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.
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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.
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