The St. Louis Board of Aldermen has approved a resolution outlining tax incentives for a proposed downtown soccer stadium, clearing an initial hurdle in the effort to attract a Major League Soccer team to the city.
Aldermen voted 26-2 on Friday to approve the resolution. It outlines a financing plan for the stadium but doesn’t create laws to secure tax incentives.
Actual laws would come later, if the proposed ownership group — World Wide Technology CEO Jim Kavanaugh and several members of the Taylor family, owners of Enterprise Holdings — is able to lure an MLS team to the city.
Incentives outlined in the resolution include:
- Free use of the proposed stadium site
- Full exemption on sales tax for construction materials
- A 50 percent break on ticket taxes
- A 3 percent sales tax on goods sold at the stadium
Read more: St. Louis Post-Dispatch