St. Louis Public Radio News
9:52 am
Tue November 19, 2002

State Board Approves Help for New Cardinal Stadium

Jefferson City, MO – The Missouri Development Finance Board Tuesday authorized nearly $30-million in state tax credits to help pay for infrastructure costs for a new Cardinals ballpark. The credits will be issued over the next two fiscal years. Missouri Department of Economic Development director Joe Driskill says one condition of the agreement is that the board will have the power to negotiate a lower tax credit level, based upon economic conditions at the time the stadium deal closes.

The state will also be involved with environmental cleanup and transportation improvements near the future stadium site.