最新杏吧原创

HAZELWOOD 鈥� Hazelwood officials and developers hoping to turn a dying mall into a mega sports complex are urging 最新杏吧原创 County to keep holding aside $6 million for the project as they try to settle $38 million debt owed to the mall鈥檚 taxing district.

The debt is the latest roadblock to a longstanding plan to convert the mostly defunct 最新杏吧原创 Outlet Mall into a $54 million youth sports campus, known as POWERplex, that would include a concert venue, stores, a hotel and restaurants.

The 最新杏吧原创 County Council is expected to take a final vote next week to continue to set aside, for a third year, $6 million in hotel tax revenues to pay for ballfields at the complex, which has been in the works since 2016. The county, Hazelwood and the Missouri Development Finance Board all committed funding for the project in 2018, but only after all other private financing was secured.

After delays last year attributed to the pandemic, Dan Buck, head of Big Sports Properties, told the council Monday afternoon that he has promises from private funders and that the project, once underway, could largely be completed in less than a year.

But they still face a roadblock in an ongoing dispute with a special taxing district owed roughly $38 million in outstanding debt on bonds issued in the early 2000s for the mall鈥檚 construction 20 years ago.

A previous settlement offer was rejected by bondholders, said Ernesto Segura, an attorney with Husch Blackwell representing Big Sports. Segura said the developers are still negotiating with the district for an amount currently set at about $13.8 million.

Hazelwood City Manager Matt Zimmerman said the city is trying to arrange for funding to pay the settlement, but the effort would fall apart without the county鈥檚 continued commitment, Zimmerman claimed.

鈥淲e鈥檙e struggling to come up with the settlement money,鈥� he said.

The bonds were supposed to be paid back through sales taxes generated by the mall, which opened as 最新杏吧原创 Mills in 2003. With the mall under different ownership and nearly empty by 2016, the district has had to rely on increasing property assessments to generate funds that still come short of the debt payments.

Lloyd Ney, who owns Ice Zone, an indoor rink that is one of nine remaining businesses at the mall, said the few property owners left are being forced to pay more in taxes to try to make up a bigger share of the district鈥檚 debt, threatening their financial viability.

The stores, Buck added, 鈥渁re all on the brink of getting foreclosed on,鈥� leaving the city and county with more 鈥渂lighted, boarded-up buildings.鈥�

鈥淭hey鈥檙e in some legal disputes right now trying to salvage their properties, but they know that all that gets cleaned up and it all goes away if we can make the POWERplex happen,鈥� Buck said

Zimmerman said the city believes POWERplex is the best option for the mall site because it would require renovation rather than demolition and entirely new construction.

And the county鈥檚 investment would pay off in a few years in increased hotel and sales tax revenues, filling 鈥渢housands鈥� of hotel rooms and drawing hundreds of thousands of visitors for regional events, Buck said.

鈥淚 would encourage you to look at the long-term picture,鈥� he said.

Councilman Mark Harder, R-6th District, said the ballfields were a centerpiece of the complex, which he said would be 鈥渙ne of the bigger tourist attractions in the region.鈥�

But other council members said they were wary.

Councilman Ernie Trakas, a south 最新杏吧原创 County Republican who was the lone council member to oppose the POWERplex commitment last year, had called for the hearing last week to question the project鈥檚 finances.

He said he didn鈥檛 think Ney, Zimmerman or Buck were 鈥渙bjective鈥� about the project, which he said was now in its 鈥渇ifth year鈥� without a guarantee it could be finished.

Councilwoman Shalonda Webb, D-4th District, said she had supported the project last year when she thought it would be viable.

But facing another roadblock, she questioned whether the county鈥檚 $6 million contribution could be better put toward other tourism-related projects in north 最新杏吧原创 County. The funds, by law, are required to be put toward tourism-related expenses only.

The county鈥檚 share of funding would pay for ballfields that would be owned by the city of Hazelwood but leased to Big Sports Properties. The fields would be available for public use when not booked for POWERplex events, Zimmerman said. He vowed the city would ensure that all construction plans and costs were set in stone before it released any of the city or county鈥檚 funding.

鈥淚 hope that you have faith and trust in another fellow government that we鈥檙e going to do it right, that your money is not going to be at risk,鈥� he said. 鈥淲e just need a little more time.鈥�

Harder on Tuesday delayed a final council vote on the bill because 2nd District Democrat Kelli Dunaway, whose district POWERplex is located in, and Trakas were absent from the meeting. Dunaway supported the project last year.

Updated at 7:45 p.m. Tuesday, Feb. 8.