Aldermen Give Paul McKee Green Light for State Tax Credits
ST. LOUIS–(KMOX)–Developer Paul McKee gets what he wants form the city board of aldermen — a chance to apply for some $1.5 million in fresh state tax credits.
By a vote of 26-3 the board gave McKee permission to attach his Bottle District property near the Edward Jones Dome to his stalled northside redevelopment project.
The move means McKee can apply for the state’s distressed area land assemblage tax break now for the Bottle District.
Among the three no votes, Alderman Antonio French.
“It is a real stretch to say that the Bottle District is part of the northside regeneration,” French said, “but it’s just another way to get another $1.5 million out of the state, and unfortunately he won again.”
Also voting no, Alderman Scott Ogilvie and Tom Villa both cited concerns about the wisdom of attaching the Bottle District property to a larger project tied up before the Missouri Supreme Court.
“In my opinion, it’s too fiscally murky,” Villa said, “It’s currently being litigated, and I thought at this juncture the board should have taken a wait-and-see approach.”
In voting no, Alderman Ogilvie called McKee’s northside plan “mired in deep legal and financial problems.” Ogilvie was asked in the board has developed a case of McKee-rubber-stampitis.
“Well, I will say that I think we could use a little more deliberation on this McKee stuff,” Ogilvie said.