Big tax breaks to be offered in north St. Louis redevelopment effort
ST. LOUIS (KMOV) -- The urban renewal board is hoping huge tax breaks will spur the development of a 400-acre section of north St. Louis. The board voted this week to offer developers tax abatement of up to 95 percent for 10 years and then up to 50 percent for the next 15 years.
The area designated for redevelopment is from Kingshighway Boulevard on the west, to Vandeventer Avenue on the east. And Garfield Avenue on the north to Page Boulevard on the south. Linda Allen lives in the area.
“I think this neighborhood needs to be brought up because for years it’s just been run down, down, down, down,” she said.
The city is setting aside $150 million in federal pandemic funds to help with the redevelopment effort. Another key component is the Land Clearance Redevelopment Authority (LCRA) decision to declare the area as blighted to pave the way for redevelopment.
“I know our area has been struggling for quite some time. So hearing that new development is getting ready to come, it brings joy to my ears,” said Raychell Ming.
Ming owns Just the 2 of Us Fried Rice in the 1800 block of North Taylor Avenue. Arthur George owns the building where the restaurant operates.
The tax abatements planned for the redevelopment project are the largest the city uses.
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