St. Louis aldermen approve measure to borrow money for Scottrade Center renovations

It appears Scottrade Center renovations will happen after the St. Louis Board of Aldermen voted Friday to borrow $64 million during a seven hour meeting, according to the St. Louis Post-Dispatch.

The majroity of aldermen said the renovations will help generate more tax revenue; 8th Ward Alderman Stephen Conway said parking and events at the arena generate a combined $10 million in taxes.

“We have the value of hindsight in this because we know how much it generates.”

Supporters also said the city hasn’t put any money into the city-owned Scottrade Center since it opened since 1994; it’s generated a combined $100 million in tax revenue since.

But some aldermen were not convinced.

20th Ward Alderman Cara Spencer was disappointed that sports stadiums were receiving attention while the city has a $20 million budget shortfall looming.

“We are telling our city what we prioritize: subsidizing professional sports,” she said.

This story was originally published February 10, 2017 at 6:59 PM with the headline "St. Louis aldermen approve measure to borrow money for Scottrade Center renovations."