ST. LOUIS (KMOX) – The full Board of Aldermen will consider an extra $16 million in tax breaks for the Cardinals as they look to start construction on Phase II of Ballpark Village.

Related Story: Alderman Coatar Pushing for Ballpark Village Tax Breaks

The Housing Urban Development and Zoning committee passed it to the full board on Wednesday. The $16 million is in addition to the $50 million outlined in the original plans submitted years ago. However, developers and the Cardinals say the project has grown in scope since then.

Phase II is expected to include a luxury high rise apartment tower, a new Class A office building, and more retail.

The agreement was amended to allow developers to apply for New Market Tax credits – thereby reducing the city’s financial burden.

(TM and Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Follow us on Twitter | Like us on Facebook


Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS St. Louis

Download The App

Listen Live