Gov. Jay Nixon says he is not including the expansion of a tax credit for assembling and maintaining large swaths of land in his planned call for a special legislative session.
Nixon and lawmakers have been working on an agreement for an economic development package. One part of the lawmakers' proposal would remove the time limit for the tax credit program while offering fewer credits annually.
The tax credits are being used by a developer, Paul McKee, who has promised a multi-billion dollar makeover for north St. Louis.
In March, the Missouri Supreme Court heard a case regarding the constitutionality of a state tax credit which, as we stated then, enabled St. Louis developer Paul McKee to buy up several tracts of land on the city’s north side.
When the case was heard in March, attorney Irene Smith, who represents plaintiffs and North St. Louis residents Barbara Manzara and Keith Marquard, said that the tax credit violates the state constitution by giving state tax dollars to private business interests.
The Supreme Court cited a couple different reasons for their decision.
Updated 4:20 p.m. to correct math error in amount of demolition and remediation.
Developer Paul McKee's plan to revitalize North St. Louis is taking a few small steps forward.
Alderwoman April Ford-Griffin will officially introduce legislation tomorrow authorizing Northside Regeneration LLC, McKee's company, to start work on about $3 million of projects in the two-square mile site.