Shrewsbury Board Approves Walmart TIF
The proposed redevelopment at Kenrick Plaza, which calls for a mix of public and private financing, has been a divisive issue in the community.
The Shrewsbury Board of Aldermen approved using Tax Increment Financing for a planned Walmart development. The vote was 4-2 in favor of the plan. On Jan. 9, the St. Louis County TIF Commission rejected the request for $15 million in public financing for a controversial re-development of Kenrick Plaza that would bring a Walmart to Shrewsbury. The commission voted 9-3 against a motion to recommend the proposed development agreement for the blighted property and the request for $15 million in tax increment financing. In this case, the TIF would have generally split any increase in taxes collected as a result of the $46 million development 50-50 between the city and the project’s developer, G.J. Grewe for a set period of time. The action by …
Julia Humme
11:20 pm on Wednesday, January 30, 2013
When all the mom and pop stores are gone, and they have the market share to themselves, we will be paying whatever THEY want us to pay. We will not have a CHOICE. more ›