With expectation of helping transform St. Louis’ infrastructure and its image, Mayor Tishaura O. Jones, President of the Board of Aldermen Megan Green, and Alderwoman Alisha Sonnier introduced the Transform STL Act on Wednesday at City Hall.
The bill, if approved by the Board of Aldermen, would target the Rams Settlement Funds into several categories including infrastructure, development, and families and children.
“From Delmar to Dutchtown to Downtown, every neighborhood deserves to benefit from these settlement funds,” said Mayor Tishaura O. Jones.
“This is a once-in-a-generation opportunity that will be used to transform the lives of many generations to come.”
While the bill preferred by Jones and Green has been introduced, some alderpersons favor a plan backed by Greater St. Louis Inc.
The Transform Act would direct money from the Rams Settlement into the following funds:
Infrastructure ($100 million) – Citywide Water Infrastructure Fund – $40 million; Citywide Mobility Infrastructure Fund – $60 million.
Development ($100 million) -Citywide Housing Fund – $70 million; Citywide Neighborhood Development Fund – $30 million.
People ($77.2 million) – Citywide Workforce Fund – $20 million.
There will also be a new endowment fund containing two accounts, held and invested by the city Treasurer’s Office.
Account 1: Affordable Child Care – $37.2 million; Account 2: Affordable Postsecondary Opportunities – $20 million.
“This structure gives City departments the dedicated capital needed to secure matching grants and low-interest loan programs,” said Green.
“As departments make spending decisions, these funds will continue to grow in interest-bearing accounts—maximizing the settlement’s reach and amplifying its impact.”
Sonnier of the 7th Ward work has focused over the past 16 months on building community consensus “around how we can strategically and perpetually address some of the issues that impact city residents every day, including how we can attract and retain our city’s workers.”
“We know that our residents want to see our streets and water systems maintained, our children and families supported, and our neighborhoods and small businesses thrive. This legislation helps to ensure that each corner of the city is reached and that all, not some, have an opportunity to be part of St. Louis’ transformation.”
According to the Mayor’s office, each fund will have an associated board, with “most” containing citizen members. All will hold public board meetings.
To avoid overdrawing funds, each fund’s designated board must recommend appropriations from the Board of Estimate and Apportionment.
While the bill preferred by Jones and Green has been introduced, some alderpersons favor a plan backed by Greater St. Louis Inc.
GSL Interim CEO Dustin Allison said on behalf of the organization, “We have made very clear our support for using a portion of the Rams settlement fund to make long overdue and critically needed investments in disinvested neighborhoods in North and Southeast St. Louis and Downtown.”
“We will review the bill that was filed through the lens of ensuring that those two priorities are met so that these funds are focused on catalyzing the long-term, sustainable, and equitable growth St. Louis and its residents need.”
GSL supports a bill co-sponsored by Alderpersons Laura Keys (11th Ward), Tom Oldenburg (2nd Ward), and Cara Spencer (8th Ward).
According to GSL, it calls for investment of approximately $130 million of funds from the Rams settlement into disinvested neighborhoods that meet the criteria outlined in the Economic Justice Action Plan developed by Mayor Jones and $100 million into Downtown infrastructure.
- The bill would invest the $232.5 million in four areas:
- $107.5 million for infrastructure projects – $55 to disinvested neighborhoods and $52.5 to Downtown
- $85 million for the rehabilitation of high-impact areas and buildings – $35 million in North City, $20 million in Southeast St. Louis, and $30 million Downtown
- $25 million for housing improvement – $10 million Downtown and $15 in disinvested neighborhoods
- $15 million to support small businesses and commercial corridors – $10 million of which would go to Downtown and $5 million to disinvested neighborhoods