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The St Louis Contrarian

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

Archive for the category “economic development”

University City Development

www.bizjournals.com/stlouis/news/2018/05/29/university-city-development-proposal-mirrors.html

A very thoughtful article in the Business journal about the proposed development at 170 and Olive in University City. This is a big project and many homeowners could be displaced. They would receive just economic benefit but the overall cost to them and the community is large. Written by Paul Dribin

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TIF In University City

NOVUS Development had been approved by University City to develop a mixed use commercial site at the intersection of Olive and I-170. This is an ethnically diverse area with lots of small businesses and minority residences. Community leaders are calling for a Community Benefits Agreement which would establish clear objectives to benefit everyone in the community especially those that might be displaced by the development. I believe this is only fair and proper in such a situation. I am confident this development will be a win-win. Written by Paul Dribin

More McKee Stuff

www.stltoday.com/business/local/after-mckee-revelations-can-city-hall-and-the-developer-work/article_3de8a615-bd0d-5a01-a5a2-29dfca791a27.html

A good article from Post about latest in McKee developments in north St. Louis. It sure appears his empire is a house of cards ready to fall.

Six Things That “One Hundred” Tells Us – NextSTL

Six Things That “One Hundred” Tells Us – NextSTL
— Read on nextstl.com/2018/05/six-things-that-one-hundred-tells-us/

A good and thorough article in Next Stl about the lavish 100 building going up on the east side of Forest Park.

St Louis and Older Industrial Cities

www.brookings.edu/wp-content/uploads/2018/04/2018-04_brookings-metro_older-industrial-cities_full-report-berube_murray_-final-version_af4-18.pdf

A report from Brookings which analyzes overall strengths of older industrial cities, of which St. Louis is one. It actually gives St. Louis fairly high marks for its’ improvement and potential. Written by Paul Dribin

Paul McKee

Those of you in the St. Louis area are well familiar with Mr. McKee, a long time developer who is attempting to transform the north side of St. Louis though massive development efforts. He owns hundreds of properties and has a bold vision for development. Many community based folks have been suspicious of him.

It turns out these suspicions seem warranted. The St. Louis Business Journal reported that McKee had inflated sales prices of his properties to increase his receipt of state tax credits. This is of course fraud.

I am actually disappointed. I knew Paul fairly well at one time and considered him a true visionary whose heart was in the right place. With me he was always generous with his time and was always very accessible. I like to think I am a good judge of character, but in this case I was fooled. Written by Paul Dribin

City of St. Louis Credit Rating

As many have predicted, most notably Comptroller, Darlene Green, the City of St. Louis has had its bond rating lowered once again. The obvious result of this action will be a higher cost of borrowing and fewer projects. Heaven help us if the interest rates go up.

Experts say a leading cause of this action was the funding of the Blues rehab to Scottrade Center. Again, Ms. Green attempted to block it but was unsuccessful.

These situations are bad enough if the money is spent for critical activities. It is horrible to spend it on helping a sports team, as much as I love hockey. Written by Paul Dribin

Loop Follies Revisited

An article in the Post Dispatch indicated that the Loop Trolley will begin at 2/3 capacity. That is because one of the cars will not be available due to repairs that are needed for it. These repairs have taken a very long time to complete because the parts have to be made in Germany. When the service will begin in any capacity is still a mystery. If you understand any of this you are a better person than me. Written by Paul Dribin

St. Louis Economic Development Partnership

This organization led by Sheila Sweeney has done some corrupt things. Sweeney who came over from the St. Louis County Port Authority has been in the middle of most of the crooked deals of the Stenger administration. These include attempting to develop a part of Creve Coeur Park for the Blues training facility and then lying about it, entering into a corrupt no bid contract with Montelle Williams to promote the county. This contract has now exceeded its’ budget by 30% and no one knows why. The Port Authority which has a close relationship with Sweeney is now providing the funding for the Blues facility in Maryland Heights. I know of no public discussion about this issue. Why is no one investigating? Written by Paul Dribin

New Development Proposed on Choteau

A new mixed use development is proposed on Choteau and Jefferson. It will be quite a large project encompassing commercial, residential, and retail. The area could certainly use something like this. We wish the project well. Written by Paul Dribin

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