Comptroller's Updated Statement Regarding New Stadium Funding
by Comptroller Darlene Green
This article is 8 years old. It was published on October 28, 2015.
All parties involved in negotiating the funding of a new riverfront stadium should keep in the forefront what the terms will mean to city taxpayers and to the city's credit rating.
The city cannot agree to fund the $150 million proposed by the stadium task force without extending itself well above the current $6 million commitment. Instead, the new funding structure asks city taxpayers to pony up $10 - $12 million annually.
Louis city should not be asked to shoulder the burden of the funding gap that was created when St. Louis County was given a pass for its share in building a new stadium.
When analyzing the risks and benefits, I reiterate that all funding partners should share equally in bridging the funding gap and minimize the burden to city taxpayers.
I can support building a new stadium and retaining a NFL team as long as that desire is balanced with community-building, public safety and other financial commitments.
The Comptroller of the city of St. Louis is charged with protecting the credit of the city and being a watchdog over taxpayer dollars.
Office of the Comptroller
Sports and Recreation
Most Read News
- Mayor Tishaura O. Jones Signs Senior Property Tax Freeze Bill, Bringing Relief to Senior Homeowners St. Louis joins dozens of local governments throughout the state of Missouri with the signing of this legislation.
- St. Louis City Municipal Division Moving to Case.net Municipal Court will use Case.net for new cases filed on or after January 2, 2024.
- City of St. Louis Department of Personnel to Hold Job Fairs to fill 300 Summer Positions The City of St. Louis Department of Personnel will hold job fairs on Saturday, March 2 and Saturday, March 9,