The Aldermanic Ways and Means Committee in St Louis has approved major financing proposals for renovations at Scottrade Center, the home of the St Louis Blues NHL ice hockey franchise.
The committee gave the green light to a $105m (£84m/€97m) funding proposal to run over 30 years, including cash and interest. The plan includes $50m from a district tax on sales at the venue over the next three decades.
The original proposal was amended slightly, with an increased number of sources for paying off the debt, including $55 million from a five-per-cent tax on ticket sales.
However, City Deputy Comptroller James Garavaglia said that the Comptroller’s Office remains opposed to the deal – particularly with regard to the ticket tax revenue not kicking in until 2034.
A further $20m has been pledged by the team’s ownership group towards additional improvements at the venue.
The planned renovations include new seating throughout the venue, a new scoreboard in the centre of the facility, as well as upgrades to the sound and lighting systems.
Meanwhile, a financial proposal has been approved for a new Major League Soccer stadium in St Louis. Under the proposal, the SC STL investment group, which is leading the campaign to take MLS to the city, would pay $95m for the stadium.
St Louis was one of 12 cities to apply for an MLS expansion team on Tuesday.
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