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Bill sponsor Alderman Christine Ingrassia said the proposal would now allocate about $60 million in new tax revenue to the $200 million project. The previous proposal called for an $80 million city contribution.

Mayor Francis Slay’s spokeswoman Maggie Crane said the $60 million figure was “very possible� at this stage of negotiations.

The bill must pass the full Board of Aldermen by Tuesday to make the April 4 ballot. A late afternoon meeting between aldermen, city officials and representatives of team investors lasted an hour and a half, but no one would comment when approached by the media afterward.

Dave Peacock, a member of the SC STL executive committee, was in the meeting but left through a back exit. He later replied to questions with a one-sentence email: “We’re looking forward to the hearing tomorrow.�

Ingrassia said she requested the hearing with the caveat that team ownership investors SC STL provide certain financial information, and that other elected city officials express their satisfaction with the plan, before the 9 a.m. hearing.

“Unfortunately, even though I’m dubious, aldermen have no resources at their disposal to assist us with financial analysis, so I will rely on the offices in place to help guide my decision. If we cannot get there by Thursday morning, there is not a path forward,� Ingrassia said in an email to city officials and SC STL representatives early Wednesday.

A new financial agreement between the city and investors is yet to be made public. It was unclear Wednesday if the agreement was finalized or still a work in progress.

Ingrassia and Alderman Stephen Conway, chairman of the Ways and Means Committee where the bill will be heard, said last week that a different proposal could be reintroduced for an August ballot vote. But Ingrassia said she and others were now convinced an August vote would be too late in the MLS expansion process.

‘I also do believe, based on conversations with the ownership group, and what I’ve researched on my own regarding the MLS timeline, that we will not have an opportunity for one of the 4 expansion teams if we wait to put this on the August ballot,� Ingrassia wrote.

City officials also want certainty on before proceeding. New Gov. Eric Greitens has repeatedly ruled out public funding but said his office would help in terms of attracting more private investment.

Investors were expecting $40 million in state tax credits before pulling the proposal after Greitens called it “welfare for millionaires.� A Greitens spokesman had no comment Wednesday.

As for where the investors would make up the $20 million dropped from the city proposal, Crane said, “That’s a question for the ownership group.�

SC STL spokesman Jim Woodcock released a short statement thanking Ingrassia for moving the bill forward. Woodcock said other details, such as how the city’s reduced contribution and the current absence of state funds affect the stadium plan, were not yet available.

The Ways and Means Committee meeting will be in the Kennedy Room on the second floor of City Hall at 9 a.m.