missouri development finance board

St. Louis Arch
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St. Louis aldermen are meeting in special session to consider approving the city's share of funding for a new NFL stadium — $150 million.


A Missouri board has approved $15 million in tax credits for a new St. Louis football stadium, part of a push by the state to counter efforts by Rams owner Stan Kroenke  to move the team to Los Angeles.

Updated with vote - The Missouri Development Finance Board Tuesday approved tax breaks to help fund a proposed new NFL stadium in St. Louis. This vote was for $15 million out of what's expected to be a total of $50 million in credits.

It's part of a revised stadium proposal that would cost $998 million, including $820 million for sight clearance and construction.

missouri capitol
File photo / KBIA

  Missouri legislative budget leaders have embraced a financing plan for a new facility on the Fulton State Hospital campus.

The proposal calls for issuing bonds through the Missouri Development Finance Board and paying them off over 25 years. The upcoming year's budget would include $14.2 million for payment on bonds. House and Senate negotiators are working today on a final version of next year's state budget.

The financing proposal approved today by the lawmakers follows Governor Jay Nixon's plan for the project.