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Battle over TIF in Crestwood Mall project continues

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CRESTWOOD, MO (KTVI) - The battle continued Wednesday in Crestwood over the redevelopment at the Crestwood Mall.

Residents filled out surveys at an open house regarding the project.

The school district and the developers are at odds over tax increment financing that will help push the project forward.

Tax increment financing is a form of tax break to encourage redevelopment.

The Urban Street Group is set to get $28 Million dollars in tax increment financing for the project.

The current plan includes residential housing, which would mean more students might rely on the already overcrowded Lindbergh School District.

However, because of the tax increment financing the district wouldn’t get any more property tax dollars to offset the influx of new students.

The developers say they are willing to compromise with the district.

The mayor says the plan could change so everyone needs to be “patient.”

The developer plans on presenting the results of the surveys residents filled out to the Crestwood Board of Alderman later this summer.

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