[Elvis]

http://www.stltoday.com/business/local/ ... 5dc5e.html

St. Louis comptroller to oppose stadium financing bill

Updated at 4:50 p.m. with more details

ST. LOUIS • City Comptroller Darlene Green announced that she will oppose the stadium financing plan now before the city’s Board of Aldermen, saying that the aldermanic bill to fund construction of a riverfront football stadium “is not fiscally responsible.”

The comptroller said she was worried the current plan creates a funding gap for the city and puts its credit rating at risk.

Instead, Green is proposing two possible solutions if the current bill is passed: Missouri should create a state sports authority able to finance more of the stadium costs, or that the city work with regional businesses on a plan to find additional money.

“If the bill is passed in its current state and presented to the Board of Estimate and Apportionment, my vote will be ‘no,’” Green said in a news release issued late Friday afternoon.

Green is one of three members of the city’s Board of Estimate and Apportionment, which approves the city’s real estate deals, appropriations and its operating budget. The other two members are St. Louis Mayor Francis Slay and Board of Aldermen President Lewis Reed.

In her news release, Green noted that a state sports authority could raise money from tourism activities, such as rental car surcharges, and issue bonds to pay for sports projects.

“Between the St. Louis Cardinals, Kansas City Royals, the Blues, St. Louis Rams, Kansas City Chiefs and collegiate teams, there is far more synergy for a statewide sports authority in Missouri than in many states that already have them,” Green said.

Green also supported a draft bill sponsored by Alderman Donna Baringer that would create a Crime Reduction and Professional Policing Fund that would provide the city with additional money.

“Regional businesses would be asked to partner with the city to finance the CRPP fund and close the budget gap that would be created if the stadium funding bill is passed,” the comptroller said.

Green’s opposition isn’t a surprise since she has been critical of the efforts to use public money for a $1 billion stadium in hopes of keeping the Rams from leaving the city, or enticing another team to come.

The current plan calls for the city to finance about $145 million of that project.

The bill is now before the aldermanic Ways and Means committee. If approved by the committee, the bill would then go before the full Board of Aldermen.

[Hacksaw]

I don't see her stopping the approval. Especially if she gets her crime bill or other pork. We'll see. Then the senators can have at it. All for the approval of what to date is a crappy plan with few options available which might sweeten the pot for Stan.

[max]

Can they change the plan after it gets approved?

[OldSchool]

Can they change the plan after it gets approved?

My understanding is no, any changes would also need to be approved.

[max]

Can they change the plan after it gets approved?

My understanding is no, any changes would also need to be approved.

If thats true, then they are in more trouble than the STL media boys are saying.

[Hacksaw]

Very good point. So currently a plan has been submitted as 'the plan' to the NFL LA committee who didn't like it,,, and it was submitted to the BofA who were told its not the plan but only a draft because the NFL didn't like it. Now the locals there are saying the task force, mayor and some dude from GS, are doing their magic to bring the plan up and essentially change it. Perhaps that is why the league and the BofA are holding off their meetings/decisions until later.
This gives the StL folks even more time. StL is getting an awful lot of chances (too bad LA didn't get this sort of opportunity) to work it out, despite being the culpable party in how things got here in the first place.
It makes me wonder if the Rams move to LA isn't be being met with alternate resistance.

[Rams the Legends live on]

Can they change the plan after it gets approved?

My understanding is no, any changes would also need to be approved.

With the right local judge they probably could he would just say the new language woks in conjunction with the old and all the language is adjacent to each other in meaning, plan, and scope.

[Hacksaw]

Can they change the plan after it gets approved?

My understanding is no, any changes would also need to be approved.

With the right local judge they probably could he would just say the new language woks in conjunction with the old and all the language is adjacent to each other in meaning, plan, and scope.

Ha ha, adjacent ,, yeah, you mean like the Gnat is adjacent to the EJD? lol

[Elvis]

The Treasurer is also concerned with the proposal:

[BuiltRamTough]

There's a lot of opposition against stadium funds in STL. I wonder if they'll be able to pass it. It's going to be an interesting December.