ST. LOUIS, MO (KPLR)- The plan for a new NFL stadium for the Rams will be examined at a Missouri House hearing scheduled to take place Monday in Jefferson City. According to our partners at the Post-Dispatch, St. Louis businessman, Dave Peacock, who has been spearheading the project for Governor Jay Nixon, is expected to testify.
The meeting was called by House Government Oversight and Accountability Chairman, Jay Barnes. House Speaker John Diehl asked Barnes to analyze the stadium's costs and benefits.
The new stadium would cost close to $900 million. More than $400 million of those funds could be paid by taxpayers.
Governor Nixon has said that the bulk of the public money for the new stadium would come from extending the payments on bonds used to pay off the debt at the Edward Jones Dome. Right now, the state currently pays roughly $12 million a year for debt payoff and upkeep of The Dome. Preliminary figures show extending the bonds could provide $300 to $350 million for the new stadium project.
This hearing comes against the backdrop of Rams owner Stan Kroenke`s plan to build an 80,000 seat stadium in the Los Angeles area.