Vote to use tax credits for MLS stadium postponed at request of - KMOV.com

Vote to use tax credits for MLS stadium postponed at request of SC STL

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A rendering of the proposed MLS stadium that would be built near Union Station. Credit: MLS A rendering of the proposed MLS stadium that would be built near Union Station. Credit: MLS

ST. LOUIS (KMOV.com) – The Missouri State Development Finance Board postponed Tuesday’s vote from the City of St. Louis for $40 million in tax credits to go towards the proposed Major League Soccer stadium in downtown.

SC STL, the group trying to bring Major League Soccer to the area, requested the vote be postponed so they could meet with Governor-elect Eric Greitens and more fully engage on the project with him before moving forward.

Monday, Greitens said he was opposed to using taxpayer money to build the stadium. In a statement, Greitens said the project was “nothing more than welfare for millionaires.”

SC STL Chairman Paul Edgerley issued the following statement regarding the decision to postpone the vote:

While we were disappointed in the statement yesterday by Governor-Elect Greitens, we respect that he and others may differ from our views.  We continue to believe in the substantial economic and other benefits of this project to the State and to the City of St. Louis.

Given current developments, we are postponing our scheduled meeting with the MDFB this morning so that we can personally meet with Gov. Elect Greitens in the days ahead to gain a complete understanding of his position and fully brief him on the project and the benefits it affords to the State of Missouri. 

As revealed in an independent study released by the Missouri Economic Research Center, the project will produce a net positive economic impact for the state with more than 400 permanent jobs created,  the generation of tax revenues that more than returns the State’s investment,  and the ability to build upon the continued revitalization of Downtown St. Louis.  We’re hopeful that Gov. Elect Greitens, who campaigned on a pro-business platform, will welcome the opportunity to learn more about the upside of the project for the State and City alike.

In the meantime, we appreciate the support we’ve received from Mayor Slay and we look forward to a continued transparent process with the city.

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