St. Louis officials reach agreement to reinforce city’s reserve funds

An agreement between the city of St. Louis’ treasurer and one city alderman has been reached to reinforce the city’s reserve funds.

Alderman Jeffrey Boyd and Treasurer Tishaura Jones reached an agreement Thursday to move money from the city’s parking fund to hire more neighborhood police officers, buy two new tow trucks and bolster the city’s reserve funds.

Board Bill 69 CS authorizes a transfer of $250,000 to purchase two new tow trucks, $800,000 to restore  Neighborhood Safety Officers and a transfer of $10 million to the City’s reserve fund. It will also raise the city’s credit rating which has taken numerous hits over the years.

“​Today, the residents of the City of St. Louis won,” St. Louis Board of Aldermen President Lewis Reed said in a statement. “The 22nd ward Alderman Jeffrey Boyd and the members of Streets, Traffic and Refuse Committee should be commended for their hard work and willingness to stay on course and fight for the welfare of all taxpayers.”

In the last year alone, taxpayers and residents have been hit with increases in sales tax and a lack of funding for recreation centers, Reed said. The city also has seen additional fees for trash pickup and more.

“Board Bill 69CS begins the process of putting those funds to work for the people of St. Louis. Given the current crime rate in our city, it couldn’t be soon enough,” Reed said.

The streets committee unanimously approved the amended parking budget worked up by Jones and Boyd. The Board of Aldermen must still approve and send the bill to Mayor Lyda Krewson by July 1.

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