urbanSTL

The Taylors could always go the reverse-nuclear option and threaten to pull Enterprise out of Missouri if they don't get the funding (barring that them doing that is extremely unlikely to happen).

addxb2 wrote: ↑

Dec 17, 2019

I dont believe this project will fall apart over $24m. MLS has been forgiving to Miami. MLS2STL counted the money before the deal was closed.

Plus Nashville is having a number of issues and I don't see the MLS threatening them with losing their team.

https://www.tennessean.com/story/news/l ... 384216002/

Ebsy wrote: ↑

Dec 18, 2019

The idea that this would become a major issue in the gubernatorial race next year is downright laughable.

It's very easy to do so, Ebsy: Think outside of sports and more towards general economic development. 

The support from the MDFB was a pledge to a business to establish itself in MO and build hundreds of millions of dollars in new facilities, that was originally pledged full economic support by the Governor's economic development team, and at the last hour is being pulled back, blindsiding the new company's leadership. Specific allocations were announced. The Governor himself stood out in front, including to MLS Commissioner Garber personally, to claim supporting credit for this venture and new investment in Missouri. Then, at the last minute, after all the confirmations were made and the ink was dry, the MDFB clawed back their end of the deal, out of the clear blue sky. 

What if this happened to General Motors in Wentzville? 
Fear of such a thing is now tangible and reasonable, because it's happening before our damn eyes. 

The Governor's administration stepped in, made a promise, took credit, and withdrew their pledge at the last damn minute... How the living eff are we supposed to bring new businesses to Missouri, let alone Saint Louis, if the state government cannot keep its word to local business? More than that, two of the largest private companies in the US, both of which are HQ'd in MO? 

Let's remember that these credits are to go to the remediation of the 22nd Street Parkway site, a failed State-owned highway spur which has been little more than a dirt dumping ground from the widening of 64/40 a decade ago. It's current condition is innately prohibitive to both new investment and proximate neighborhood stabilization. For God's sake, it's an Enterprise Zone and TWO Opportunity Zones in the middle of Downtown West! And let's absolutely not forget all of this is part of the reconstruction of the Jefferson Avenue Bridge anyways, in support of the new NGA West HQ. This land, which is producing ZERO tax revenues, is being bought for Fair Market Value by the ownership group. The State's financial support was to allow the site to be built upon new, after decades of neglect and more than ten years of dumped dirt forming a stupid mound in the middle of it. 

For all those who think the Taylors and Kavanaugh can just find another $20MM to throw at it? Yeah, maybe. They would hate it. They won't give up on everything, but I know they're pretty damn livid right now. And if I was them, I'd begin allocating just as much money MDFB is now shorting them into supporting Galloway's campaign to unseat Parson as Governor. 

Ben Frederickson of the STL Post-Dispatch, who has been tweeting about this withdrawal of support for the last day, pointedly referenced an article written by Jacob Barker on August 25th: ‘Clearly a better deal’: City taxpayers’ opposition to 2017 MLS stadium plan worked out in long run. 

From the article: 

Missouri Gov. Mike Parson’s administration, too, has signaled it is on board, a reversal from former Gov. Eric Greitens’ accusation that using state tax credits for the proposed 2017 stadium was “welfare for millionaires.” The St. Louis Land Clearance for Redevelopment Authority, part of SLDC, has already approved a measure to apply for $30 million in state tax credits from the Missouri Development Finance Board to aid in the stadium financing.

Lt. Gov. Mike Kehoe, who was at Tuesday’s announcement and whose late uncle was St. Louis soccer legend Bob Kehoe, sits on the MDFB board. He told the Post-Dispatch that he and Parson have “a great relationship” with Krewson and “we’ll absolutely be a partner going forward. There’s no doubt in my mind.”

The issue is that these monies were pledged, then withdrawn at the last minute after all other commitments were made. It's important to really recognize that these tax credits were to fund infrastructure improvements around the stadium's footprint, and not for the construction of the stadium itself. This fact has been long established and had not been contested until the time when the MDFB meeting was cancelled. 

Again, it's not that the Governor up and changed his mind, but that his administration's picks on the MDFB (legacy from Greitens) denied what the Governor and the Lieutenant Governor had pledged. This sends a very bad message to businesses considering STL & MO for new operations. It's very damaging politically. 

Ben Frederickson, St. Louis Post-Dispatch: Sticking to sports, Missouri governor Parson is the worst kind of teammate

This article succinctly lays all of these issues out, and he's not pulling his punches. Solid write-up. 

Also, question for the Mods... Is this article and line of conversation better in this thread or in the Downtown thread like Urbanitas re-routed his comments? 
Seeking clarity for future participation. Thanks