You Paid For It: BOA President Lewis Reed votes to move forward with Lambert Airport privatization study

ST. LOUIS – You Paid For It sits down with St. Louis Board of Aldermen President Lewis Reed, whose vote allowed and St. Louis Lambert Airport privatization study to go forward.  Reed says it could be a big plus for taxpayers.  He and Mayor Lyda Krewson voted for the study to see if the airport should be privatized at the meeting of the St. Louis Estimate and Apportionment Board.

Comptroller Darlene Green voted no.

Reed insists privatization could mean a lot of new revenue for the city to help St. Louis meet its expenses but he admits there's no guarantee of the city getting all the money promised.

Right now, there is a team of consultants studying whether Lambert should be privatized.

They'll be ready to make their recommendation in about 2 years.

In the meantime, a private company Grow Missouri is paying all those consultants which comes to around $800,000 per month.

Taxpayers aren't paying now, but they could pay later.

If privatization is ultimately approved taxpayers would have to reimburse Grow Missouri for the cost of all those consultants. That money would come out of airport revenue.