The Mayor’s office released a statement saying, “They will vigorously defend the ordinance that requires a vote.” Also stating, “Whatever the outcome is the city will follow the law.”
The release reveals some of the city’s role in the stadium project. The city will continue to make payments on the the debt for the dome. It will also contribute or sell land that it owns in the project area. Finally, the city will use a portion of the taxes generated by the stadium and parking.
The city’s participation would be less than 15% of the total project cost. It would only happen along with $450 million in private investment and obviously a lease from an NFL franchise.
Governor Jay Nixon says in a statement, “Last year, I asked Dave Peacock and Bob Blitz to develop a proposal that would leverage private dollars to protect taxpayers, revitalize a distressed area, create jobs and allow St. Louis to remain an NFL City. I especially appreciate Bob and Dave’s work to identify a path forward that would impose no new burdens on taxpayers. Because this plan would impose no new taxes and instead use funding that has already been approved by the voters, another public vote is not required.”
It appears this issue will be settled in court.
