The MLB Cardinals are "finishing their own game plan"
for replacing 49,738-seat Busch Stadium with a "trendy,
new," 47,900-seat, $370M ballpark, according to Charlene
Prost of the ST. LOUIS POST-DISPATCH. The estimated cost of
the proposed ballpark itself would be $290M, while the $370M
figure includes $40M in financing costs, about $15M for a
proposed baseball museum and public plaza, $20M for the
value of the land the Cardinals owners would contribute and
about $5M for site improvement. The team "would contribute"
$120M for the ballpark, including $100M in cash and $20M in
land. Team ownership has proposed a $250M tax-exempt
revenue bond issue that they said "could be paid off with
part" of the city and state tax revenue the team generates
each year. The proposed ballpark, designed by K.C.-based
HOK Sports, would have 9,865 premium seats, compared with
3,625 at Busch, and more low-cost seats than Busch,
including 864 more bleacher seats. The ballpark's design is
"an architectural pastiche in mostly red brick" and would be
built "south" of Busch and "sport a bigger footprint" than
Busch, with a museum and plaza. Cardinals Minority Owner
Andrew Baur, on the plan: "The beauty of this new plan is
that it would be a ballpark with development around it,
rather than the isolated stadium we have now." Cardinals
Minority Owner William DeWitt, on the need for a new park:
"Since we bought the team [in '96], we've had negative cash
flow, every single year" (ST. LOUIS POST-DISPATCH, 4/9).
