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$40 million in tax credits sought for St. Louis stadium

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ST. LOUIS (AP) – The group seeking to build a soccer stadium in downtown St. Louis is seeking $40 million in state tax credits, in addition to $80 million in public funding from city residents.

The St. Louis Post-Dispatch reports that the tax credit request will be presented to the Missouri Development Finance Board Thursday in Jefferson City. A vote is expected Dec. 20.

The group SC STL wants to build a stadium as part of an effort to lure a Major League Soccer expansion franchise. The MLS has expressed interest in St. Louis as a site for future expansion.

St. Louis voters could be asked in April to approve $80 million for the project. Officials with SC STL estimate the cost of the stadium and acquiring a team at $405 million.