Why would any money from the Rams have strings attached?
They aren’t going to say here is 600 million but you have to do X with it. I can’t imagine they care what it is used for. They want to give up as little as possible and aren’t going to say well we will throw in X more if you do this with it.
Id be all for holding the ink on that convention center deal until the lawsuit against the Rams/NFL is completed. However, if it goes to court, that will take a decade before its through the appeals process and money transferred. Wonder if the NFL has finally decided to settle and thus money transferred much sooner.
Bob Clark would be privy to these backroom deals and if that money comes through why not use it to improve the city and connect the north to the downtown?
Let’s say the NFL settlement is $1,000,000,000 (it probably won’t be but let’s say it is for the sake of this). 35% goes to the lawyers (that’s the agreement that was signed with Dome authority and lawyers for them to work for free) So that leaves $650,000,000 and that’s split the same way the dome was funded;
State of Missouri 50% $325,000,000
City 25% $ 162,500,000
County 25% $162,500,000
You can count the state out for any money. City has a horrible credit rating, they’ll just use this money to swap out for the bonds they issued for this expansion.
Also Bob Clark isn’t on the same private info. This plan he gave to the Post isn’t new. It’s been around for years and nobody took it seriously. He’s throwing it out there now because the county is dicking around with its $105,000,000 and he’s probably thinking this is the last chance to throw this out there again
Regarding the idea of a settlement with the Rams lawsuit...
IMHO, there's not going to be a settlement with the NFL, KSE, etc. when punitive damages of such an explicit and grandiose nature are in play. This really is the dream case for plaintiffs' counsel, and they have full authority over whether or not the plaintiffs settle. Hell, criminal charges are likely being considered to be filed on certain defendants after the civil case (not STL City, but Federal) as well as a whole hell of a lot of Federal antitrust litigation.
So, if this Bob Clark idea is contingent upon a settlement, especially one where the defendants are putting up contingencies of their own, then F all that.
More likely than not, Bob's just fishing. Now that there's a hold-up in the final convention center allocations because of the NoCo civic project monies not being set yet for that, things may, may be in play. He's hoping to come in with a grander, "monorail"-esque idea, and take over on what's already been agreed upon. FFS, he's selling the Daniel Liebeskind-designed Bottle District to a trucking outfit, and they sure as hell aren't building Bob's multiple 600' buildings, either. I dig Bob, he's a cool dude who can get stuff done. But, unless he's got a whole lot of money - and site commitments - in hand ready to go, I don't buy it. Full of sound and fury, signifying nothing.
Why would any money from the Rams have strings attached?
They aren’t going to say here is 600 million but you have to do X with it. I can’t imagine they care what it is used for. They want to give up as little as possible and aren’t going to say well we will throw in X more if you do this with it.
I guess my thought is why wouldn't have strings attached to any settlement? They are the ones parting with cash.
Think of this way, your a sports league owner and you agree to hand over cash to a region you just left the market for a bigger market. However, the market you left is still a market that a upstart pro league had a good year in. An upstart league needs markets like St. Louis so why not try to hamstring any future uses of the dome for a future competing league. Good way to do it is see the dome go away.
But I hear everyone, Clark gone fishing is probably the reality and if he can get a $1 billion dollar new convention center to happen in a couple years their is a good chance its his company completing for the work & having a legit shot at getting it.. So why not.
Why would any money from the Rams have strings attached?
They aren’t going to say here is 600 million but you have to do X with it. I can’t imagine they care what it is used for. They want to give up as little as possible and aren’t going to say well we will throw in X more if you do this with it.
I guess my thought is why wouldn't have strings attached to any settlement? They are the ones parting with cash.
Think of this way, your a sports league owner and you agree to hand over cash to a region you just left the market for a bigger market. However, the market you left is still a market that a upstart pro league had a good year in. An upstart league needs markets like St. Louis so why not try to hamstring any future uses of the dome for a future competing league. Good way to do it is see the dome go away.
But I hear everyone, Clark gone fishing is probably the reality and if he can get a $1 billion dollar new convention center to happen in a couple years their is a good chance its his company completing for the work & having a legit shot at getting it.. So why not.
How many settlements have strings attached on how you get to spend to the money they pay out?
I can’t see the city accepting any settlement that tells them how they have to use the money, especially if it’s tear down the dome with it. If that’s what it has to be used for then there isn’t any point to settle.
IF (and this is a huge if) there's a settlement and the city winds up with even $100M, outside of what the current convention center plans require, that money needs to go to fixing basic infrastructure, public safety, social services, and education. Another mega silver bullet project is not the best way to spend any possible NFL compensation. Dreaming up grand plans for replacing the Dome with the settlement money just feels like another wasted opportunity to actually fix the city's biggest issues.
Laife Fulk wrote:IF (and this is a huge if) there's a settlement and the city winds up with even $100M, outside of what the current convention center plans require, that money needs to go to fixing basic infrastructure, public safety, social services, and education. Another mega silver bullet project is not the best way to spend any possible NFL compensation. Dreaming up grand plans for replacing the Dome with the settlement money just feels like another wasted opportunity to actually fix the city's biggest issues.
So you don’t think is smarter to invest the money to generate more revenue for future years? Instead of a one time thing?
I think the time is now to consider all options for the convention center & dome. While Bob Clark means well I don’t think he has the financial power to do it on his own however his idea is very plausible. The convention center and dome have really disconnected our street grid I would rather them take their time review all options rather than puzzling more additions on a center that’s still not good enough to compete with other cities our size. The dome will be another building/ facility that the city will soon allow to decay because of the expense. I say the city should put the expansion plans on hold and re-evaluate everything. If they are willing to spend 200 million on another puzzle piece for the convention center why not go all in and build a brand new center that not only competes with cities our size but cities larger and completely restores the street grid. I’m ok with the dome being gone we’ll never get another NFL team again and that I’m fine with. New convention center with a new flagship hotel potential new neighborhood reconnected neighborhoods replaces the street grid and on top of that possibly replace 44 with an at grade boulevard and who knows maybe square could help pitch in to incorporate with their NOW district.
It’s all a thought but at least most of us care & want best for our downtown too thrive
IF (and this is a huge if) there's a settlement and the city winds up with even $100M, outside of what the current convention center plans require, that money needs to go to fixing basic infrastructure, public safety, social services, and education. Another mega silver bullet project is not the best way to spend any possible NFL compensation. Dreaming up grand plans for replacing the Dome with the settlement money just feels like another wasted opportunity to actually fix the city's biggest issues.
I also agree.
Pouring huge sums into new convention center facilities felt like an outdated civic investment strategy before Covid, and even moreso today.
It's obviously important to nurture and support our visitor/tourism/hospitality industry to some extent, but there's a limit to what makes sense given the city's other needs and opportunities.
Laife Fulk wrote:IF (and this is a huge if) there's a settlement and the city winds up with even $100M, outside of what the current convention center plans require, that money needs to go to fixing basic infrastructure, public safety, social services, and education. Another mega silver bullet project is not the best way to spend any possible NFL compensation. Dreaming up grand plans for replacing the Dome with the settlement money just feels like another wasted opportunity to actually fix the city's biggest issues.
So you don’t think is smarter to invest the money to generate more revenue for future years? Instead of a one time thing?
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They're already investing money to generate more revenue for future years. Without needing to syphon off any potential NFL settlement money. Let the current convention center expansion happen, and put whatever NFL cash they eventually receive towards programs that desperately need attention.
In 2012 or so I believe our first proposal to Kroenke included 120 million of cvc money to upgrade the dome. More outside light, new wide East face expansion, hanging video screens, etc. What happened to that money? Could some of it be used to improve the dome? We used to argue the dome would make more money if the Rams left. Were we wrong?
I think the time is now to consider all options for the convention center & dome. While Bob Clark means well I don’t think he has the financial power to do it on his own however his idea is very plausible. The convention center and dome have really disconnected our street grid I would rather them take their time review all options rather than puzzling more additions on a center that’s still not good enough to compete with other cities our size. The dome will be another building/ facility that the city will soon allow to decay because of the expense. I say the city should put the expansion plans on hold and re-evaluate everything. If they are willing to spend 200 million on another puzzle piece for the convention center why not go all in and build a brand new center that not only competes with cities our size but cities larger and completely restores the street grid. I’m ok with the dome being gone we’ll never get another NFL team again and that I’m fine with. New convention center with a new flagship hotel potential new neighborhood reconnected neighborhoods replaces the street grid and on top of that possibly replace 44 with an at grade boulevard and who knows maybe square could help pitch in to incorporate with their NOW district.
It’s all a thought but at least most of us care & want best for our downtown too thrive
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Speaking of options. I still can’t believe a deal wasn’t struck to acquire that awful Holiday Inn that will now be sitting right outside the lovely new entrance. With that lot and adjacent parking lot to the south, the CVC could have added a lot more contiguous space to push them closer toward that 1 million square foot marker. If I’m not mistaken, there’s even an additional lot to the west where they could have built a better holiday inn to replace the old one if that would have been a reason for not selling.
Laife Fulk wrote:IF (and this is a huge if) there's a settlement and the city winds up with even $100M, outside of what the current convention center plans require, that money needs to go to fixing basic infrastructure, public safety, social services, and education. Another mega silver bullet project is not the best way to spend any possible NFL compensation. Dreaming up grand plans for replacing the Dome with the settlement money just feels like another wasted opportunity to actually fix the city's biggest issues.
So you don’t think is smarter to invest the money to generate more revenue for future years? Instead of a one time thing?
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They're already investing money to generate more revenue for future years. Without needing to syphon off any potential NFL settlement money. Let the current convention center expansion happen, and put whatever NFL cash they eventually receive towards programs that desperately need attention.
I agree. I'm kind of tired of excessive public spending on tourism in Downtown. Kind of need to slowly gear it toward a mixed use majority residential neighborhood now that in-office is going to be paring back, I imagine, in the future.
I certainly am on board with already planned expansions. But I am weary of the monolithic nature of the entire complex, and yes, it does and has already ***** up the street grid and connectivity.
I'd much rather prefer a plan from Clark that just gets Bottle District actually up and rolling. It's an eyesore.
Plus in a post COVID world, how big/important will conventions be? Do convention center warrant $600 million, $800 million, $1 billion investments for massive renovations or complete rebuilds?
Does a convention center pay for itself when all revenue to vendors, hotels, car rentals, retail purchases, restaurants, etc. is considered? Or is it like a city park or a fountain or an art museum -- a thing that defines major cities no matter the cost.
ldai_phs wrote:Who is building the new convention center expansion? Bob or someone else?
If the City went with Bob’s plan, I imagine it would be Clayco but at the same time, Bob said he would remove himself from consideration to prevent a conflict of interest so he wouldn’t make money on something like this. So maybe a different contractor outside of Clayco would pick this up but at this point, it’s very unlikely that the City chooses Bob Clark’s plan over the one they already have.
ldai_phs wrote:Who is building the new convention center expansion? Bob or someone else?
If the City went with Bob’s plan, I imagine it would be Clayco but at the same time, Bob said he would remove himself from consideration to prevent a conflict of interest so he wouldn’t make money on something like this. So maybe a different contractor outside of Clayco would pick this up but at this point, it’s very unlikely that the City chooses Bob Clark’s plan over the one they already have.
So a builder isn’t selected for the current expansion?
ldai_phs wrote:Who is building the new convention center expansion? Bob or someone else?
If the City went with Bob’s plan, I imagine it would be Clayco but at the same time, Bob said he would remove himself from consideration to prevent a conflict of interest so he wouldn’t make money on something like this. So maybe a different contractor outside of Clayco would pick this up but at this point, it’s very unlikely that the City chooses Bob Clark’s plan over the one they already have.
So a builder isn’t selected for the current expansion?
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This makes it sound like Kwame Building Group is the contractor, but I guess they could just be one of them.