The St. Louis Board of Aldermen has approved a $7 million package of tax incentives for renovations to the new downtown headquarters of Laclede Gas.
The measure easily cleared the board today by a vote of 23-2. The incentives will help the developer replace windows and heating and cooling systems, and make other upgrades to the General American Building at 706 Market.
One of the two opponents, Alderwoman Sharon Tyus, D-1st Ward, called it improper to provide incentives to move a company less than three blocks
"I started researching what they do in other states," she said. "I know they do TIFs for a lot of things in East St. Louis. They’ve done Walgreens and everything else. But it’s a very different animal that they use and it’s much more friendly to their school system."
The new space will allow Laclede to consolidate employees downtown. Some will be moving from properties set to be demolished for the new IKEA store in the Cortex development.
Here is the roll call:
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