North St. Louis Development Plan Clears Hurdle
ST. LOUIS - A city tax commission has signed off on developer Paul McKee's planned NorthSide Regeneration project.
The St. Louis Tax Increment Financing Commission's unanimous vote Wednesday came two weeks after the city panel delayed its decision following a public hearing dominated by neighborhood residents seeking more involvement. The $390 million tax financing package now goes to the St. Louis Board of Aldermen.
The St. Louis Post-Dispatch reports that McKee hopes to start street and sewer work before the end of the year. McKee says he already has two "major industrial users" ready to sign on that would bring close to 300 jobs.
Plan call for revitalizing two square miles of blighted neighborhoods with up to 10,000 new homes and millions of square feet of office and retail space