Cara Spencer steps down from SLDC, citing 'barriers to transparency'

ST. LOUIS - Alderwoman Cara Spencer (Ward 8) officially announced her resignation Monday from her position on the board of the St. Louis Development Corporation.

Spencer's letter to the board secretary points to her concerns about oversight of SLDC, noting that "recent events, however, have destroyed my confidence in SLDC as well as community trust that this organization is properly managed or is serving the best interests of the city."

The letter continues to state two reasons behind the unfeasibility to have any oversight, which include Mayor Tishaura Jones' ability to appoint one person to president, CEO, and chair of the board, along with the city counselor acting as the board's legal representation.

Spencer noted that both of these reasons create room for conflict of interest and the withholding of certain information from the board.

"These are barriers to transparency and achieving the purposes for which SLDC was formed. Notwithstanding my resignation, I sincerely hope that the mayor reviews the city's arrangements with SLDC to ensure transparency, proper oversight, and meaningful advancement of the purposes for which SLDC was formed," Spencer said in the letter.

Her resignation comes at a time when St. Louis Development Corporation has come under fire for its use of money from the American Rescue Plan, known as ARPA funds. Several city leaders, including Spencer, have publicized their criticism regarding the funds.

“The faith in the program, at least on my end, is completely gone,” Spencer told FOX 2 last week. “We’re two and a half years in. These funds were set-aside specifically to help businesses get through the pandemic. And here we are; the program is still knee-deep in problems and knee-deep in lack of oversight."

Beyond SLDC and serving as an alderwoman, Spencer is running for mayor in the City of St. Louis next year.