Schools want part of TIF funds

The statement below was delivered by SLPS representatives to the City of St. Louis TIF Commission for last night’s meeting regarding the developer Paul McKee’s $390M TIF request:

“The St. Louis Public School District, the Special Administrative Board and its appointees to the City of St. Louis Tax Increment Financing Commission fully recognize the importance of major economic development projects, including the proposal being discussed today, to the future of the City and the entire St. Louis region. We know that projects of this magnitude stimulate the local economy during development and after completion.

This project, specifically, will require a significant investment in public infrastructure – streets, sidewalks, sewer, water and school buildings. Renovated or newly constructed school buildings will be a necessary part of the public infrastructure investment for this project. This project will attract new families to the area, and their children will need schools. For this reason, the St. Louis Public Schools, the Special Administrative Board and its appointees to the City of St. Louis Tax Increment Financing Commission encourage this commission to fully support the use of infrastructure funds within the TIF Zone for renovation or new construction of St. Louis Public School District facilities. We encourage this Commission to recommend that an agreement between the St. Louis Public Schools and the developer for new construction or substantial renovation of school buildings be a part of the Commission’s final project plan before it is submitted to the Board of Aldermen for approval.”

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