Proposal to Go Before Full Board Friday
St. Louis, MO – On Wednesday, November 28, 2018, the St. Louis HUDZ Committee meeting saw the approval of a new soccer stadium, furthering the progress of bringing a Major League Soccer team to St. Louis.
The proposal was approved by the aldermanic committee by a vote 8-0, and received great applause. The plan will develop an area west of Union Station along Market Street where a highway exit ramp now sits.
In October, a St. Louis-based ownership group announced its mission to bring a Major League Soccer club to St. Louis. The new ownership is made up of members of the Taylor and Kavanaugh families.
The proposal from the ownership group requires no city taxes for stadium construction. Furthermore, it will establish a three percent (3%) sales tax on stadium goods, while all use, earnings and regular sales taxes will remain in possession of the city.
St. Louis Development Corporation provided a financial impact report which showed that the City of St. Louis would earn approximately $41 million over the 30-year proposal.
There were a number of proponents who spoke in support of the project on Wednesday included Kelvin Adams, superintendent of St. Louis Public Schools, who called the project a “no brainer.”
Mayor Lyda Krewson stated, “Thank you to the Board of Aldermen’s Housing Urban Development and Zoning Committee. I am so thrilled to move a step closer to bringing a Major League Soccer expansion team to St. Louis.” The Mayor added, “We are a soccer town. We play it, we watch it, and now we have another shot to score a soccer stadium and an MLS team.”
The stadium would be home to an MLS expansion team that the ownership group hopes to secure for St. Louis. The league has said it wants to grow to 28 teams, leaving two slots after the pending additions of Cincinnati, Miami and Nashville, Tenn.
The proposal will next go to the full board on Friday.
About the St. Louis Development Corporation (SLDC)
St. Louis Development Corporation (SLDC) is an umbrella, not-for-profit corporation organized under Chapter 355 of the Missouri State Statutes with the mission of fostering economic development and growth in the City of St. Louis by stimulating the market for private investment in City real estate and business development and improve the quality of life for everyone who lives in, works in, and visits the City. The mission of the SLDC is to stimulate the market for private investment in City real estate and business development and improve the quality of life for everyone who lives in, works in, and visits the City of St. Louis. If there are questions, please contact John Parker, Director of Corporate Communications and Media at 314-363-1102 or email him at [email protected]
SOURCE: news provided by STLOUIS-MO.GOV on November 28, 2018