Comptroller's Updated Statement Regarding New Stadium Funding

by Comptroller Darlene Green

October 28, 2015 | 2 min reading time

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.

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The Comptroller of the city of St. Louis is charged with protecting the credit of the city and being a watchdog over taxpayer dollars.

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