// a href = ./ // St Louis News, Weather, Sports, The Big 550 AM, St Louis Traffic, Breaking News in St Louis

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.

Published in Local News
Tuesday, 12 February 2013 08:40

Paul McKee to appeal for tax credit extension

Developer Paul McKee will be in Jefferson City Tuesday, trying to save his stalled NorthSide Regeneration project. The McEagle Properties chairman will ask the House Economic Development Committee to extend the tax credit program he's been using to amass land for the project.

The $95 million Distressed Areas Land Assemblage credit was passed in 2007 and will expire this August.

McKee's company has received more than $40 million so far and amassed 2,200 parcels of land in north St. Louis for the project. But McKee told the St. Louis Post-Dispatch that he's needs to buy another 500 parcels for contiguous sites.

The NorthSide project calls for new and refurbished homes, retail and manufacturing space, along with schools and medical facilities on a two square mile area just north of downtown.
Published in Around Town
Tuesday, 12 February 2013 00:45

Paul McKee to appeal for tax credit extension

Developer Paul McKee will be in Jefferson City Tuesday, trying to save his stalled NorthSide Regeneration project. The McEagle Properties chairman will ask the House Economic Development Committee to extend the tax credit program he's been using to amass land for the project.

The $95 million Distressed Areas Land Assemblage credit was passed in 2007 and will expire this August.

McKee's company has received more than $40 million so far and amassed 2,200 parcels of land in north St. Louis for the project. But McKee told the St. Louis Post-Dispatch that he's needs to buy another 500 parcels for contiguous sites.

The NorthSide project calls for new and refurbished homes, retail and manufacturing space, along with schools and medical facilities on a two square mile area just north of downtown.
Published in Local News

Latest News

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
Prev Next
Pens close out Sens in 5

Pens close out Sens in 5

PITTSBURGH (AP) — Too much talent. Too much skill. Too much composure. The Pittsburgh Penguins have reached the NHL Eastern Conference finals and will play either the New York Ran...

Pacers stun Heat in game 2

Pacers stun Heat in game 2

MIAMI (AP) — This time Indiana didn't wilt in the final seconds. After losing the NBA Eastern Conference finals opener in overtime to Miami, the Pacers kept their composure until ...

NASCAR Coca-Cola 600 qualifying results

NASCAR Coca-Cola 600 qualifying results

CONCORD, N.C. (AP) — Denny Hamlin has never won a Sprint Cup race at Charlotte Motor Speedway, but he's put himself in good position to do it this weekend. Hamlin broke the track ...

James unanimous All-NBA selection

James unanimous All-NBA selection

NEW YORK (AP) — Miami's LeBron James was a unanimous pick for the All-NBA team. James received all 119 votes for the first team from a panel of sports writer and broadcasters throu...

Chicago on verge of elimination...Kings go up 3-2 in NHL Playoffs

Chicago on verge of elimination...Kings go up 3-2 in NH…

UNDATED (AP) — The Chicago Blackhawks had a wonderful regular season, finishing first overall after setting an NHL record by going their first 24 games without a regulation loss. N...

BMW PGA Champioship underway

BMW PGA Champioship underway

VIRGINIA WATER, England (AP) — Two-time defending champion Luke Donald and Ryder Cup teammate Ian Poulter missed the cut Friday at the BMW PGA Championship. Donald (72) was 6 over...

Fans thrilled to see soccer at Busch Stadium

Fans thrilled to see soccer at Busch Stadium

   Thousands of soccer fans were treated to an exhibition match between two of the world's most successful teams.  The Busch Stadium field was transformed into a pitch for last nig...

Jaime Garcia expected to miss year after surgery

Jaime Garcia expected to miss year after surgery

SAN DIEGO (AP) — St. Louis Cardinals pitcher Jaime Garcia will have surgery on his left shoulder this week and is expected to miss the rest of the season. The Cardinals announced ...

© 2013 KTRS All Rights Reserved

St Louis Web Design