The resolution outlined the parameters for the project’s bond financing — which has been a source of conflict between the board members, particularly Krewson and Green. In a statement, Green thanked Krewson and Reed for their support of the resolution, which she presented to the board on October 31.
“Expansion of the convention center is an economic investment in our region, assuring the health of jobs for working families and businesses alike,” she said.
By law, the resolution was not necessary to move the bond financing forward, said Steve Conway, Krewson’s chief of staff.
“But it established the framework which is in the financing agreement,” Conway said. “As to the mayor and the comptroller, they just want to have certainty on moving forward and if [the resolution] gives everyone adequate certainty, they are all very happy.”
The next step is to schedule a meeting with the St. Louis Municipal Finance Corporation “to affirm the details of the issuance,” Green said. The finance corporation does not have regular meetings, but a meeting should be scheduled quickly, according to Green’s spokesman.