A St. Louis aldermanic committee approved a proposal by the Treasurer’s Office to issue $5 million worth of bonds to purchase a Midtown parking lot—but only after scrutiny from a committee member.
Treasurer Adam Layne said the city would be paying about $3.4 million for the parking lot, a cost he said was in line with an assessment commissioned by his office. Most recently home to a BP gas station, the lot sits across the street from a parking garage and a short walk from Chaifetz Arena and a host of businesses along Locust Street.
“This feels like we’re overpaying for a parking lot,” said Alderman Michael Browning, who was the most skeptical committee member. He thought the location lent itself better to something mixed use…