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The St Louis Contrarian

Providing Independent and Intelligent Insight on St. Louis Public Policy Issues

Archive for the category “Commercial real estate”

The Aldermanic System in St Louis

Some of the recent controversies in the city, including support for the Blues Hockey Club and development subsidies are tied to a basic problem in St. Louis, the aldermanic system. The city has 28 wards geographically divided. These are the same number of wards for a city of about 320,000 as for when the city included 1,000,000 residents. Worse yet, the aldermen act as little dictators of their own turf and make all development decisions and pretty much approve all city spending in their fiefdoms.

HUD provides Community Development Block grant funds to the city. Every year the city takes those funds, which are intended to be used in the areas of greatest need and divides them 28 ways. Many aldermen have their own development groups rather than partnering with larger organizations.

It is no wonder so little gets accomplished in the city when you combine this system with the archaic further divisions with the Mayor and Comptroller. It is no wonder that an organization like the Blues does not get a clear signal of who is in charge. It is no wonder that St. Louis lags economically behind other cities. Written by Paul Dribin

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Historic Tax Credits and Trump

President Trump has proposed in his tax plan to eliminate the Federal Historic Tax Credits. This would be a disaster for most cities, and most significantly, St. Louis. Federal and state credits have been effectively used in St. Louis for years to rehabilitate and develop housing that is historically significant. The dollar value has to be in the hundreds of millions of dollars. The value to the community is even higher. This for a tax plan that increases the deficit and simply lines the pocket of already very wealthy Americans. Second, this does not even get at the possible cuts in the State of Missouri Historic Tax Credits proposed by Governor Greitens Written by Paul Dribin

Office Space in Downtown St. Louis

The demand for office space in downtown St. Louis is decreasing. This problem will only get worse when Ballpark Village builds out their office space. It has always been a mystery to me when new space is built when demand is so low. St. Louis as of now has a declining market. Written by Paul Dribin

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