ST. LOUIS (KMOX) – Backers of a proposed new football stadium on the St. Louis riverfront are roving the hallways at St. Louis City Hall.
Stadium booster Dave Peacock met with select aldermen giving them highlights of the funding plan as it now stands.
“(We are) getting a read from aldermen, where they stand on just this concept, and making sure we do it the right way,” Peacock says. “It’s a mix, some are (receptive) I think, for some it’s probably a bigger struggle.”
Alderman Jack Coatar says he’s still not convinced.
“I haven’t seen the specifics of his funding plan,” Coatar says. “I’ve heard sort of broadly about it. I’m waiting for the detailed financial report. And if the numbers make sense, it’s a project I’ll be inclined to support, but I’m still waiting to see the specifics.
And Coatar says he won’t go for any deal that saddles taxpayers with more debt service than they would’ve had on the Edward Jones Dome.
Peacock says he’s still working to assemble land, and to nail down $600 million in private financing for the billion-dollar project.
“It’s chicken and egg,” Peacock says. “I think if we pass the public financing package and get the design kind of completed, we’re in a position where if you go by the relocation guidelines of the NFL, our team really can’t move. So then, that’s when we expect the private financing to come in.”
(TM and © Copyright 2015 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2015 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
Follow us on Twitter | Like us on Facebook