Show-Me State Times

Greater St. Louis, Inc., alongside Mayor Tishaura O. Jones and St. Louis Alderpeople Alisha Sonnier and Pam Boyd, announced a significant agreement to allocate Rams settlement funds for the development of disinvested neighborhoods and Downtown St. Louis. This initiative aims to address key areas requiring investment in the city.

Dustin Allison, Interim CEO of Greater St. Louis, Inc., emphasized the importance of growth for the city: “Let me be direct: job one, two, and three has to be getting St. Louis growing again.” He highlighted the necessity of addressing depopulation in North St. Louis and revitalizing Downtown as essential steps towards this goal.

The agreement integrates components from Board Bill 131 by Alderwoman Pamela Boyd and Board Bill 153 by Alderwoman Alisha Sonnier, focusing on transformative investments across various sectors:

- $130 million will target disinvested neighborhoods in North and Southeast St. Louis.

- $74 million is allocated for Downtown projects.

- $40 million will go towards citywide water infrastructure.

- An additional $50 million is committed to City workforce investments.

The total funding of $294 million comes from both current principal on Rams settlement funds and expected future interest earnings.

Specifically, funding for disinvested neighborhoods includes:

- $40 million dedicated to North St. Louis

- $35 million for citywide housing with a preference for N/SE St. Louis

- $40 million for transportation/mobility projects with a similar geographic focus

- $15 million aimed at business development initiatives

City workforce investments will cover:

- $30 million for childcare

- $10 million for STL Promise Higher Education Affordability

- $10 million for professional development of City workers

Downtown project allocations include mandatory spending of $30 million on infrastructure improvements and an additional $11 million designated for acquiring the Railway Exchange building and demolishing its adjacent parking structure.

A unique aspect of this plan is the requirement that private sector investors match the remaining Downtown investment dollar-for-dollar, totaling up to an additional potential contribution of $63 million from Greater St. Louis investors.

Allison expressed gratitude towards Mayor Jones, Alderpeople Boyd and Sonnier, as well as other supporting alderpeople such as Tom Oldenburg, Laura Keys, and Cara Spencer: “You have provided us with a roadmap for how we move St. Louis forward by focusing on collaboration, public-private partnership, and solutions centered on getting St. Louis growing again.”

The initiative underscores a commitment to collaboration between public entities and private investors to rejuvenate critical areas within the city.