Board of Aldermen approves MLS stadium funding bill

ST. LOUIS, MO (KTVI) – The Board of Aldermen approved the Major League Soccer stadium funding bill. According to our partners at the St. Louis Post-Dispatch, the proposal passed on a 19-7 vote. The financing plan depends in part on voter approval of a proposed half-cent sales-tax increase on the April ballot.

The new plan calls for taxpayers to contribute $60 million toward the project, while private investors would add nearly $95 million.

St. Louis City Mayor Francis Slay held an emergency bill signing Friday afternoon to move the process forward.

Jim Kavanaugh, vice chair for SC STL, issued the following statement:

Today marks another important milestone for the effort to bring Major League Soccer to St. Louis. Our group appreciates the consideration and diligence of the Board of Aldermen over the past several weeks, and we thank Mayor Slay for signing the bill and asking a Circuit Court Judge to now certify the measure for the April ballot. This project will be a major victory for the City of St. Louis. We look forward to further sharing our vision with voters and detailing the merits of the projects in the weeks ahead.