St. Louis aldermen committee OKs Kiel Opera House plan – St. Louis Business Journal:

A St. Louis aldermanic committee on Wednesday approved a $74 million plan to reopen
despite criticism from competitors.
The plan now goes before the full board of aldermen.
The Urban Development and Zoning Committee had because members said they wanted more time to examine the proposal, and Richard Baker, president of
, which operates the
, said the plan would steal shows away from the Fox and
, the New York City-based firm that owns the
and holds the long-term lease to the Kiel,
To alleviate concerns among competitors, SCP Worldwide agreed to limit the number of third-party theatrical shows it holds for the first five years, said Ken Munoz, a partner in SCP Worldwide. "We think this is a vote for St. Louis," he said.
SCP Worldwide has brought in McEagle Properties, of O’Fallon, Mo., as a redevelopment partner and
as general contractor.
David Checketts, chairman of SCP Worldwide, thanked the committee, Mayor Francis Slay and Comptroller Darlene Green "for putting their trust in our plan and sharing our belief that the Kiel Opera House can and should be restored to the glory of its past."
"We all want the same thing for St. Louis: a vibrant downtown, a thriving cultural and entertainment scene, additional jobs and a promising economic future for this and future generations," Checketts said in a statement. "Today’s committee vote approving our Kiel Opera House plan is the first step in making all of this a reality."
Last month, the city’s Land Clearance for Redevelopment Authority
to the board of aldermen that the Kiel be re-declared blighted, paving the way for tax abatement for SCP Worldwide to support a restoration of the building into a theatrical and concert venue.

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