Missouri Gov.-elect Eric Greitens and SC STL investors met yesterday after "weeks of public debate on state funding for stadiums," but it is "still not clear whether the Greitens administration would help make" the group’s $200M St. Louis stadium plan a reality, according to Mike Faulk of the ST. LOUIS POST-DISPATCH. SC STL was "expected to receive" $40M in state tax credits for stadium construction on Dec. 20. However, SC STL "pulled the proposal from the state Development Finance Board hours before the vote in an effort to win Greitens over and resubmit it." Greitens, who takes office Monday, earlier this week said he had “completely ruled out state funding for stadiums.” Faulk notes SC STL also "needs the St. Louis Board of Aldermen to propose a ballot measure for the April election giving voters the choice of putting" up to $80M toward the stadium. The money would "come from an increase in the city’s business use tax, which would depend on voters also approving a sales tax increase to fund MetroLink expansion and public safety." With expansion team applications due to MLS by Jan. 31, SC STL Vice Chair Jim Kavanaugh said the group would "need to know by then what role, if any, the state would have in the project." Former A-B President Dave Peacock, one of the leaders of SC STL, said it would be "very difficult" to bring a team to St. Louis without some state financing (ST. LOUIS POST-DISPATCH, 1/5). Kavanaugh said that SC STL has "discussed a few 'Plan B' options in the case the state funding would not be available." However, he noted there "aren’t a whole lot of options on the list and some of them are a long shot" (BIZJOURNALS.com, 1/4).
COMPARE & CONTRAST: In St. Louis, Benjamin Hochman writes it is "fair and important that we consider support" for SC STL, "that we take time to hear the group out, that we try to see the vision they’re seeing, that we, if anything, acknowledge that it’s pretty cool that people are even trying to make MLS happen here." Wealthy people have "plenty of options for investments, but SC STL is investing in St. Louis, for St. Louis." They will "ultimately profit off this," but this is "not 'welfare for millionaires.'" Hochman: "They’re asking for some public funding because ... they feel the combination of monies is the best formula for everyone’s success." SC STL is not "trying to con St. Louis; they’re trying to connect it" (ST. LOUIS POST-DISPATCH, 1/5).
WHAT SAY THEY? In St. Louis, Faulk & Erickson in a front-page piece report Missouri House and Senate leaders are "skeptical of using public money for sports arenas but left the door open" to support $138M in renovations to Scottrade Center. Missouri House Speaker Todd Richardson said, "I am not going to pass judgment. I don’t know what their ask is going to be." Missouri Senate President Pro Tem Ron Richard said that "voters should have a say on such issues." Faulk & Erickson note the public’s costs would be fixed, meaning any cost overruns "would fall to the private ownership group." Blues ownership would provide $50M "in private spending on Scottrade Center improvements spread out over the next 30 years." Richardson said that he "doesn’t think public funding for such projects is a good idea" (ST. LOUIS POST-DISPATCH, 1/5). The POST-DISPATCH's Jose de Jesus Ortiz writes it "would be unfair" to Blues Chair Tom Stillman, the team and fans to "compare the Blues’ request for Scottrade Center upgrades" to SC STL's requests for taxpayer money for a stadium. Scottrade Center "doesn't compare anymore" to other NHL and NBA arenas, and an upgrade is "long overdue." Ortiz: "You can debate all you want whether taxpayers should take a gamble on MLS, but nobody can deny that the Blues under Stillman have earned the benefit of the doubt" (ST. LOUIS POST-DISPATCH, 1/5).
