Even with public subsidies covering almost 30 percent of the cost of Ballpark Village’s $220 million second phase, the city and school district should still see a net benefit, city officials said Wednesday.
But the incentives sought by the St. Louis Cardinals and their development partner, Cordish Cos., were high enough that the proposal didn’t win a glowing review from number crunchers in the city’s economic development office.
That arm of the city, the St. Louis Development Corporation, did endorse the latest Ballpark Village proposal. Yet based on its analysis of public help and new taxes generated, SLDC financial analyst Jonathan Ferry told an aldermanic committee Wednesday that the project was “right at the cusp” of what the city considers an adequate score: 24 out of 40 possible points.