Newspaper article St Louis Post-Dispatch (MO)

Scottrade Renovation Cost Put at $160 Million

Newspaper article St Louis Post-Dispatch (MO)

Scottrade Renovation Cost Put at $160 Million

Article excerpt

Planned improvements: Bigger scoreboard; enclosed beer garden; revamped seating areas, locker rooms and concourses; larger team store; new ice plant.

Estimated cost: $160 million, financed through industrial revenue bonds issued by Land Clearance for Redevelopment Authority.

Next step: No bonds issued before a renovation financing agreement is reached. Officials hope to reach such an agreement this year.

Remodeled concourses, a bigger scoreboard and an enclosed beer garden are part of a $160 million renovation plan for Scottrade Center in downtown St. Louis.

Plans are preliminary but include revamped seating areas and a larger team store for the St. Louis Blues, who operate and manage the city-owned arena.

Scottrade Center, formerly known as the Kiel Center, opened in 1994 with the Blues as its main tenant after a $170 million remodeling project. That project had received $62.4 million in tax- exempt financing.

No more Blues games will be played at Scottrade this spring. The San Jose Sharks eliminated the Blues from the Stanley Cup playoffs with a 5-2 victory Wednesday night in San Jose.

Officials of the Blues and the St. Louis Convention & Visitors Commission have discussed with city and St. Louis County leaders renovations of Scottrade Center and America's Center.

Renovation of Scottrade took a step forward Tuesday when the city's Land Clearance for Redevelopment Authority approved a resolution stating its intent to issue $160 million in industrial revenue bonds to finance the project.

No bonds would be issued before a renovation financing agreement is reached, which officials hope will happen this year. The LCRA resolution could allow the Blues to make some Scottrade improvements this summer and receive reimbursement for their costs later when a final renovation agreement is reached, a source said Thursday.

Phil Siddle, the Blues' chief financial officer, told the Post- Dispatch on Thursday the team plans to spend about $10 million this summer to redo the outdated control room for the current scoreboard and replace the original water condenser loop system, cooling towers, pumps and piping for the hockey rink's ice plant. …

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