St. Louis soccer stadium tax plan wins approval of aldermen

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

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