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PostApr 13, 2009#51

Support from Crowell's hometown:



http://www.semissourian.com/story/1529954.html

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PostApr 13, 2009#52

Stories like this are likely the most powerful (and possibly only) way to turn this debate in a beneficial direction.

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PostApr 14, 2009#53

That's why State Senator Crowell's myopic attitude about these tax credits absolutely blew my mind- Cape Girardeau- and its 300 block of Broadway in particular- is home to two excellent examples of historic preservation made possible by Missouri's tax incentive program (the Southeast Missourian Building and the Marquette Hotel).



There are other examples in Cape Girardeau as well, and the restoration of the old St. Vincent's Seminary into the Southeast Missouri State University River Campus will spark even more development in and around downtown Cape Girardeau. Whether we're talking about smaller communities like Cape or St. Louis and Kansas City, now is not the time to pull the plug on incentives like this that will bring people back to the historic cores of Missouri communities!



As for the Springfield representative, I've got news for her. St. Louis has about 355,000 people in a metropolitan area of almost 3 million residents. Kansas City has about 460,000 people with a metro population of 2 million. Springfield? It's a great city, their downtown is coming back nicely, but it has 160,000 residents in a metro area just under 400,000. Hmmm...now why does Springfield see less development spurred by these historic credits than St. Louis or Kansas City? :roll:



Springfield hasn't fared badly in this either. I can't think of the exact number, but there have been several buildings downtown that have benefited or will benefit from these incentives. Off the top of my head, the Hotel Seville, Ozark Camera Building, Wilhoit Building, the Springfield Discovery Center (originally a Chrysler-Plymouth showroom), and the Gillioz Theatre have all been restored using these credits. As soon as Kevin McGowan secures financing work will begin on the Heer's Building (once Springfield's leading department store), and McGowan is interested in other large downtown buildings as well. To think Springfield doesn't benefit enough is ridiculous. To sell short downtown Springfield's potential by trying to alter this program is even more misguided.



I want to see St. Louis succeed, and I believe a rising tide raises all ships. I get so sick of this Missouree vs. Missourah crap.



The good thing is that the Speaker of the House is from Joplin, a city that's just starting to benefit from this program, and he is generally supportive of keeping it in place. Keep the letters going, and keep your fingers crossed.

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PostApr 14, 2009#54

I've emailed Jo Ann Emerson and Governor Jay Nixon.



I've met Ms. Emerson. She's very nice and seems to generally be concerned for her constituents (like myself). I'm not sure if she'll actually read the email or be able to do anything, but I have more faith in her than really any other politician.



I emailed Jay Nixon. Again, not sure if it will do any good, but I figured it was worth a shot.

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PostApr 17, 2009#55

:lol: :lol:
How do you solve a problem like Jason?

St. Louis Business Journal - by Dave Drebes



What to do with the wicked Sen. Jason Crowell? By shades: brilliant, smart aleck, bored and alienated. Just like my brother, circa 1982. But unlike my parents, President Pro Tem Charlie Shields can’t ship Crowell off to boarding school for a few years to mature.



Whether it was beginning a filibuster by reading “The Shack,” losing his place, and starting again, or dropping a 10-pound amendment and asking it be read in its entirety, Crowell is the new problem child for the Republican majority.



At this writing, Crowell has successfully stalled AmerenUE’s attempt to repeal the Construction Works in Progress (CWIP) law to clear the way for a new nuclear power plant in Missouri, as well as the governor’s economic development (EcoDevo) bill.



Crowell has articulated principled opposition to portions of both CWIP and EcoDevo. He says he’ll let CWIP go through if Ameren’s proposed changes to the Public Service Commission process are dropped. And his list of demands to yield on EcoDevo include bringing the tax credit programs into the appropriations process and reining in the Missouri Development Finance Board.



Aside from his ability to knot up the Senate with floor tactics, Crowell’s opposition is particularly damaging for two reasons.



First, he’s not alone. Although he acts like a maverick, he has been joined by other Republican senators at various points in the battles. Two of them, Sens. Luann Ridgeway and Rob Mayer, have ties to former speaker Rod Jetton. Crowell himself is very good friends with Jetton, who’s working with aluminum giant Noranda to stop the CWIP legislation. That association has led some to question whether Crowell’s motivations are entirely pure.



Crowell is the leader of this “Jetton tribe” in the Senate, which appears to be evolving into an annoyance for the Republican majority for the foreseeable future.



The second reason Crowell is dangerous is that there’s already opposition to both measures from liberal senators. Sen. Joan Bray helped filibuster the CWIP legislation by questioning both the environmental impact of a nuclear plant and whether there were enough consumer protections against rate increases. Sen. Jeff Smith likewise filibustered the EcoDevo bill in an attempt to defend the status quo for the historic tax credit program, which has fueled a great deal of St. Louis city development.



By opening a second ideological front on these bills, Crowell is making the job of Sen. Kevin Engler, the majority floor leader, exponentially harder. For example, Crowell is threatening to filibuster the EcoDevo bill if tax credits are excluded from the appropriations. And Smith is making the same threat should tax credits be included. Where does Engler find a compromise position to move the bill forward?



This standoff likely won’t end in hugs. There are two ways to get Crowell to sit down. The first is the use of the procedural maneuver “calling the previous question” (PQ) to end debate. Most observers don’t think the Republican majority would use it on one of their own senators.



More likely, they will do to Crowell what they did to Sen. Matt Bartle a couple of years ago when he tried to stop an appointment. They’ll just keep the Senate in session all day and all night until he can no longer physically stand. Bartle lasted 13 hours. Crowell has some allies and might be able hold the floor longer, but eventually there are limits to human stamina.



Dave Drebes is publisher of the Missouri Scout, www.moscout.com, a private news service covering state politics.

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PostApr 17, 2009#56

^ You don't read other people's links do you?

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PostApr 17, 2009#57

Damn dog, so quick to judge. I posted the wrong article, and then went 5 rounds with CRITICAL ERROR message. :evil:



And to answer your question, of course I DON'T read everyone's links. BTW, why is your online status hidden?

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PostApr 17, 2009#58

Just trying to keep you honest.



I'm a bit :oops: as to the amount of time I spend on here - don't want to advertise it with the "currently logged in" stigma. Perhaps it's time to slow down!

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PostApr 17, 2009#59

I keep my web browser open all day, no need to be embarrassed. Sorry for "exposing" you.

PostApr 27, 2009#60


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PostApr 29, 2009#61

This story would not appear to help the cause of those supporting historic tax credits: http://www.stltoday.com/stltoday/news/s ... enDocument



Big Mo. developer funnels large sums through PACs

Money trail

By Tony Messenger

ST. LOUIS POST-DISPATCH

04/26/2009



JEFFERSON CITY — They have names such as "Advocacy for Special Needs," "Coalition for Disability Rights" and "Alliance for Elderly Health Care."



But the political action committees spending hundreds of thousands of dollars on campaign contributions to Missouri politicians don't have much to do with special needs, disabilities or health care.



They have everything to do with one of Missouri's biggest developers.



..........



At the same time, Smith is one of the state's biggest beneficiaries of government tax credits. Just this year, one of Smith's companies was given $6.7 million in tax credits, for a project in Columbia.



Since 2004, Smith's companies have been awarded at least $26 million for low-income housing projects in O'Fallon, St. Peters and Columbia.



Smith develops, builds and manages low-income housing complexes all over the country, including in the St. Louis area. The tax credits offer an incentive to build affordable housing, but Smith also profits by acting as a middleman in selling the tax credits for other projects. He is involved in buying and selling historic tax credits that have been instrumental in downtown redevelopment in St. Louis and Kansas City.

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PostMay 28, 2009#62

NEWS, MAY 22, 2009 | 05/23/2009



Historic Tax Credit Compromise: Lawmakers Find Common Ground



In the early hours of Friday, May 15, a compromise bill was crafted which struck middle ground between Missouri Senators who had spent months gridlocked over the historic tax credit issue and economic development. Senator Brad Lager (Maryville), who pushed for a cap and other limitations on the historic tax credit, said that the language achieves the necessary budget certainty, which he sought throughout session.



The compromise resulted in the following:



• A per-project residential cap of $1,000,000 in qualified rehabilitation expenditures (QREs) for owner occupied single-family homes;

• A small project exemption for projects with $1.1 million in qualified rehabilitation expenditures (QREs) (these do not count toward a cap);

• A $140 million cap on historic tax credits (existing projects do not fall under the cap); and

• An effective date of January 1, 2010.



Senator Smith (St. Louis) said, “We struck a compromise to protect the historic preservation program for years to come. The $140M cap is high enough to give lenders confidence that deals will go through. Delaying the effective date for the cap until next year will give many developers the time to line up financing and apply before caps take effect. Most importantly, the exemption I negotiated for smaller projects will ensure that rehabbers go to the front of the tax credit line and will never have to worry about a cap.”



more

MORE

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PostMay 28, 2009#63

So SCP would get tax credits for the Kiel Opera House before the cap is instituted?

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PostMar 22, 2013#64

Recently the Missouri Senate passed a bill that slashes Missouri's Historic Tax Credit Program to an annual cap of only $50 million. That represents only about 1/4 or a 1/3rd of what is issued in a typical year. The low cap will really slow down progress made in the last decade that's resulted in the rebirth of so many St. Louis (and KC) buildings and neighborhoods. The bill is now in the hands of the MO House, who could raise the $50 million cap. You can find / contact / tell to prioritize HTC's / your state rep here: http://www.house.mo.gov/

Here's just a few examples of what the tax credit has helped accomplish: http://mohtc.tumblr.com/

Here's an article I wrote for nextcity.org (sort of an east coast audience)

The HTC program works - it provides economic development and has done wonders for preservation efforts in Missouri. But there is more to do, and we need you to contact your state rep & the Governor's office and tell them that a $50 million cap is too low.

Scott Ogilvie
24th Ward Alderman

PostMar 27, 2013#65

Space Architecture, Pin-Up Bowling, and T-Rex are all hosting calling parties to State Legislators to support Historic Tax Credits this afternoon from 4 to 6pm. Here's the link.

There is a lot of talk about demolition and preservation on this board. HTC's are, by far, the number one tool that has prevented demolitions in the last 15 years. Tonight is a great chance to translate desire for preservation into action to save our best preservation program.

Scott Ogilvie
24th Ward Alderman

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PostMar 27, 2013#66

First, I'm 100% in support of the HTC for two reasons 1) I like to see buildings get saved and developed 2) I think that tax money generally gets wasted and lost in the blackhole of bureaucracy and it's better left in the hands of private individuals.

If you're a supporter of the HTC aren't you kinda sorta admitting that taxation (arguably prohibitive) is a hinderance to development and creativity and economic activity? Aren't we just another special interest lobby for lower taxes on something that we personally have an interest in? What about the people who are really into "widgets" and want lower taxes or tax credits for "widgets"?

Sorry for assuming that everyone reading this votes for tax-and-spend politicians but I must say it makes me happy to see people rally around the general idea that "taxes are bad".

I will do my part to support the Historic Tax Credit.

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PostMar 27, 2013#67

leeharveyawesome wrote:First, I'm 100% in support of the HTC for two reasons 1) I like to see buildings get saved and developed 2) I think that tax money generally gets wasted and lost in the blackhole of bureaucracy and it's better left in the hands of private individuals.

If you're a supporter of the HTC aren't you kinda sorta admitting that taxation (arguably prohibitive) is a hinderance to development and creativity and economic activity? Aren't we just another special interest lobby for lower taxes on something that we personally have an interest in? What about the people who are really into "widgets" and want lower taxes or tax credits for "widgets"?

Sorry for assuming that everyone reading this votes for tax-and-spend politicians but I must say it makes me happy to see people rally around the general idea that "taxes are bad".

I will do my part to support the Historic Tax Credit.

Those who recieve tax credits do not use the tax credit themselves, they sell the tax credits in an exchange for money that directly goes to financing, the tax credit exchange was about 80 cents to the dollar- no idea what it is today

Tax credits are sold to large companies to reduce their tax burden, they do not have any concern if the tax credits come from historic, new market etc...

Tax abatement reduces the developers property tax burden is issued by the local taxing authority, and is not related to historic tax credits

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PostMar 27, 2013#68

^ Well, there's no doubt I have a thing or two to learn about exactly how tax credits work but at the end of the day it's all about somebody reducing their tax burden which is great.

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PostJun 16, 2013#69


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PostJun 16, 2013#70

Rejoyce? Yikes.

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PostSep 06, 2013#71

good article today at the Post-Dispatch on Missouri tax credits.

http://www.stltoday.com/business/local/ ... 0e9fb.html

Basically the continuing economic troubles have kept the historic tax credit authorizations and redemptions down (the Cortex building accounted for almost $15 million of the total $93 million for HTC authorizations last year; actual redemptions fell by $55 million last year) while tax credits directly tied to verified quality jobs rose. Reading between the lines, it appears that there may not be as much of a push next year to bludgeon the HTC and low-income housing tax credits due to the fact that they've been having a more limited impact on the budget the past few years.

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PostDec 06, 2013#72

Might the 777X deal jeopardize the HTCs? It would really suck to not get any 777x work and take a huge hit on HTC and LIHTC caps

Stltoday.com - Nixon got Boeing through Senate by promising tax credit reform
Two senators involved in the talks said the governor promised he would use his leverage next year to persuade the House to pass a tax credit reform bill that has died the last four years.
http://www.stltoday.com/news/local/govt ... a3fe0.html

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PostDec 09, 2013#73

^It's possible, yes, but not imminent. The 777X progressed smoothly through the MO Senate when Nixon said he'd call for a review of MO's total economic development programs, which includes HTCs & LIHTCs. This appeased a group of Senators who consider themselves, perhaps, "purist capitalists", in that they philosophically don't want to favor any one group over the other or otherwise interfere with the hands-off practice of pure laissez-faire capitalism. ("Purist capitalists" being the best name I could think of for them besides "no-nothings")

What will this mean? Perhaps it will mean HTCs get further reviewed along with all MO tax credit programs, perhaps even TIFs and other fun acronyms. I'd think that, should this happen, we look to Scott Ogilve's original ideas in this thread and let our representatives in the General Assembly know where we stand and how we want them to vote.

Doing so, of course, only if the need arrives, which it hasn't yet. Nixon set up this Special Session consciously keeping any other economic development tools (read: tax credits) off the table for reform as he sought to pass the 777X credits.

This has been a long time coming... Personally, I think the General Assembly, in any review, will take a much more scrutinous look at Low Income Housing Tax Credits than State Historic Tax Credits.

Idea: Best way to counter the "purists" argument is by stating MO should invest in itself, and the State's businesses, if it wants to best compete with other states (IL, KS, etc.); that our country's federalist system means Missouri has to compete in a less-than-pure capitalist system or lose out to our fellow US states, let alone globally. Yup, pure unfettered capitalism only takes place today on the floors of commodity exchanges, and even that can be debated.

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PostMay 08, 2014#74

Anyone know where things stand on the HTC with the clock ticking down on this year's session?

PostDec 18, 2014#75

Interesting how Ohio does their state HTCs..... the general program awards HTCs upon departmental review and caps individual projects at $5 million; but the legislature also has now authorized a "catalytic award" of up to $25 million for a single selected project. Catalytic awards would be every other year.

http://www.cleveland.com/business/index ... ed_stories

There were four competitors for this year's award, and Cincy's Music Hall in Over-the-Rhine won out over two large proposed mixed-use redevelopments in downtown Cleveland and a redevelopment of Goodyear's old HQ in Akron. Downtown Cleveland did get two $5 million awards: a Drury Hotel project and this nifty, UnionTrust-esque building for mixed-use


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