stlrainbow.bsky.social
Rusty Rust Belter With A Spring in My Step. President, Saint Louis Society for the Preservation of Two-Fams
368 posts
408 followers
223 following
Regular Contributor
Active Commenter
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☹️
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It was a year ago this month that the already flailing Missouri Central Bus Company had the noose incident. Boy did things go downhill from there. Zum, from out of town, seems leagues ahead in professionalism and capacity; including technology/apps.
apnews.com/article/st-l...
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woot!
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awesome!
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I say boo. I also see the latest townhome there sold in the $800,000s.
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The 20 yr. old TIFs under review are a reminder that TIF used to be the "go to" incentive back in the day; even for many purely residential projects. Tax Abatement is more prevalent today, but if reformed to better protect SLPS, TIF can make more sense for larger mixed-use and commercial projects.
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For the 25+ active TIFs under review in this year's "TIF Progress" Bill, $48M in property taxes have been diverted to the developers. Roughly $30M of that has been diverted from SLPS. The way St. Louis structures TIFs is unsatisfactory!
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While it's the McKee SuperTIF (on its 15 yr. review) where it's most clear that satisfactory progress has not been made, there are other questionable ones as well. The "Expo" (on 5 yr. review) promised 70 jobs; the report's estimate is for only 2 current jobs.
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The US Senate is no longer the world's most deliberative body. But is HUDZ still the least? Stay tuned!
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I wonder how hard it is to get info on the number and value of permits awaiting issuance.
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Rumor is its just one dude now reviewing permits.
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boo.
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Can you donate some beanie babies?
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Well, I think it's unclear exactly what the $1M owned is referring to after reading the full article. I may not have understood correctly.
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I haven’t read the full article yet to verify that it is indeed GreenStreet’s back taxes owed rather than something else but I think that’s it. But it’s almost too preposterous to believe.
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Another is if this state takeover of the police happens, which appears likely now, we’ll have to spend even more money on it… 25% of the budget!
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Oops… Brandon does.
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I do occasional carpentry work around the house.
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Creating the St. Louis Developer’s Corporation was a huge mistake.
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Holy shit.
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Wait. Is this $1.05M what Greedstreet owed in property taxes to the various districts, primarily to SLPS… and SLDC just wipes that out by taking over some riparian rights?
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It does get the consultants, lobbyists and lawyers paid. We need to think about their needs.
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I gotta say that is quality content!
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Interesting!
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Fwiw I thought the awards for STL city were pretty disappointing. I’ll try to do a thread later.
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Yes, the University Crossings development received competitive LIHTC award from MHDC last month.
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greatness is just around the corner if downtown lands that!
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are you off the QT bandwagon? That's what we really needed!
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Thanks. That was my read as well but I'm not overly familiar with Pittsburgh development. fwiw, here in STL we're starting to move towards requiring an affordable housing component in the hotter areas, but only if tax abatement is sought. Thanks again and I've appreciated your posts.
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Pomp & Circumstance! (I’m not quite sure what that phrase means but it sounds ceremonial!)
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Wow. A very deliberative body!
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Would the IZ plan apply to all projects of 20 or more units or just to ones seeking tax incentives?
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Last I heard they were working on it but are not yet on here.