The same Aldermanic committee that approved developer Paul McKee's TIF deal earlier this week, is also backing a tax abatement for St. Louis' Union Station.
The Housing, Urban Development and Zoning Committee on Thursday approved the 20 year financing plan for Lodging Hospitality Management, which owns the downtown landmark.
LHM is planning a $66 million dollar makeover of the former train station that will convert some retail space into offices, repair the train shed, and add excursion rail service.
The St. Louis Post-Dispatch reports that two special taxing districts, each with a 1-cent sales tax, already cover the station. In addition, the owner is entitled to $3.5 million in sales tax rebates spread over 20 years.
All Aboard! That will be a call St. Louisans hear once again at Union Station. Owners of the National Historic Landmark announcing plans Thursday to restore excursion train travel as part of the the renewal of Union Station. KTRS' Vicki Pimentel reports from downtown.
"Union Station was built in 1894 and has weathered good times and bad. Once the busiest railway station in the world, it hasn't housed trains in years. But the purchase last summer by Lodging Hospitality Management seem to signal a new era of commitment to this St. Louis treasure.
Bob O'Loughlin heads up LHM and he's excited about the prospects. "We've had some conversations with the Rams about doing a program with them over to the Kansas City Chiefs preseason game to have fans go over there. We can do Cubs-Cards weekends, we can go to the wine country."
Excursion train travel is expected to be available this Fall. Vicki Pimentel KTRS News"