After it’s done collecting all the proposals for the site, the council could decide to pitch in tax incentives to aid in the redevelopment — a likely move, considering smaller redevelopment projects for the city have gotten incentives. At the January meeting, [Kroenke attorney Alan] Bornstein told the committee that he already owned 425 acres of the proposed redevelopment area, had an additional 230 acres under contract and was in discussion with property owners to secure the remaining 1,100, according to meeting minutes.
He also suggested that the project would require significant tax incentives, saying that a “public/private partnership would be necessary,” according to the minutes.
The possible Kroenke Maryland Heights floodplain TIF completely summarizes the circular firing squad that is our regional government.— Scott Ogilvie (@ward24stl) February 5, 2016
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