Missouri Legislature North St. Louis Northside Regeneration Public Policy

Distressed Areas Land Assemblage Tax Credit Act Signed by Governor

by Michael R. Allen

Yesterday Governor Matt Blunt signed into law the “economic development” omnibus passed by the Missouri legislature last week. The bill contains the Distressed Areas Land Assemblage Tax Credit, a measure designed to reimburse landbanking costs in impoverished areas. Specifically, the tax credits’ authors intend for them to be used in north St. Louis for a project by developer Paul J. McKee, Jr. The details of that project are not available to elected officials or citizens.