$8 Billion north St. Louis project wins initial city approval - KMOV.com

$8 Billion north St. Louis project wins initial city approval

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By Sarah Heath By Sarah Heath

 ST. LOUIS (AP) -- An ambitious plan to revitalize a distressed swath of north St. Louis has won preliminary approval from the city’s elected leaders.

The St. Louis Post-Dispatch reports that a Board of Aldermen committee on Wednesday endorsed developer Paul McKee’s planned NorthSide Regeneration project. The project now goes to the full, 28-member board, which could sign off as soon as next week.

The vote comes one day after the aldermanic committee was unable to formally consider the measure because it lacked a quorum.   The project would tap nearly $400 million in city tax financing to rebuild two square miles of blighted neighborhoods with new homes, schools, parks businesses and more.

Elected officials also approved an amendment that requires unemployed city residents to get priority for entry-level jobs on the project.

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