Obama proposal on tax-exempt bonds could hurt St. Louis stadium

Renderings created by HOK Sports for the mmqb.com.
The plans for a new riverfront stadium in St. Louis could be in jeopardy with approval of a proposal in President Obama’s budget that would prevent the use of tax-exempt bonds to pay for professional sports venues. | Renderings created by HOK Sports for the mmqb.com.

A plan to build a new stadium for the St. Louis Rams could run into a roadblock with approval of a proposal in President Barack Obama’s budget that would prevent the use of tax-exempt bonds to pay for professional sports venues.

Backers of the stadium plan, which seeks to keep the Rams in town with a new, 64,000-seat venue on the St. Louis riverfront, have said it would have numerous sources of funding, including the possible extension of tax-exempt bonds being used to pay off the Edward Jones Dome.

A 2012 analysis by Bloomberg said the U.S. Treasury missed out on about $150 million in tax revenue because of the use of tax-exempt bonds on stadium projects.

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