Missouri Supreme Court Tackles North St. Louis Redevelopment

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ST. LOUIS (AP) – The Missouri Supreme Court has been asked to rule on a challenge to public incentives for an $8.1 billion redevelopment project in north St. Louis.

The approval of $390 million in tax increment financing for developer Paul McKee’s project was thrown out by a trial judge two years ago.

In a ruling Tuesday, a panel of the Missouri Court of Appeals agreed with the trial judge. But the panel transferred the case to the state Supreme Court, citing the general interest and importance of the issues.

The tax increment financing was challenged by a group of St. Louis residents living near the 1,500-acre site. McKee’s plan calls for developing revitalized neighborhoods anchored by business centers.

(Copyright 2012 by The Associated Press. All Rights Reserved.)