Public officials often throw money at development incentives. This time, they want to take money back.
ST. LOUIS PUBLIC SCHOOLS, CITY HALL’S COFFERS and museums and libraries across the city would get a cash infusion this year totaling over $6 million — with more likely to come in 2020 and 2021 — if a bill to be introduced at Friday’s Board of Aldermen meeting becomes law.
The bill, sponsored by 28th Ward Alderwoman Heather Navarro, seeks to amend a tax increment financing (TIF) deal that diverts millions of tax dollars each year from the Chase Park Plaza hotel and condominium complex to support the city-owned Argyle parking garage. The garage is one block east of the Chase at Lindell and Euclid boulevards in the Central West End.