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.
Mayor Paul has been at odds with several City Council members over a Walmart TIF project that he had opposed. Discussion over the TIF has led to several contentious council meetings, including the meeting in which Paul had tried to have a disruptive resident removed.
Last night's commission meeting wasn't without it's own drama. At one point, Mayor Paul's attorney, Lynette Petruska was removed from the meeting for allegedly disruptive behavior.
Still, the three-member commission sided with Paul. But it might not end there. The City Council could still vote to pursue the matter at Wednesday's meeting.