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STL City and Business Leaders Ask for Millions from Public for Scottrade Renovations

The City of St. Louis City is asking for millions of dollars from the public when it comes to renovations at Scottrade Center.

But on Tuesday, some city and business leaders said it's not what some people may think.

During a press conference at the hockey arena, those who are proposing this project said that the city is in jeopardy of losing major events such as the NCAA AND SEC, who have said that they won't come back if necessary investments are not made to fix the center.

Owners said that the center, now nearly 25-years-old is aging and lacking numerous features that are essential to St. Louis competing for regional, national and world-class events against other facilities in the Midwest.

According to an overview, the Blues will pay $90 million for the project while city will pay $4 million a year for the next 30 years.

The $4 million would come from taxes that the building itself will generate which totals more than $14 million a year in tax revenue.

As the owners continue to invest their own money, they would also impose a 1 percent tax on their own ticket and other sales.

Blues chairman and CEO Tom Stillman said that Scottrade is a city-owned facility that is primarily built with dollars coming from the Blues when it was built back in the 90s. Adding that the team has paid for most of the maintenance, about $237 million and now it cannot continue to carry that financial burden without the help of city dollars.

"If we don't modernize it, the arena will become a declining city asset, it will no longer attract these city events it will generate less and less for our economy and for our way of life," Stillman said.

The proposed project will go before the City Board of Aldermen and does not require a public vote.

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