ST. LOUIS (KMOX) — The message from the Missouri Department of Economic Development is that $30 million in tax credits for a new St. Louis soccer stadium is too much.
According to the Post-Dispatch, the state's development finance board canceled its meeting yesterday, to the surprise of the St. Louis MLS ownership group.
Related: MLS stadium construction plans hit a snag in Jefferson City There's a request for $15 million in credits for the stadium, and the city of St. Louis has also requested $15 million for the cost of acquiring the land from MoDOT. In an email to the Post, spokesperson Maggie Kost says approving that $30 million in credits would have required increasing a cap that has a $10 million annual limit. While the economic development director and Governor Mike Parson
could approve it, Kost says they didn't believe it's the right decision for the state. No word yet on next steps by MLS4TheLou.
Mayor Lyda Krewson released a statement to KMOX News:
“The City of St. Louis and Mayor Krewson remain incredibly excited about having an MLS team. We don’t believe the state’s decision will interfere with our support of the #MLS4TheLou ownership group and their commitment to this project. It’s a more than $460 million private investment in Downtown West that will anchor a revitalized mixed-use district, create hundreds of construction and permanent jobs, and unite the City around this global sport. Bring on 2022!”
Meanwhile, MLS4TheLou officials are holding a public open house Thursday about the new Major League Soccer stadium.
Along with the city of St. Louis, they will also focus on the closure of the Chestnut/20th Street ramps to and from Interstate 64, along with changes and re-routing around nearby streets.
It'll be held from 11 a.m. to 7 p.m. Thursday at the nearby Pear Tree Inn on Pine and 23rd Street. There's no formal presentation and you can come and go as you please.
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