About 60 minutes — and millions of dollars in projected new city revenue — made the difference between the death of St. Louis’ Major League Soccer bid at 10 a.m. Thursday and its surprising resuscitation an hour later in the Aldermanic Ways and Means Committee at City Hall.
Next it goes to the full Board of Aldermen for referral to city voters.
The city’s $60 million contribution to the downtown stadium, valued in total between $155 million and $200 million, was first defeated 6-2 on Thursday. Aldermen, attorneys and SC STL team investors rapidly poured out of the room after the vote to negotiate in the mayor’s office.
About an hour later, the bill was amended to include between $12.5 million and $17 million in projected new revenue going into the city’s general fund over 30 years. The measure passed 5-4.
Two weeks ago the soccer proposal before the board sought $80 million for a stadium. The current bill offers the city about $37 million in savings plus new money compared to the original.
Read more: St. Louis Post-Dispatch