Some members of the St. Louis Board of Aldermen plan to introduce a bill that would counter other board legislation introduced Friday for using the Rams settlement money.
Board of Aldermen President Megan Green said the bill would aim to put the money into an endowment or revolving loan fund that could be used for projects and programs, something she said residents have called for at hearings and in online surveys.
“An endowment is not a rainy-day fund or reserve account," Green said. "It's something that we could draw from every year to pay for projects that residents have asked for."
Four alders introduced a bill Friday that would use about $232.5 million of the Rams settlement in parts of north, southeast and downtown St. Louis. About $107.5 million would go toward infrastructure in downtown and disinvested neighborhoods. The other $85 million would be for housing improvements and $15 million would go to small businesses.
The last city hearing to get input on how to spend the money will be held Monday with a focus on subsidized childcare and education. Green said plans for how the money is allocated shouldn’t be made until after that hearing.
“My office has received many emails and calls from concerned residents who are worried that the decision on how to spend the Rams money is being made behind closed doors and without consideration of their interests,” Green said.
On Thursday, Green shared a letter criticizing Greater St. Louis for pushing the bill forward before the public hearings had ended.
“GSL’s attempt to bypass a public process by lobbying board members to introduce legislation on its behalf is concerning. It demonstrates that GSL sees itself and its interests above the many residents and stakeholder groups who spent months working with us in good faith to develop their ideas,” Green’s letter read in part.
Green said in the letter that while downtown needs significant investment, it would take more than what’s being proposed.
In a statement, a spokesperson for Greater St. Louis criticized Green’s comments, defending the four alders who proposed the legislation.
“We participated in the public engagement process, and the proposal we put forth was chosen by the public as one of its top five selections,” the letter read in part. “When it became clear that President Green did not want the board to hear a full presentation on our proposal as part of that public process, we wrote a letter to ensure that happened. As a result, the board heard our proposal. Now, four members of the board have introduced a bill based on what was proposed.”
Unlike federal coronavirus relief funds, there isn’t a time limit on when to use the Rams settlement money. Some city leaders have argued the city should prioritize how it will use the relief funds first. That money needs to be committed by the end of the year.
“Even if we're going into December for that final bill that is encumbering those remaining funds, those funds still have two years to actually be spent,” Green said.
