ST. LOUIS–(KMOX)–Developer Paul McKee gets first-round approval for a $400 million tax break package to reshape north St. Louis.
The Aldermanic Housing and Urban Development Committee passed a pair of McKee TIF bills, moving them onto the floor for full debate.
“I’m hoping, number one, that he follows the will of the people that live in that TIF area,” said committee member Terry Kennedy, “and two, to see if any new economic development generated out of that can also help other parts of north St. Louis.”
The tax break package now includes some amendments designed to help residents in the area under development. A portion of the TIF money would be set aside for home repairs, and McKee is also pledging to hire some residents from within the development zone for construction jobs.
Alderman Antonio French was asked if he trusts McKee to finish what he starts in north St. Louis.
“That’s two questions,” French said, “One, do I trust Paul McKee? We’ve been let down by Mr. McKee several times before. And two, is he going to be around to finish a thirty year plan? I don’t know. If he is, I need some of his genes.”
The plan now moves onto the full board of aldermen for more debate.