( KTRS ) The Clayton Board of Aldermen has approved a tax abatement agreement with Centene.
The agreement between the Medicaid managed care company and Clayton, knocks 40 percent off real property taxes on the new buildings planned along Forsyth Boulevard in downtown Clayton.
The vote came despite opposition from some residents, who complaints included the hefty tax incentives, the lack of a public vote on the plan and traffic congestion during construction. In all, the agreement is projected to save Centene about $75 million, off of the total $775 million project, over the next 20 years.
With-in the next 4 years, the company hopes to build two office towers of around 30 stories each. One would include a hotel and an auditorium.