By Antonio D. French
Filed Tuesday, August 28, 2007 at 9:11 AM
By a unanimous vote yesterday, a State Senate committee approved House Bill 1, the economic development package which includes the controversial Distressed Area Land Assemblage Tax Credit. The committee also passed two amendments to address some outstanding concerns with the credit. From the Post-Dispatch:
The revision stipulates that the tax credit cannot assist developers with outstanding fines, bills or taxes to a municipality. As of last month, public records indicate that McKee owed more than $35,000 in fees to the city for providing upkeep at the abandoned tracts, though city officials say they are satisfied the money will be paid.
The panel also approved an amendment ensuring that public hearings are held before the approval of any project qualifying for the tax credit. Last week, the House approved an amendment requiring local elected officials to sign off on qualifying projects.
Labels: Blairmont, Development, Tax_Credits
3 Comments:
So much for the little sticky notes reminding someone to watch for this bill on its way back, and the 'good intentions' of voting correctly on it, when that time comes.
Procrastination and green bananas...not for the 'later than you think' crowd.
makla
8/28/2007 6:15 PM
This is great news for the north side. some people just dont realize it yet.
8/29/2007 11:01 AM
I am from the North side, payoffs for legislation is not good for me or my neighborhood.
8/30/2007 6:19 AM
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