State legislators are proposing major incentives for redevelopment in St. Louis. Lieutenant Governor Peter Kinder is looking to stimulate a new $100,000,000 redevelopment effort.
The incentives are aimed to assist developers in returning long vacant tracts of land and deteriorated buildings in our urban core to productive use.
One of the sponsors is Senator John Griesheimer. The new law would assist projects at least 75 acres in size, and provide developers with tax credits equal to half the cost of land and all interest costs.
The proposal is part of a state-wide program to produce good paying jobs in Missouri. For more information, check out Senate Bill 282 and House Bill 327.