The city of St. Louis will "delay its request to the Missouri Development Finance Board" for $40M in state tax credits for a $200M MLS stadium, according to Brian Feldt of the ST. LOUIS BUSINESS JOURNAL. SC STL, the potential ownership group of the MLS team, said that the pause will "allow it to meet with Missouri-Gov.-elect Eric Greitens to learn about the project." Greitens yesterday "came out against publicly funding the stadium, which organizers have argued is important to luring a MLS franchise to St. Louis" (BIZJOURNALS.com, 12/20). In St. Louis, Mike Faulk in a front-page piece notes legislation last week was "introduced before the city’s Board of Aldermen that could ask city voters to approve" up to $80M for the stadium. St. Louis Mayor Francis Slay is "proposing two tax measures: a sales tax to help expand MetroLink and address crime and poverty, and a second proposal that would steer tax money to help build a soccer stadium downtown." If both measures are "placed on the ballot and voters approve," the stadium would be roughly 60% publicly financed. The city would "own the stadium and would enter a 30-year lease with the MLS team." SC STL has said that it would pay at least $150M to the league to "acquire a team and would pay for any construction cost overruns and ongoing stadium maintenance over the course of the 30-year lease" (ST. LOUIS POST-DISPATCH, 12/20). The AP's Jim Salter noted Greitens "doesn't take office until Jan. 9." Outgoing Gov. Jay Nixon has "expressed support for state funding," and MLS Commissioner Don Garber met with Nixon and "potential investors during a visit to St. Louis last year" (AP, 12/19).
