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Statement from Greater St. Louis, Inc. Interim CEO Dustin Allison
Re: Board Bill introduced today by Alderwoman Alisha Sonnier
“We have made very clear our support for using a portion of the Rams settlement fund to make long overdue and critically needed investments in disinvested neighborhoods in North and Southeast St. Louis and Downtown.
“We will review the bill that was filed through the lens of ensuring that those two priorities are met so that these funds are focused on catalyzing the long-term, sustainable, and equitable growth St. Louis and its residents need.”
Background:
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Greater St. Louis, Inc. has called for the swift passage of Board Bill 131, filed November 12 by Alderwoman Pam Boyd and co-sponsored by Alderpeople Laura Keys (11th Ward), Tom Oldenburg (2nd Ward), and Cara Spencer (8th Ward).
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Board Bill 131 will invest approximately $130 million of funds from the Rams settlement into disinvested neighborhoods in North and Southeast St. Louis (neighborhoods that meet the criteria outlined in the Economic Justice Action Plan developed by St. Louis Mayor Tishaura Jones) and $100 million into Downtown infrastructure.
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The bill would invest the $232.5 million in four areas:
- $107.5 million for infrastructure projects – $55 to disinvested neighborhoods and $52.5 to Downtown
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$85 million for the rehabilitation of high-impact areas and buildings – $35 million in North City, $20 million in Southeast St. Louis, and $30 million Downtown
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$25 million for housing improvement – $10 million Downtown and $15 in disinvested neighborhoods
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$15 million to support small businesses and commercial corridors – $10 million of which would go to Downtown and $5 million to disinvested neighborhoods
Media Contact: Tony Wyche | 314-398-9991 | Tony@GreaterSTLInc.com