- Introduced -

SB 1164 - This act creates the "The Sports Center Redevelopment Authority Act".

St. Louis may establish a "Sports Center Redevelopment Authority". The Authority will consist of a nine-member board of commissioners, with two members appointed by the Mayor with the consent of its governing body, two members appointed by the County Executive with the consent of its governing body and five members appointed by the Governor with the advice and consent of the Senate. Members will have staggered terms of four years. One of the members appointed by the governor will be the chairperson.

The Authority may employ an executive director and legal counsel. The act sets forth procedural, conflict of interest provisions, and powers of the authority.

The Authority is granted the power of eminent domain.

Certain information must be included in a sports center redevelopment plan, including a legal description of the sports center redevelopment area, estimated project costs, general land uses and information regarding anticipated financing.

Public hearings are required prior to the adoption of a sports center redevelopment plan and sets forth notice and procedural requirements. When sports center redevelopment plan is adopted by the city and the authority, for a period not to exceed thirty-five years, economic activity taxes generated within the sports center redevelopment area shall be deposited into the special allocation fund of the city for the purposes enumerated, including paying project costs and obligations.

Subject to annual appropriation, debt service, over not more than thirty years for a debt financing in support of a sports center redevelopment plan, including project costs, is specified.

The act specifies that the Authority owns the naming rights to the publicly-owned stadium and shall negotiate a full fair market value price for the sale or lease of such rights. Naming rights revenues are to be expended for Authority operating costs, with reimbursement to the state if state sales tax revenues produced by the project do not meet or exceed the state's annual appropriations, early retirement of bonds issued by the Authority, or capital improvements to the stadium. The Cardinals may reasonably reject any name proposed for the stadium.

The maximum state appropriation shall not exceed $7 million per year for a maximum of 30 years.

Income and property of the authority shall be tax exempt; bonds and other obligations of the authority are exempt from income taxation by the state.

The act contains "Taxpayer Protection Provisions". The Cardinals must enter into at least a 35-year lease which also provides:

(a) The team must play all home games at the stadium, and shall not relocate outside the city;

(b) The team shall make available at least 6,000 tickets per regular season home game at no more than $12 per ticket, in year 2000 dollars;

(c) The team shall donate at least 100,000 tickets per year to youth and charitable organizations;

(d) The team shall contribute at least $100,000 per year for the development, construction or refurbishment of neighborhood recreational facilities that will benefit disadvantaged youth in the city and the county;

(e) The team shall pay all operating and maintenance expenses of the stadium and shall pay costs of capital improvements to the stadium in accordance with the terms of the lease;

(f) If the team is sold, the team or its owners shall pay a portion of the sale price and the amount shall be determined solely by the authority; and

(g) The team shall make payments in lieu of taxes in each year if the amount of property taxes paid annually on the stadium property does not exceed the ad valorem property taxes paid prior to development of the stadium.

Certain requirements of the Cardinals in building the stadium are specified including cost overruns.

The team shall provide to the state, the Authority, the city and the county satisfactory assurances as to the commencement, acquisition, construction or equipping of the other facilities to be included in the sports center redevelopment area, which shall include penalties for the failure to comply with such assurances.

The team and any developer shall comply with all federal, state and local laws and executive orders regarding contracting, hiring and employment and shall set a goal of 25% minority-owned business participation and 5% women-owned business participation.

CINDY KADLEC