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Developer Paul McKee's NorthSide Regeneration Project remains up in the air. The St. Louis TIF Commission delayed a vote yesterday on changes to the $390 million dollar TIF plan after residents demand more information.
The St. Louis Post-Dispatch reports that residents of the near-northside neighborhood spent nearly two hours criticizing McKee for failing to include them in his plans, and at least one key alderman threatened to block the project unless neighborhood concerns are addressed.
McKee says he's held more than 140 community meetings since unveiling plan four years ago.
ST. LOUIS (AP) - The Missouri Supreme Court has ruled in favor of a massive project using tax increment financing to redevelop an impoverished area of St. Louis.
A trial court more than two years ago threw out $390 million in TIF funding for developer Paul McKee's NorthSide Regeneration project. An appeals court sided with the trial court.
But the Missouri Supreme Court in a unanimous ruling Tuesday reversed the part of the ruling that voided a city ordinance, allowing the project to move forward.
An attorney for residents who sought to stop TIF funding calls the ruling disappointing. But McKee's attorney says it is a big day for St. Louis.
The $8 billion development is expected to eventually include 10,000 homes, office and retail space in a two-square-mile area north of downtown.