The Use Of Tax Increment Financing In The City Of Saint Louis (Downtown)

Corporate Welfare | October 30, 2013

By David Stokes | Read Time 1 minute minutes

The redevelopment of the General American building in downtown Saint Louis is exciting, but the now standard assumption of public subsidies for these projects is unfortunate. According to the TIF application for this project, the developer is asking for more than $16 million in public assistance (which includes more than just this $8,148,000 TIF request). Saint Louis crossed the Rubicon of authorizing TIF far too frequently many years ago. (There are currently 125 TIFs within the city. ) However, even by Saint Louis’ generous TIF standards, $8 million in Tax Increment Financing to help a company move two blocks is eye-opening.

Read the full testimony:

About the Author

David Stokes

David Stokes is a St. Louis native and a graduate of Saint Louis University High School and Fairfield (Conn.) University. He spent six years as a political aide at the St. Louis County Council before joining the Show-Me Institute in 2007. Stokes was a policy analyst at the Show-Me Institute from 2007 to 2016. From 2016 through 2020 he was Executive Director of Great Rivers Habitat Alliance, where he led efforts to oppose harmful floodplain developments done with abusive tax subsidies. Stokes rejoined the Institute in early 2021 as the Director of Municipal Policy. He is a past president of the University City Library Board. He served on the St. Louis County 2010 Council Redistricting Commission and was the 2012 representative to the Electoral College from Missouri’s First Congressional District. He lives in University City with his wife and their three children.

[email protected]

Learn more about this author >