tax increment financing

(via Wikiemdia Commons/Nyttend)

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.

(Rachel Lippmann/St. Louis Public Radio)

Legislative hearings get underway next week on the measures that could finally lead to the start of Paul McKee’s massive redevelopment project for north St. Louis.

A court case held up the $8.1 billion project for three years. The measures up for debate would give McKee access to an additional $192 million in tax assistance, and restart the project’s clock. Mayor Francis Slay and Congressman William Lacy Clay are both expected to speak in support at Tuesday's hearing. 

(Rachel Lippmann/St. Louis Public Radio)

An $8.1 billion plan to remake a big chunk of north St. Louis continues to face stiff opposition, four years after it was first made public.

More than 200 people, most of them opposed to the Northside Regeneration Initiative, packed the St. Louis city Tax Increment Financing Commission meeting today urging its members to spike the project completely.

Rachel Lippmann/St. Louis Public Radio

The life sciences district known as Cortex has gotten initial approval for the first phase of its $2.1 billion expansion plan.

The city's Tax Increment Financing commission voted today to authorize about $35 million in incentives for the first phase, which totals about $160 million.

The phase includes new office and laboratory space, a new Shriners' Hospital, and a streetscape known as Cortex Commons. Here's how it breaks down:

(via Flickr/steakpinball)

A state appeals court has upheld the efforts of St. Peters, Mo. to use tax increment financing to build a levee structure along Highway 370 to open the area to re-development.