ST. LOUIS (KMOX) – Calling them “absolutely essential” Mayor Slay says he’s not going to just roll over and let half of the historic tax credits disappear.
“I’m going to be arguing and advocating for the maximum level of historic tax credits that we can achieve”” Mayor Slay told KMOX.
But the uphill battle the mayor faces is a recommendation from governor Nixon’s Tax Credit Review Commission.
The commission wants to cut the tax credits from 140 million a year to 75 million.
Mayor Slay says without the credits it would be difficult if not impossible to redevelop the Arcade Building or the Old Jefferson Hotel.
Slay says he understands that the Governor is trying to keep the state financially afloat but he’s not “throwing in the towel.”
Copyright KMOX Radio