City Leaders Approve Tax Breaks for Stadium Project
St. Louis, MO – The St. Louis Board of Aldermen Friday passed two bills that city officials say will lay the groundwork for a new Cardinals stadium. The board approved a ticket tax reduction measure and a redevelopment plan that designates more than 40-acres around the current stadium for new commercial properties. The amusement tax on tickets would be eliminated if at least $200-million is spent on the deal. First ward alderwoman Irene Smith voted against both measures. She says they don't adequately protect city revenues.
With the Cardinals considering a move to the Metro East, the city hopes the deal will be completed before Illinois lawmakers meet for their annual veto session next month.