tax increment financing
The development project located near the National Shrine of Our Lady of the Snows will include nine restaurants and is expected to cost up to $60 million.
“You’re wanting TIF money from us right now, based on an evolving plan? Would you sign a black mortgage? Because I’m pretty sure you wouldn’t.”
Developer Jim Sansone, principal at the Sansone Group, is speaking up in support of tax breaks for big developers to keep building strip malls in St. Louis County.
Members of the St. Louis Tax Increment Financing (TIF) Commission approved $8.1 million for the project Wednesday, by a 4-0 vote.
Hancock & Kelley – Friday, August 2nd – July Jobs Report; Scott Faughn of Mo. Times; David Stokes of Show-Me Institute; Henry Goldkamp; Robert Taubman; Mo.State Sen. Eric Schmitt on Student Transfers; and Legally Blonde at Stages St. Louis
John and Michael talk about the July job numbers report, with Scott Faughn of Mo. Times, with David Stokes about the Crestwood Mall and TIF money, with Henry Goldkamp about “What the Heck Is STL Thinking?”, with Robert Taubman about the new Chesterfield outlet mall, with Mo.State Sen. Eric Schmitt, and with actors from the Stages production of “Legally Blonde, The Musical”.
A trial court more than two years ago threw out $390 million in TIF funding for developer Paul McKee’s NorthSide Regeneration project.
“We shouldn’t be paying companies to come to our city, they should want to come to our city and say ‘this is a great city.'”
Even though county tax commissioners last night rejected a $15 TIF package for Walmart in Shrewsbury, there’s a good chance the store will be built.
“Well, we’re happy here, out of committee and on to the next step of a long public approval process,” DeWitt said.
Supporters say the federal money will be there, despite D.C. budget woes