St. Louis Aldermanic Board OKs Stadium Tax Plan

By on December 5, 2018

From The Charlotte Observer:  The St. Louis Board of Aldermen approved a tax incentive package Friday to build a downtown soccer stadium, a significant step in the city’s effort to lure a professional franchise.

Aldermen approved the measure 26-2. State tax credits also are being sought.

The revitalized effort to attract a Major League Soccer franchise was announced in October. The ownership group includes World Wide Technology CEO Jim Kavanaugh and the Taylor family, owners of the rental car company Enterprise Holdings.

The owners will cover most of the stadium cost. Aldermen approved free use of the site, a 50 percent break on ticket taxes and a 3 percent sales tax on items sold at the stadium.

The MLS plans to award two additional franchises but hasn’t said when.

Carolyn Kindle Betz, granddaughter of Enterprise founder Jack Taylor and the company’s senior vice president, said the aldermanic resolution “brings us one step closer to our goal and helps demonstrate that America’s original soccer capital, St. Louis, is at the top of the table for an MLS expansion team.”

A financial impact report this week lauded the value of the stadium to the city, saying it would generate about $41 million in tax dollars over 30 years.

Passage of the tax plan is a big hurdle in St. Louis’ effort to once again be a three-sport city for the first time since the NFL’s Rams left for Los Angeles in January 2016.

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