TIF

Jason Rosenbaum, St. Louis Public Radio

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.

(St. Louis Public Radio)

The St. Louis Tax Increment Financing Commission voted to activate the last two phases of the Northside Regeneration project Wednesday morning, which has more than $190 in TIF funding.

Six commissioners voted yes with one, Ken Hutchinson, abstaining.

It now will move to the Board of Aldermen where the Housing, Urban Development, and Zoning committee likely will hear it.

Paul McKee told the TIF Commission at the meeting he has two major industrial users interested in moving into the area bringing a total of 250 jobs.

"TIF helps recruit jobs," McKee said.

(St. Louis Public Radio)

After over 3 years of litigation, developer Paul McKee’s controversial Northside Regeneration Project is being allowed to proceed.  On Tuesday the Missouri Supreme Court reversed a lower court decision blocking McKee’s use of so-called "Tax Increment Financing," (TIF) for the development.

Adam Allington / St. Louis Public Radio

Demolition crews are set to make way for a $106 million overhaul of the old Northwest Plaza Mall in St. Ann.

The nearly two-million square foot property has sat vacant for years and will be rebranded as “The Crossings at Northwest”.

On Tuesday elected officials took turns taking a sledgehammer to the old Sears Automotive Center, located at the corner of Lindbergh and St. Charles Rock Road.

Subsidies for a scaled-back Ballpark Village continued their march toward completion at the Board of Aldermen today - a day after getting the nod from a city development agency.

The $17 million in tax incentives got initial approval from the board today. It still needs one more vote from the Board, and then approval by the state. That meeting appears to be scheduled for July 17.

Are public incentives likes TIFs and TDDs worth it? An updated report by the East-West Gateway Council of Governments says probably not.