The St. Louis American yesterday published an editorial endorsing the idea of a tax credit for private land-banking in low-income areas that does not include any guarantees for actual development.
While wisely suggesting future dialog and compromise among the parties involved in the current debate over the Distressed Areas Land Assemblage Tax Credit Act, the editorial does not address any of the problems in that legislation that make its use in north St. Louis problematic. Furthermore, the American has yet to publish a single news article on the tax credit proposal or on developer Paul J. McKee, Jr.'s plans for the near north side. The paper is squandering the chance to promote the civic dialog that it calls for.
Read the editorial here.