Grand Center Could Get TIF Money
St. Louis, MO – City officials are working on a plan to reinvest in St. Louis' main arts and entertainment district. If approved by the St. Louis Board of Aldermen, an $80-million tax increment financing plan would be used to redevelop several properties in the Grand Center area, including art museums, educational facilities and residential units. Grand Center executive director and former mayor Vince Schoemehl says his group hopes to build an economic engine for the city of St. Louis.
Schoemehl says the vision for the district began to form about 15 years ago, but that TIF monies were not used in Missouri at that time.