve the amended lease agreement for Toyota Stadium.

The CDC is one of four governmental entities that need to vote on the agreement to finalize.

On Sept. 15, the city council approved the lease, which includes making room for the National Soccer Hall of Fame. Frisco Economic Development Corp. and Frisco ISD still have to vote on the agreement.

Each entity is listed to help with funding the improvements.

After all have approved, there is a wait time of 60 days before the lease agreement is valid, Assistant City Manager Nell Lange said.

The term of the lease lasts through Dec. 31, 2037.

The total project cost is expected to be $39 million, which will be funded mainly through debt services. Frisco City Manager George Purefoy said no property taxes would fund the project other than what would come out of the tax increment reinvestment zone No. 1, a zone that funds public improvement projects through tax increment financing within the zone.

The CDC’s debt payment is $5 million that will be paid over 22 years, Assistant City Manager Ron Patterson said.

Construction on the improvements is scheduled to start no later than May 31, 2016.

Under the proposed agreement, the stadium improvements include meeting the needs for NCAA, FISD and the hall of fame. FISD uses the stadium for various events, and NCAA hosts its football championship game in the stadium every year.