The St Louis Contrarian

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

Archive for the category “tax increment financing”

23 May 2018

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

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Posted in affordable housing, economic development, homeownership, rental housing, st louis county, tax increment financing and tagged , , , | Leave a comment
20 May 2018

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.

Posted in affordable housing, Commercial real estate, community building, economic development, new housing, poverty, rental housing, st. louis, tax increment financing and tagged , , | Leave a comment
21 Mar 2018

More on Development Incentives

The Riverfront Times contained an excellent article today. It focused on a bill before the Missouri legislature which will improve the use of TIFs. It will require more transparency, shorter TIF periods, and allow the school districts more input and the possibility of opting out. The legislation is supported by both liberal and conservatives etc. The City of St. Louis is opposed to it because they want more “local control” over the process. Once again the City of St. Louis is on the wrong side of history. Written by Paul Dribin.

Posted in economic development, new housing, st. louis, tax increment financing, Uncategorized and tagged , , | Leave a comment
02 Jan 2018

TIFS in St. Louis

I just read an article posted by Alderman Cara Spencer on facebook regarding the City of St. Louis financial position. The article quoted is entitled Team TIF St. Louis.

The gist of the article is that the city’s financial picture is dire and that TIF’s are the cause. As I have said previously, development subsidies are overdone in St. Louis mostly when used for projects that don’t further economic development. The analysis of TIFs is overly simplistic for the following reasons:

1. It is not really a debt. They are deferred funds that will eventually go to the city which are now going to developments.

2. Without the TIF nothing would have happened. It is not as if there would be a lesser project, there would be no project at all.

3. St. Louis is between a rock and a hard place. It is declining economically, riddled with crime and high taxes, and needs incentives to prime the pump. The real question is whether things will ever take off. Written by Paul Dribin

Posted in Commercial real estate, economic development, st. louis, tax increment financing and tagged , , | Leave a comment

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