ST. LOUIS – Today, the Board of Aldermen moved two bills to the informal calendar, ending debate on the Rams Settlement legislation. Mayor Jones issued the following statement in response:
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“When we received the Rams Settlement funds, my initial recommendation was to hold on to the bulk of the funds and live off the interest due to the uncertainty of federal elections and how the economy would react. For months, these funds have been in an investment account gaining significant interest - about $26,101,958 over roughly 24 months.
After almost a year and a half of public input and months of debate and compromise among City leaders, the public, and other stakeholders, it’s clear that there are a number of projects and programs this money could have supported that would result directly in notable quality-of-life improvements for everyone in St. Louis.
Despite my initial inclination to keep this money in accounts where they’ve been gaining interest, I was proud of the compromise legislation that was reached with Alderwomen Boyd and Sonnier, and I’m grateful to the members of my staff who helped broker that compromise.
In the coming weeks, my office will provide guidance on the impact of the new presidential administration and the effects that Project 2025 will have on our community and our budget.
When cooler heads prevail, my hope is that the Board of Aldermen will bring a bill to my desk that directs these historic funds to benefit all of St. Louis in ways that our residents can see and feel. Until then, these funds will continue to grow.”
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