KWMU Reports on Land Assembly Tax Credit and the ‘Blairmont’ Scheme
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Most of you have heard the deal by now, a huge tax credit for developers doing projects of 75 acres or more in North St. Louis. That is the plan passed by the Missouri legislature and awaiting Governor Blunt’s signature. But 75 acres is just massive. For comparison sake, the old Pruitt-Igoe housing site was only 57 acres (source). From KWMU:
Missouri’s historic tax credit program has done wonders for the city of St. Louis. It allowed big developers to turn old downtown warehouses into lofts. It’s also helped individual rehabbers fix up houses that have seen better days.
But a new tax credit plan that Missouri lawmakers sent to Governor Matt Blunt this spring gives developers major incentives to buy up large tracts of city land.
Someone is already doing that on the near north side, and many people there are worried about the future of their homes.
Click here for the story and link to the MP3 audio report from KWMU’s Matt Sepic. Sepic indicates that he had scheduled to interview developer Paul McKee but that McKee canceled. Nice huh?
I’m personally not opposed to a tax break for developers on some larger projects. I have issues with the minimum size. Yes, a single home lot at a time will take longer than we have to revitalize the north side. But 75 acres at a minimum? St. Louis is blessed with a very nice street grid of very reasonable sized blocks. Why not have the minimum be more along the lines of 4-6 city blocks, still a decent sized project. Why is it we must always go for the gigantic silver bullet solution in this town?
Jane Jacobs calls this “cataclysmic money.” From Chapter 16 of the Death and Life of Great American Cities:
Money has its limitations. It cannot buy inherent success for cities where the conditions for inherent success are lacking and where the use of the money fails to supply them. Furthermore, money can only do ultimate harm where it destroys the conditions needed for inherent success. On the other hand, by helping to supply the requirements needed, money can help build inherent success in cities. Indeed, it is indispensible.
So far the state has not required anything that will ensure these 75+ acre projects have any qualities for success. The city, with its 1947 suburban zoning code, will almost ensure failure without massive variances. Developer McKee and Mayor Slay are remaining quite on their intentions and unfortunately will likely try to avoid public or professional input into the overall plan. My fear is the end result will be a huge “investment” but a long-term failure. At this point I have no edvidence to suggest otherwise.