Baylor regents have approved building a $250 million on-campus football stadium along the Brazos River.
University regents Thursday unanimously approved the plan, contingent on the Waco City Council approving $35 million in public funds.
City officials scheduled an Aug. 7 final vote on a measure unanimously approved Tuesday to use tax increment financing zone funds. Officials say next month's second reading is considered a formality.
Baylor hopes to have the 45,000-seat facility ready for the 2014 football season. The Bears currently play at Floyd Casey Stadium, which was built in 1950 and has maintenance issues.
Baylor football drew intense attention last season as quarterback Robert Griffin III went on to win the Heisman Trophy. Griffin on Wednesday signed a four-year, $21 million contract with the Washington Redskins.