ST. LOUIS • Gov. Jay Nixon’s stadium task force has cut a deal to fill the final financing hole in its proposed $1 billion downtown football facility.
And it leans, again, on the state and its AAA credit rating.
The new plan, its details still being hammered out by task force attorneys, would give stadium naming-rights cash to the National Football League. In exchange, the state’s stadium authority would keep certain anticipated tax revenue, such as those on tickets, parking and hot dogs.
The stadium authority would use those projected tax dollars to pay off bonds backed by the state’s credit rating, said David Peacock, co-chairman of the task force.