Ballpark Village Developers To Ask For Tax Incentives
ST. LOUIS, MO (KTVI) – Developers for the Ballpark Village Project will meet Tuesday with the state of Missouri to ask for tax incentives. The Missouri Development Finance Board will hold its first hearing to possibly approve part of the $17-million in state and local tax incentives for Village developers.
The St. Louis Cardinals Baseball front office and Cordish Companies say they need the breaks to finally get construction going near Clark Street and Broadway, across from Busch Stadium.
This is just the first meeting on the road to state approval. The board has to hold a second hearing. So, the earliest the incentives will be approved will be mid-September.
The St. Louis City Board of Aldermen approved the Village development plan in two rounds of voting last month. The Missouri Downtown Economic Stimulus Authority green-lighted developers to go after the tax incentives the same week as the first aldermanic passage.
Things have not always gone so well for the project. For years, developers faced government-funding rejections and key tenants leaving the negotiating table.
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