Preposed MLS Stadium in St. Louis

(Courtesy of HOK)

St. Louis Mayor Lyda Krewson Backs New MLS Stadium Pitch

Comments come as some aldermen voice concerns over maintenance

November 19, 2018 - 11:52 am
Categories: 

St. Louis, MO (KMOX) — While some Aldermen are questioning some aspects of the proposal to build a privately funded stadium to attract a Major League Soccer, St. Louis Mayor Lyda Krewson is leaving no doubt where she stands on it.

"I can't imagine a better deal than this for St. Louis," Krewson told Hancock & Kelley Monday morning. "Or frankly for any city!"

Krewson says the project amounts to a $400 million private investment without using any current city funds or tax increment financing. In fact, she says, the stadium will pour money into city coffers.

"When it's built and the team is playing there, they'll be in the neighborhood of $1.5 to $2 million in new taxes that are generated inside that stadium that will come to the taxing authorities. A large part of that comes to the city [of St. Louis>."

Related: Tax Incentives Approved by City Board for MLS Stadium Construction

As for upkeep, Krewson says the ownership group, consisting of the Taylor and Kavanaugh families, will have responsibility for that.

"The current plan is for them to put about 2.5-percent of the amusement tax per year into a repair and maintenance fund. So, they're also going to put the money behind it."

While some aldermen question the waiving of property taxes on the site, Krewson says those taxes haven't been paid on that land at least since the 1960's, when MoDOT purchased it.

Related: Enterprise's Corporate Culture Will Bring MLS Success To St. Louis

A resolution backing the plan is currently pending before an Aldermanic committee. One of the aldermen that have voiced concerns about maintenance for the stadium, Megan Green, will be a guest on Mark Reardon's show at 3:20 p.m Monday.

You can hear Hancock & Kelley's conversation with Mayor Lyda Krewson in the podcast below (the interview is at the beginning):