Ordinance 70509

Summary

BOARD BILL NO. 290 INTRODUCED BY ALDERWOMAN CHRISTINE INGRASSIA, ALDERMAN JACK COATAR An ordinance recommended by the Board of Estimate and Apportionment and the Board of Public Service authorizing and directing the execution and delivery of a Stadium Project Financing, Construction and Lease Agreement (the “Financing Agreement”) by and among The City of St. Louis, Missouri (the “City), SC STL LLC (“SC STL”), and the Land Clearance for Redevelopment Authority of the City of St. Louis (the “Authority”), pertaining to the design, construction, financing and leasing of a new multi-purpose stadium designed to host professional soccer and amateur sports, concerts, and community events (the “Stadium”) to be located on property currently owned by the Missouri Highways and Transportation Commission (the “Commission”) as part of the I-64 at 22nd Street Interchange (the “Property”) and issuance of and provision for repayment of bonds issued by the Authority to finance said facility; authorizing the planning, design and construction of certain public works or improvements related to said facility; authorizing and directing the Mayor and the Comptroller to enter into and execute, on behalf of the City, said Financing Agreement; authorizing and directing the taking of other actions and approvals and execution of other documents as necessary or desirable to carry out and comply with the intent hereof; and containing an emergency clause and a severability clause.

Download