ST. LOUIS (KMOX) – The St. Louis Board of Aldermen is preparing for a hearing on Paul McKee’s plan to redevelop parts of north St. Louis with the help of a $400 million city tax break.
That tax increment financing plan needs the blessing of the Housing and Urban Development Committee, where alderman Marlene Davis sits. She says not all residents in her ward are happy with McKee.
“Properties have been bought and left abandoned. The awful, awful look of the neighborhood with all these buildings that are falling down, not boarded up properly, all of that. So they have a lot of concerns,” she explained. “The TIF is only for infrastructure so that doesn’t lead me to have any high expectations to see anything that truly makes a difference in the city.”
Other aldermen expressed similar concerns about what exactly McKee plans to do if he gets the final green light to begin developing.
“His past record shows me he doesn’t move very fast but he’s always asking for money so that worries me,” Alderman Larry Arnowitz said.
The plan was originally blocked by a lower court but the Missouri Supreme Court reversed that ruling in April.
Despite the concerns of Davis and Arnowitz, McKee’s plan is expected to win final approval.