The St. Louis Board of Aldermen has approved two tax breaks for the St. Louis Cardinals. By a vote of 24 to 2, the Board has given the green light to a measure to eliminate a 5 percent amusement tax on the baseball team and another to exempt the team’s proposed new ballpark from property taxes. Doing away with the 5 percent tax would save the Redbirds $3.4-Million annually. The team would be expected to use that money to pay the lease on a new stadium, which would be owned by private investors. The property tax measure would exempt the ballpark from property taxes for 25 years. In exchange, the Cardinals would make a $490,000 annual payment to the city to pay for lost tax revenue. That money would go to schools and city services. Mayor Francis Slay says it’s now up to the Cardinals to work out a deal with private investors to come up with additional funding for the stadium.
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