St. Louis developer Paul McKee’s NorthSide redevelopment plan took center stage today at the Missouri Supreme Court.
He’s been seeking nearly $400 million in Tax Increment Financing (TIF) from the city – but the project has been on hold since Circuit Judge Robert Dierker ruled two years ago that its details are too vague to justify awarding TIF dollars and for declaring two square miles of north St. Louis as blighted. Cheryl Nelson is one of the plaintiffs. She says McKee’s project has wrecked the property value of her home.
The fate of a massive redevelopment in north St. Louis city will rest with the Missouri Supreme Court.
In an order issued today, the Missouri Court of Appeals for the Eastern District wrote that it agrees with a district court ruling throwing out developer Paul McKee's $8 billion plan for the 1,500-acre site, but "because of the general interest and importance of the questions involved, we order this cause transferred to the Missouri Supreme Court ..."