St. Louis City Officials to Seek Public Feedback on Rams Relocation Settlement Funds

The St. Louis Board of Aldermen has officially passed and adopted Resolution 171 over the settlement funds.

[{"selector":"#anim-02e4e1b6-3807-430b-8f58-4757aa9590c9","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] The resolution gives city officials the green light to hold public input sessions with the St. Louis community and collect feedback on how to use the money.

[{"selector":"#anim-12f290a7-6f94-4f74-853f-8f774003ae4d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] The resolution suggests discussion over ways the settlement funds can be used to reverse historic wrongs and invest in disinvested neighborhoods.

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The Board of Aldermen will meet with several city agencies to determine a plan of action. It will be a collaborative process between the Board of Aldermen, the mayor’s office, the comptroller, and most importantly, the citizens of St. Louis.

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Currently, St. Louis has around $280 million saved into an interest-bearing account with the Missouri Securities Investment Program.

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[{"selector":"#anim-dc9e9d6d-ee93-4e14-af50-ff8c58d80a03 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.24310650383096%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-bfdb966c-ee67-4bf9-a2a4-ed2b8c407869","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] The Rams relocation settlement, which yielded $790 million in December 2021, led to St. Louis City splitting a sum of those funds with St. Louis County and the St. Louis Regional Convention and Sports Authority.

The city must spend at least $30 million of its sum by June 30, 2023 or risk losing that sum to the RSA.

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