Categories
Missouri Legislature North St. Louis Northside Regeneration

Distressed Areas Land Assemblage Tax Credit Act Back, Still Seems to Benefit Only McKee

by Michael R. Allen

On Monday, Missouri House Speaker Rod Jetton convened a bipartisan group of House leaders to forge a compromise version of the controversial economic development bill (HB 327) that Governor Matt Blunt vetoed. The new bill, which may be heard by the end of August or in September during a special “veto session,” includes a modified version of the Distressed Areas Land Assemblage Tax Credit Act.

The modified version has reduced overall eligible project size to 50 acres, a move that still seems to benefit only developer Paul J. McKee, Jr.’s north side land assemblage project while bailing McKee out from the political problems of pursuing a larger plan. No other developer could qualify for the revised version, which seems even more helpful to McKee’ project than before while recuperating some of the rhetoric of critics of the Distressed Areas Land Assemblage Tax Credit Act

Leave a Reply

Your email address will not be published. Required fields are marked *