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Thursday, July 19, 2007

Distressed Areas Land Assemblage Tax Credit Act Back, Still Seems to Benefit Only McKee

On Monday, Missouri House Speaker Rod Jetton convened a bipartisan group of House leaders to forge a compromise version of the controversial economic development bill (HB 327) that Governor Matt Blunt vetoed. The new bill, which may be heard by the end of August or in September during a special "veto session," includes a modified version of the Distressed Areas Land Assemblage Tax Credit Act. The modified version has reduced overall eligible project size to 50 acres, a move that still seems to benefit only developer Paul J. McKee, Jr.'s north side land assemblage project while bailing McKee out from the political problems of pursuing a larger plan. No other developer could qualify for the revised version, which seems even more helpful to McKee' project than before while recuperating some of the rhetoric of critics of the Distressed Areas Land Assemblage Tax Credit Act

Developing (ouch)...

6 comments:

constant change said...

Is it still proposed that we pay 1/2 purchase (+costs), 1/2 the demolition and all interest for 5 years?

Anonymous said...

This was totally predictable.

my main man vern, vern my main man said...

As expected

The insiders and out-state politicians may have underestimated the climate in which they operate in this case

Long-time and new stakeholders in the city are not going to buy this crud-ola

Anonymous said...

This is a great development.

Stop asking questions.

PE

matt said...

How do we know this is such a great development? No details have been released. The only thing that is known is that a lot of land is being bought, and that state tax money is wanted. More people might support this if some details are actually released.

Doug Duckworth said...

Richard Callow is part court jester part nefarious asshole.