In the next two years, stadium officials plan to request $17.5 million from the finance board each year
(KTRS) – A Missouri group approved $15 million in tax credits for the proposed development of a new NFL stadium in St. Louis.
This is just the first step for the Missouri Development Finance Board toward approving $50 million over the next three years. Officials say the money will not go to the stadium planners until they are promised the tax credits are good for the state. The planned stadium comes with a price tag of nearly a billion dollars.
The Dome authority plans to pay for the stadium with $450 million from the NFL, $201 million from bond proceeds from the state and city of St. Louis, $160 million from seat licenses, and the remainder from tax credits.
In the next two years, stadium officials plan to request $17.5 million from the finance board.