Missouri board OKs $15M in tax credits for St. Louis stadium

4 years 6 months 1 week ago Tuesday, August 18 2015 Aug 18, 2015 Tuesday, August 18, 2015 12:53:49 PM CDT August 18, 2015 in News
By: The Associated Press

JEFFERSON CITY (AP) - A Missouri board has approved $15 million in tax credits for a new St. Louis football stadium.

The Missouri Development Finance Board voted for the credits Tuesday as the first step in a potential $50 million tax-credit plan over three years.

The approval came despite pushback from Republican Lt. Gov. Peter Kinder, a board member who is running for governor.

Republican Rep. Jay Barnes, of Jefferson City, also spoke against it. He and other lawmakers were suing to block the state from taking steps to finance a stadium without legislative approval.

The tax credits represent a small chunk of the $998 million cost of the project.

The push for a new stadium is a counterproposal to efforts by Rams owner Stan Kroenke to move the team to Los Angeles.

 

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