ST. LOUIS - The President of the St. Louis Board of Alderman is encouraging his fellow elected leaders to approve a resolution that would pave the way for a soccer stadium to be built in St. Louis. Reed expects the resolution to be approved and hopes approval will come during a hearing scheduled for 9 a.m. at the Kennedy Hearing Room at St. Louis City Hall on Wednesday.
“If we want to see a bigger, stronger St. Louis we’re going to have to latch on to these very smart investments when they come around,” said Reed.
Soccer supporters are hoping for a big turnout at Wednesday’s hearing. They have been encouraging supporters to attend. The resolution outlines tax breaks the team’s owners would receive in return for the owners building a stadium. Reed says the deal would generate at least a $1 million in annual tax revenue for the city.
“That’s more money to put into public safety, more money to put in our schools, more money to put in our rec programs, more money to strengthen our neighborhoods,” said Reed. “We need to get this thing done.
Skeptics have expressed concerns over what would happen if the league folds. The city would own an empty stadium. There are also those who oppose tax incentives for stadium deals. Reed says the deal would help generate revenue for the city at a site that’s currently empty.
He said, “We haven’t received a dime from this ground in 60 years and I think it’s a good investment for the residents of the city.”
The full board could vote as soon as Friday if the resolution is voted out of committee on Wednesday.