Tax Breaks for Grove Development May Be Cut
Date Posted: April 27, 2017
Posted In: News,
From St. Louis Post-Dispatch: The days of offering 10 years of tax abatement to anyone who wanted to rehab a house in the strengthening Forest Park Southeast Neighborhood may be numbered.
That was the indication Tuesday from the city’s Land Clearance for Redevelopment Authority, which vets requests for the property tax breaks.
Two requests were before the board Tuesday. One, a house rehab on Oakland Avenue, sought just five years of property tax abatement. Another, a proposal for a new home on Gibson Avenue, wanted 10 years.
The LCRA board has previously discussed whether it’s time to reduce from 10 years the length of abatement offered in the neighborhood that seems to be turning around with new projects by the day.
“It’s starting to change and we’re starting to ratchet down,” said Michael Griffin, a St. Louis Development Corp. staff member who reviews abatement requests.
But ultimately, reducing the amount will require agreement from Park Central Development, the community development corporation that reviews development proposals in the neighborhood, and the area’s alderman, Joe Roddy.
Another plan for a new house sought 10-year property tax abatement for a 2-story house with a 2-car garage and a basement apartment. The developer anticipates a sale price of $466,000.
Board members questioned why the higher abatement was being sought. Brent Crittenden, chief executive of design and development firm UIC, which is building the new home, said Park Central supported the request because the home would be built on a slope and bring the land into compliance with the form-based development code governing the area. A prior owner had wanted to keep the lot open in violation of the code.