Newspaper article St Louis Post-Dispatch (MO)

State Considers Bids for Land in County Gambling Boat Investor Offers $1.6 Million

Newspaper article St Louis Post-Dispatch (MO)

State Considers Bids for Land in County Gambling Boat Investor Offers $1.6 Million

Article excerpt

The Missouri Conservation Department said Friday it will negotiate to sell 122.8 undeveloped acres in St. Louis County to a prospective gambling boat investor.

The acreage is in Earth City north of the Blanchette Memorial Bridge and across the Missouri River from St. Charles. The land faces the mooring sites of Riverfront Station Casinos.

It is not protected by the Earth City Levee and is subject to flooding. Covenants on the land require that it remain undeveloped. But it can be used as a mooring site.

Shannon Cave, spokesman for the Conservation Commission, said Missouri River Equities Inc. submitted the high bid for the land. But the commission was dissatisfied with some provisions of the purchase proposal, and it directed its staff to negotiate. "The commission wants to make sure that what we are receiving is fair compensation to the taxpayers," Cave said. The commission is expected to take up the sale again at its meeting April 12.

The commission received five bids for the parcel, ranging from a low of $8,000 to Missouri River's maximum, $1. …

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