An instance where the city's population as denominator helps.
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Taxable Sales for Q3 & YDT thru Q3 for City, Downtown Zip Codes, Selected CIDS & Industry codes. Biggest takeaway is that DT West is doing very well with Union Station's ridiculous growth since opening and City Park. Same in midtown with City Foundry as it's starting to fill up
StlToday - 30% of St. Louis city jobs are vacant. Aldermen wonder about a new approach.
https://www.stltoday.com/news/local/gov ... d05fd.html
https://www.stltoday.com/news/local/gov ... d05fd.html
Is $30M for "New Garage Doors 1415 N. 13th St" a typo or more than just garage doors?
Anyone who has ever applied for a job with the City could tell you they do not have their sh*t together.
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And yet the citizens of our fair city literally keep voting for people that contribute to the disfunction
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Is a business like Schlafly included in the Citypark number or is it the stadium only?
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Just the stadium and team store and it excludes tickets
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Pleased to see South Grand at least holding firm despite sone high profile turnover.
The growth in The Grove is everything we could have hoped for. Cherokee is en fuego!
The growth in The Grove is everything we could have hoped for. Cherokee is en fuego!
Story about the data https://www.firstalert4.com/2024/06/27/ ... -st-louis/
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Do these numbers take inflation into account?
If not, what is the actual spending growth?
If not, what is the actual spending growth?
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It’s kinda difficult, you can walk back the 2022-2023 by 3% to account for inflation BUT inflation has largely been driven by shelter (not a taxable sale), car sales (not many of those in the city, nor the CIDs) and insurance (also not a taxable sale)RockChalkSTL wrote: ↑Jun 28, 2024Do these numbers take inflation into account?
If not, what is the actual spending growth?
Per my review, "Food away from home" CPI is about 24% higher now than 4 years ago today, or about 6% per year.
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^ Sounds about right. For 2023, food-away-from-home (restaurants) was 7.1%. And it looks like while the CPI for groceries has calmed from the pandemic peak 2000-2022 more than it has for restaurants... from May 23 to May 24, it was just 1% for groceries but 4% for dining out.
Another thing to keep in mind in terms of city budgeting is that a lot of these sales are in TIF districts, where 50% of EATs taxes are diverted to pay the TIF notes. I haven't looked at the city budget docs but it would be interesting to see actual sales tax revenue increases... if increases in sales tax are largely attributable to popular new places that are TIFed like the Foundry, then the increase in city sales tax revenue may be subtantially less than the topline increase in taxable sales. And of course there's a high substitution effect with dining out/entertainment, and its possible that these places are taking significant biz away from non-TIF businesses.
Another thing to keep in mind in terms of city budgeting is that a lot of these sales are in TIF districts, where 50% of EATs taxes are diverted to pay the TIF notes. I haven't looked at the city budget docs but it would be interesting to see actual sales tax revenue increases... if increases in sales tax are largely attributable to popular new places that are TIFed like the Foundry, then the increase in city sales tax revenue may be subtantially less than the topline increase in taxable sales. And of course there's a high substitution effect with dining out/entertainment, and its possible that these places are taking significant biz away from non-TIF businesses.
Are the sales at City Foundry above or below that predicted in the TIF application? IOW, will the TIF be paid off early at current pace?
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^ Good question. It's certainly possible if it does a strong run the TIF could be paid off early, but you never know what the next 5 years will bring, let alone the 2030s. (The Foundry also has 15 year property tax abatement in addition to the TIF.)
Edit: I assume the stalled office tower component also would have some impact on the TIF via projected earnings and payroll taxes, etc.. If its unlikely to get off the ground, perhaps they are looking at more retail/entertainment or maybe a hotel as an alternative. As the bulk of property taxes are abated (and not diverted) I'm not sure how much residential would go towards paying the notes off.
Edit: I assume the stalled office tower component also would have some impact on the TIF via projected earnings and payroll taxes, etc.. If its unlikely to get off the ground, perhaps they are looking at more retail/entertainment or maybe a hotel as an alternative. As the bulk of property taxes are abated (and not diverted) I'm not sure how much residential would go towards paying the notes off.
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Taxable sales by City zipcodes. (all added up its missing about $1.4B-1.6B each year from citywide total but its consistent acorss all years, my guess MO Rev is missing zipcodes in some Biz records)
City of St. Louis Ends Fiscal Year 2024 With a Budget Surplus.
Comptroller Darlene Green announced today that the City of St. Louis closed its FY2024 with a General Fund Operating Budget Surplus of $42.4Million
https://www.stlouis-mo.gov/government/d ... 2-2024.cfm
Comptroller Darlene Green announced today that the City of St. Louis closed its FY2024 with a General Fund Operating Budget Surplus of $42.4Million
https://www.stlouis-mo.gov/government/d ... 2-2024.cfm