GOV
City of St. Louis Investing $280 Million Rams Settlement Haul to Secure Funds, Accrue Interest
Settlement funds invested in a secure account with the Missouri Securities Investment Program (MOSIP)
ST. LOUIS - Today, the City of St. Louis, with guidance from the St. Louis Treasurer’s Office, announced that it will invest the $280 million won from the historic Rams settlement in a secure account with the Missouri Securities Investment Program (MOSIP), where the funds will continue to accrue interest and grow.
“St. Louis worked for years to hold the NFL accountable, and now our patience has paid off with hundreds of millions of dollars in the bank,” said Mayor Tishaura O. Jones. “Developing a community-driven plan to use Rams settlement funds will take time, but our investment will accrue interest and grow as we work together to do so. I look forward to working with the Board of Aldermen to use these funds to make transformative change in our city for generations to come.”
The MOSIP account offers flexibility and interest. MOSIP and its various services provide school districts, municipalities, counties, and more an opportunity to maximize their income potential with secure investments while adhering to Missouri investment guidelines.
Following the seating of a new Board of Aldermen, the City will engage community members to educate residents and to hear their recommendations on how best to use this transformative opportunity for St. Louis. Unlike American Rescue Plan funds, which are bound by US Treasury guidelines and must be spent by the end of 2026, Rams settlement funds face no similar restrictions.
Per the settlement agreement, $30 million of the City’s $280 million share must be appropriated by the Board of Alderman before June 30, 2023 to keep the funds in the City by investing in the Convention Center. If the Board does not act by the deadline, the City must cede that $30 million to the RSA.
-
Contact Information:
Nick Dunne
Public Information Officer
Office Phone: (314) 622-4072 -
Department:
Office of the Mayor
Office of the Treasurer
-
Topic:
Most Read News
- City of St. Louis to Update Water Service Line Inventory The City of St. Louis is notifying all customers in the City whose service line either contains lead or whose materials are unknown.
- New Data Show St. Louis City Continues To See Decrease in Homicides and Other Crime Newly released crime data for August 2024 shows that the City of St. Louis continues to successfully decrease the amount of crime, including homicides, occurring in the City.
- Jones Administration Breaks Ground on New St. Louis 911 Dispatch Center The 911 Dispatch Center, which is funded with help from the State of Missouri and the Biden-Harris administration’s American Rescue Plant Act, will be the location for all City of St. Louis dispatch services, including police, fire, and EMS.
