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10-01-2016 LSU Pregame

St. Louis reveals stadium financing plans

Around Town

St. Louis reveals stadium financing plans

(KTRS) – Details are emerging concerning the city’s plan to foot $150 million of the cost for a new NFL stadium. The Post-Dispatch reports the city will pay $6 million a year toward the new stadium plus a rebate of some amount of game-day taxes. The annual payment will cover about $70 million of the […]

St. Louis reveals stadium financing plans

(KTRS) – Details are emerging concerning the city’s plan to foot $150 million of the cost for a new NFL stadium.

The Post-Dispatch reports the city will pay $6 million a year toward the new stadium plus a rebate of some amount of game-day taxes. The annual payment will cover about $70 million of the city’s financial commitment.

The remaining money will not be paid by St. Louis but the group that owns the Edward Jones Dome. Mayor Slay’s office told the paper that the payment plan they obtained was just a draft. The amount of game-day taxes returned to the team is an important compromise–if too high a percentage is refunded, the city could lose a large stream of revenue.

NFL officials have not seen the newest financing proposals.

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By Colin Jeffery

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