ST. LOUIS (KTVI) - You Paid For It investigates the challenge of dead and dying St. Louis area malls, and how the state is not doing enough to help them come back.
Crestwood Mall is now shuddered. Much of the old Northwest Plaza Mall has been leveled. Jamestown Mall in North County is dying on the vine.
Part of the trouble are state laws letting developers cherry pick more affluent areas and still get your tax incentives like TIF money.
Older malls get left behind losing sales to new shopping spots. The law doesn't not encourage a Regional approach; so much of the fight is one community fighting another.
I talked to Crestwood Mayor Jeff Schlink who says the current state laws produce an uneven playing field with older malls getting the short end while developers come out on top. He says they have taxpayers over a barrel demanding big TIF's for their projects.
Missouri State Senator Scott Rupp tried to overhaul part of the current TIF ordinance to make it harder for Developers to cherry pick projects. His bill passed the senator but died in the house.
People like House Majority Leader Tom Diehl from Town and Country were against it.
Diehl says it would cause developers to jump thru too many hoops!
You Paid For It grilled the majority leader on his plans for changing the law.
He admits there's a problem but is unsure of a solution.
- East West Gateway STUDY
- Crestwood Mall
- Northwest Plaza
- Jamestown Mall
- Article recession trouble for malls
- Crestwood Mayor Schlink
- Senator Scott Rupp
- State Rep John Diehl
- TIF Ordinance