ST. LOUIS (KMOX) – The Missouri Supreme Court is scheduled to hear arguments this week on Paul McKee’s north St. Louis redevelopment plan and whether its tax breaks are legal.
Two lower courts have already ruled against McKee, saying the $390 million tax increment financing package from the city isn’t legal. When asked if a backup plan exists in case McKee’s plan is struck down by the high court, Mayor Slay said it “was a very complex legal issue” but that his development team is “absolutely” considering options.
“First of all, Paul McKee is moving forward with his project,” Slay said, adding that “Humpty Dumpty’s not going to fall off the wall.”
“I do believe that there is plenty of room for him to continue this thing and I do believe that he’s a guy who has a very good reputation of being able to get things done and make them happen,” the mayor said.
Slay said McKee has assembled large chunks of land together in north St. Louis which could be easily repackaged or developed, but what the court decides may limit what he is able to do.
McKee was also a big backer of the failed China Hub effort at Lambert Airport, which at one time he predicted would create manufacturing jobs in his northside redevelopment project.