St. Louis Aldermen Advance Cortex, WashU Incentives
Date Posted: December 19, 2024
Posted In: News, Projects,
From St. Louis Post-Dispatch: Aldermen on Friday narrowly won initial approval for a $40 million incentive package for Washington University’s lab development in the Cortex tech district.
Cortex and WashU officials had said they need $4 million in tax increment financing and $36 million in bonds approved by January. Without it, they said, they will lose an Alzheimer’s disease research company as the anchor tenant of their $93 million renovation of the former Goodwill building at Forest Park Avenue and South Sarah Street.
Several aldermen opposed the plan. They complained that they were only presented with details of the project earlier this week, and that Washington University, with its $12 billion endowment, could afford the project on its own.