Plans to build a new Major League Soccer stadium in St. Louis, Missouri, could be back on track after a public funding proposal for the project was revived.

Last week, St. Louis Aldermen said the bill would not move forward. However, bill sponsor Alderman Christine Ingrassia has now confirmed that the proposal will face a committee hearing later today (Thursday).

According to the St. Louis Post-Dispatch, the bill has been altered to set out plans to allocate approximately $60m (€53.4m/£48.9m) in new tax revenue to the $200m project.

The previous proposal had called for a city contribution of $80m and attracted criticism from some parties. Maggie Crane, a spokeswoman for St. Louis Mayor Francis Slay, said the new figure is “very possible” at this stage.

If the bill is to make the April 4 ballot, it must pass the full Board of Aldermen by Tuesday. Aldermen have already met with city officials and representatives from a team of investors backing the project, although it is unclear if a new financial agreement has been agreed.

The news comes after Ingrassia last week urged St. Louis to make a decision soon if it is to secure one of the planned MLS expansion franchises.

“I also do believe, based on conversations with the ownership group, and what I’ve researched on my own regarding the MLS timeline, that we will not have an opportunity for one of the four expansion teams if we wait to put this on the August ballot,” Ingrassia said.