Today the Missouri Development Finance Board approved $15 million in taxpayer-funded tax credits ($50 million total over next three years) for the proposed Saint Louis stadium.
The MDFB approved the tax credits even though the proposal is in two separate court cases. Rep Barnes pointed out the legislature is unlikely to allow bond payments to be appropriated in the budget. Senators Schaaf and Emery have already issued statements they would do all in their power to not allow bond payments.
Later, Lt Governor Peter Kinder addressed the fact Governor Nixon is approving debt for the new stadium without any vote of the people. Neither the people of St Louis, the city alderman, or the state legislator will have the opportunity to voice their opinion in the $1 billion deal, if Nixon has his way.
Kinder also mentioned Governor Nixon’s hypocrisy in pushing the legislature to end tax credits but now using them to fund the stadium and force the deal.