St. Louis County funds “not necessary” for new NFL stadium

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ST. LOUIS, MO (KTVI)- There are new questions over the funding plan for the new proposed NFL stadium on the riverfront just north of downtown. This comes after the st. Louis county executive says the county won`t be helping to fund the project. St. Louis County Executive Steve Stenger says the county isn`t pulling out of the new stadium deal. But rather, he says Governor Nixon`s office has told the county that its funds aren`t needed for the project.

Governor Nixon has said a large chunk of the public funding for the new stadium would come from extending the bond payments on the current Edward Jones Dome. The county currently pays out six million dollars a year on those bonds. That county money comes from hotel motel taxes specifically passed for stadium funding. If the governor says the county funds aren`t needed for the new stadium, the question being asked is where will the six million dollars a year that the county would have contributed be made up.

Governor Nixon`s office issued a statement reading in part that 'the role for St. Louis County relates to their continued support of the existing dome and convention center, "We continue to make progress on a clear path forward to build a new stadium in St. Louis."

Dave Peacock, the Co-Leader of the new Stadium Task Force, also issued a statement:

"Just as the stadium design has evolved, so too will the process to determine financing. What remains the same is the positive impact that a new riverfront stadium will have on our economy, in the creation of jobs and ensuring that St. Louis remains an NFL city, today and always."

Organized labor is among those closely watching the stadium developments. This project means jobs for a lot of workers.

 

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