St. Louis 6th Ward Alderwoman Christine Ingrassia this week announced a city bill to put $80 million into building a downtown soccer stadium would “not be going forward.”
Ingrassia joined The Ryan Kelley Morning After to give her perspective on the issue and discuss her communication with the MLS ownership group, SC STL.
We’ve included several excerpts from the interview, which you can listen to in full below.
How would you characterize the status of the bill you proposed?
“I think it’s unfortunate, but I think we’re at an impasse. I don’t feel comfortable at this time…moving the bill forward. I still don’t have detailed financial information or peace of mind that where we are would be something that would be revenue-neutral or revenue-generating. It’s a guaranteed liability again (just like Scottrade Center and the dome are).”
MLS expansion ownership group, SC STL, sent out a statement saying it’s “committing $240 million in start-up funding, as well as taking full responsibility for facility maintenance and potential cost overruns.” What’s your response to that?
“I think that’s great. I’m still willing to have conversations, unfortunately not in time with the April ballot. I was told they would have an answer no later than yesterday morning from Eric Greitens and that did not occur. And the mayor’s office sent a message to the ownership group…indicating that it was time to pause as well. The current term sheet and verbal commitments of $240 million are greatly appreciated…but not enough to make sure we don’t lose money in the city.”
And $80 million is too much for the city to take on?
“From the figures I’ve run along with the mayor’s office…we were much more comfortable at $60 million. That would’ve been a revenue-neutral financial proposal.”