New deal removes last legal hurdle to Scottrade Center upgrades
St. Louis Comptroller Darlene Green has dropped her legal challenge to a ruling by a judge who ordered her to approve funding for improvements to the Scottrade Center.
A deal approved earlier this week removes the city’s last remaining hurdle by issuing $ 100 million in bonds to cover renovations, including new plumbing for the ice rink and updates to lighting and sound systems. .
The aldermen narrowly approved the financing agreement last February. But Green refused to sign the required documents, fearing the deal could hurt the city’s credit rating. A judge ordered him to do so after Kiel Center Partners filed a lawsuit – a ruling Green appealed.
Under the settlement, Green dropped his appeal and the case was dismissed. In return, Green was given language that made it clear that she can seek other sources of money to repay the bonds.
“I am happy that all parties were able to come together and grateful for the hard work of my staff and others who made this deal possible,” Green said in a statement. “I hope this will lessen the impact on the city’s general fund and credit rating. “
Chris Zimmerman, president and CEO of the St. Louis Blues, also praised the deal.
“We are pleased to have resolved all the issues necessary to enable us to complete the funding and construction of our Phase I improvement at Scottrade,” he said. “We are confident that these improvements will benefit all events in Scottrade, the City of St. Louis and our region.”
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