According to the Building Blocks column on StLToday, that'll be $230M over the next 20 years, and it'll come straight from KC's coffers. Tax revenue for something else? Nope, got to go to these bonds KC supported with its full faith and credit.
Story:
http://www.stltoday.com/business/column ... 2bc8b.html
I remember Cordish talked about wanting StL to fully support, with "full faith and credit", the costs of BPV, which was eventually denied them (Darlene Green, great job!). That's one of the reasons for the giant delay we have: StL denied the "full faith and credit" of the city's tax revenues.
Why is our country's economy so effed up?
Because we lived for years on the belief that real estate would only appreciate & can always be refinanced.
We dodged a bullet that would've bled us for years. We were lucky.
Side note/recommendation, read
The Big Short: Inside the Doomsday Machine by Michael Lewis. As well as explaining how we all got here with the markets, it very well tells the story of how everyone fell in love with real estate & getting loans to pay for real estate, and then it all falls down. While the most economic blood has been from personal residences, commercial projects like PBV relied on the same credit foundations. Thankfully the City sidestepped the pervasive groupthink. Great book.
Still, the site's very developable (hint hint, Cordish & DeWitt, get to work already).