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.
The project proposes a huge campus of multiple playing fields capable of hosting simultaneous baseball, basketball, volleyball, softball and football games. Plans for the area where the St. Louis Outlet Mall now stands also include a hotel, restaurants and other amenities.
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