Local officials call for a Missouri Senate committee to reconsider tax-breaks the state gives to developers. David Schneider has more in Jefferson City.
The state encourages development of blighted areas by giving tax-breaks to companies that will develop there. But some officials told a senate committee Tuesday the state has too broad a definition of what blight is. Les Sterman, Executive Director of the East-West Gateway Coordinating Council for Government says the state should be more selective.
The chair of the Senate Interim Committee on Tax Increment Financing, John Griesheimer says he doesn't want to the see the definition of blight changed, but says exceptions to the rule would be good. From the state capital, I'm David Schneider.
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Local officials say the state should not be taking tax money away from schools and public safety to build shopping centers. David Schneider has more in Jefferson City.
Giving tax breaks to developers who come into blighted areas is one way Missouri encourages development in these places. It's called TIF, for tax increment financing. However some local officials told a Senate committee Tuesday the benefits are not gong to the right places.
Executive Director of the East-West Gateway Coordinating Council for Government says easing tax costs to developers in communities that don't really need help is not the way to use TIF.
Sterman says this is an issue both in Saint Louis and across the state.
The chairman of the Senate interim committee on TIF says a working group will go over recommendations in November. From the state capital, I'm David Schneider.
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Local officials say the state needs to stop helping developers at the cost of schools and public safety. David Schneider has more from Jefferson City.
One way the state gets developers to come into blighted areas is by giving tax-breaks.
But some local officials told a Senate committee Tuesday the state's definition of blight is too broad and should be redefined to focus help on communities that really need it.
The chairman of the senate interim committee on tax increment financing John Griesheimer says he has another idea.
Griesheimer says a working group will go over recommendations in November. From the state capital, I'm David Schneider.