ST. LOUIS (AP) — A St. Louis commission has approved $6 million in tax money to convert a struggling outlet mall in Hazelwood into a massive youth sports complex.
The St. Louis Convention and Visitors Commission on Thursday approved a request that uses hotel tax revenue for the proposed POWERplex project, the St. Louis Post-Dispatch reported. Commission attorneys said the money would only be paid out if all other financing is secured for the $54 million project.
Last month, the Missouri Development Finance Board also approved a $6 million contribution to the project. The city of Hazelwood is contributing millions to the financing, and the developers are contributing $3.3 million in equity and $18.4 million in private loans for the project, the Post-Dispatch reported.
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