[Elvis]

http://www.stltoday.com/news/local/govt ... 21c4e.html

Slay pitches giving NFL team two-thirds of tax revenues

David Hunn

ST. LOUIS • The office of Mayor Francis Slay has committed to giving about two-thirds of the city taxes generated by a new riverfront football stadium to the team that plays there, according to legislation sent to the city’s Board of Aldermen on Wednesday.

But it is also hoping Aldermen will agree to hold on to a chunk — team income taxes and a portion of stadium sales taxes — which it estimates will bring the city a few million dollars a year to refill coffers.

Mayoral deputies and Gov. Jay Nixon’s task force spent hours on Tuesday rewriting key financial provisions of the bill before sending it to the aldermen, with hopes that they're generous enough to keep a National Football League team in St. Louis.

The group downgraded projected city game-day tax revenues by millions of dollars a year, committing instead to much more conservative estimates.

It revamped bond debt payment schedules, reducing city payments in early years and increasing them in later years to better match expected tax revenues.

And, perhaps most importantly, Slay staffers negotiated keeping about 36 percent of the game-day tax revenues.

Year-by-year, city revenues will not cover expenses, mayoral staffers acknowledged. But, with a big dollar uptick during the first three years from construction of the stadium itself, the deal will roughly break even, they said.

Slay’s chief of staff, Mary Ellen Ponder, called the package fair for city taxpayers and for an NFL team.

“We have worked very hard with the task force to develop a plan that is fair and reasonable,” she said. “We are proud to support (the bill) and look forward to working with the Board of Aldermen to earn its approval in the weeks ahead.”

The bill and accompanying financing package will be introduced at the Board of Aldermen’s regular meeting this Friday.

Ponder and Dave Peacock, co-chairman of the stadium task force, have been working for weeks to find enough funding to cover the city’s share of the $1 billion stadium construction cost — about $145 million — without hurting the city’s budget or credit rating.

Aldermen, meanwhile, have waited impatiently for financing details. And city officials, such as Comptroller Darlene Green, have blasted the still-forming plan by public statement.

Finally, last Friday, a draft bill leaked out.

This story is breaking. Check back for updates.

[The Ripper]

And, perhaps most importantly, Slay staffers negotiated keeping about 36 percent of the game-day tax revenues.

They're negotiating with the task force not the League or the Rams so this is meaningless.

[Elvis]

[bluecoconuts]

Didn't the NFL say they consider tax revenues theirs?

[TSFH Fan]

And, perhaps most importantly, Slay staffers negotiated keeping about 36 percent of the game-day tax revenues.

They're negotiating with the task force not the League or the Rams so this is meaningless.

I think they're negotiating with perception, which, ultimately is also meaningless.
It's about selling the alderman, and, indirectly, the swayable factions of the public, IMO . . . the decision makers are elected officials, after all.

[Elvis]

Here's a better link to the document:

http://media.bizj.us/view/img/7474682/e ... eement.pdf

[OldSchool]

How generous of him to give the team a portion of revenues that are theirs.

[TSFH Fan]

So, 35 year lease?

Looking at Article III, Section III.1.(b) and looking at Exhibit C, it looks like they're proposing sticking the poor tenant with a 35 year lease and not just a 30 year lease (along with a non-relocation agreement).

[The Ripper]

The game day taxes are still subject to annual appropriations which means the revenue streams have uncertainty.

[Elvis]

http://www.insidestl.com/insideSTLcom/R ... o-NFL.aspx

Strauss: 'Pretty Clear' Stadium Plan Not Yet Satisfactory to NFL

Brendan Marks posted on October 28, 2015 16:47

St. Louis Post-Dispatch columnist Joe Strauss called into The Hollywood Casino Press Box on Wednesday to give his thoughts on Rams fans and the NFL Town Hall Meeting at Peabody Opera House.

We typed up a couple excerpts from the interview, which you can listen to in full below:

What did you think about how Rams' fans did at the Town Hall meeting?

"I think that was to be expected. This was people's one chance to give their opinions...toward an entity that hasn't had a whole lot to say to them. If adults want to put on Rams shirts and...bleed in front of 1,500 fellow fans, that's fine. My point is, what's this going to do to the process. What happened last night is going to have very little - if any - impact on the process."

What type of influence do you think NFL VP Eric Grubman really has?

"I don't think anyone on that stage last night is really going to directly impact the process. You had these people spilling their guts out on the floor in getting emotional about the situation...Grubman layed out...what has to happen. It was made pretty clear that...(the task force's stadium plan), what's been forward is not entirely satisfactory to the league right now. That's the bigger issue here. There are brass tacks that have to be addressed here and they go well beyond a show of passion at the Peabody last night."

Here's the complete segment: