Missouri Auditor to look at St. Louis’ use of economic incentives
ST. LOUIS (AP) – Missouri Auditor Nicole Galloway will review how the city of St. Louis uses economic incentives such as tax abatement and tax increment financing.
The Democratic auditor in January agreed to request from the St. Louis Board of Aldermen for a comprehensive audit of city government. She said Tuesday that her review will examine how incentives are administered by city offices.
Galloway says in a news release that while incentives can be valuable economic development tools, she has heard concerns from residents about the “transparency and accountability” of incentive programs used by the city.
It isn’t clear how long the audit will take.