tax incentives | St. Louis Public Radio

tax incentives

Illustration by Rici Hoffarth / St. Louis Public Radio

A St. Louis citizens group wants the city to be more transparent when it comes to tax incentives.

Team TIF is asking the city's Board of Aldermen to pass three proposals and has even drafted the language:

The proposed office building would be on the west end of Ballpark Village, across the street from Busch Stadium.
St. Louis Cardinals

Updated Dec. 19 with Greitens opposition to public stadium funding - The St. Louis Board of Aldermen considered millions of dollars in economic development incentives Friday, sending some to Mayor Francis Slay while setting others up for approval in the New Year.

At a meeting that stretched over three hours, aldermen gave final approval to $56 million in incentives for the second phase of Ballpark Village and to an agreement with Saint Louis University that gives the school control over the development around its planned new hospital.

Provided by the Cardinals

The next phase of Ballpark Village would change the look of downtown St. Louis.

The Cardinals, along with development partner Cordish, plan to build a 29-story apartment building at the corner of Clark Avenue and Broadway Avenue, just north of Busch Stadium.

(From the Economic Development Incentives report from the PFM Group.)

Each month the commissioners of the Land Clearance for Redevelopment Authority of St. Louis hear request after request from developers and even residents for tax abatements that usually last five to 10 years. 

It's just one of the tools the city uses to spur economic development, but St. Louis officials are taking a look at how those tax incentives are distributed.