Missouri lawmakers approved new state incentive packages that could accelerate redevelopment in down

Missouri lawmakers approved new state incentive packages that could accelerate redevelopment in downtown St. Louis. The centerpiece allows cities to create officially designated innovation districts with incentives such as office-to-residential tax credits (up to 30%), tax increment financing, property tax abatements, investment incentives, relocation support, and a dedicated public-safety funding stream tied to growth. It also creates a new Rural Missouri Development Fund and allocates some district revenues to public safety. Advocates say the measures could jump-start projects such as the ATandT Tower renovation and Cordish Companies’ $670 million Millennium Hotel redevelopment. Critics warn about diverted future tax revenue and outsized benefits for large developers, while supporters say the plan reinvents downtown by stabilizing employers and expanding housing. The Senate amended the bill and sent it back to the House; most provisions take effect August 28, 2026, and the measure now goes to Gov. Mike Kehoe for signature soon thereafter.
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Видео Missouri lawmakers approved new state incentive packages that could accelerate redevelopment in down канала MOStLouisToday