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Hearing to cover new St. Louis stadium

Proposed St. Louis stadium

Missouri lawmakers will discuss the economic impact of a new St. Louis stadium, as officials continue their efforts to keep the NFL there.

Proposed state funding for the new waterfront stadium would extend the current funding for Edward James Dome, as $300 million to $350 million would go toward the new facility, expected to cost a billion dollars. The state currently pays $12 million annually toward Edward James Dome, and Gov. Jay Nixon says the current bonding for that facility could be carried over for a new NFL stadium.

Some legislators, however, want a say in the matter and have introduced bills limiting the governor’s power to extend the bond sale. From the St. Louis Post-Dispatch:

Monday’s meeting was called by House Government Oversight and Accountability Chairman Jay Barnes, R-Jefferson City. House Speaker John Diehl, R-Town and Country, asked Barnes to analyze the stadium’s costs and benefits.

In his weekly newsletter, Barnes called his committee’s work “a limited inquiry that will not reach whether government should finance a new stadium. Just because something may profit the government does not mean it should be done.”

It’s worth noting that Rams owner Stan Kroenke is not participating in the new St. Louis stadium talks; he’s working on a plan for a new Inglewood, Cal. stadium near Los Angeles International Airport. However, with multiple NFL teams potentially on the move, moving forward on a new stadium could potentially attract a new team.

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