The city of St. Louis often uses tax incentives as a means of spurring development. But one alderman wants to change how the tax breaks are given out and assessed.
Alderman Joe Roddy, D-17th Ward, told members of the Board of Aldermen’s Housing, Urban Development and Zoning Committee on Wednesday that he was forming a group to examine how tax increment financing and tax abatement is done in the city of St. Louis.
Three Missouri agencies will receive $1.6 million in federal funds to cleanup and redevelop contaminated properties.
The Environmental Protection Agency (EPA) announced this week that it has selected public authorities in St. Louis, Springfield and Jefferson City, to receive the funding as part of its $15 million supplemental revolving loan funds (RLF).
After decades and decades of competing against each other for jobs, St. Louis City and County announced on Friday, a decision to partner up to attract new companies.
The proposal, called the St. Louis Economic Development Partnership, would merge two agencies—The St. Louis Development Corporation in the city, and the St. Louis County Economic Development Council, under one roof.
Mayor Francis Slay says the move will create a sense of regionalism that has been lacking in economic development.