This thread needs a dose of Bonwich.
Fair enough. If the latter is the litigant's basis for this case, then they very likely lose. Why? It doesn't appear they have proven that the TIF process itself was not followed. All they have proven is that an economics professor paid $500 by the litigants stated that the TIF projections were overly optimistic.lukethedrifter wrote:If the trial is strictly over whether the city followed proper procedure then you are correct. If the suit has to do with whether unrealistic numbers were used to justify the tax incentives then the Prof's point are relevant.
Edit: I just read the RFT article which describes the litigant's position in detail. They no doubt are high on emotion and opinion, but have nonetheless failed to outline how their position meets the burden of proof.
Just imagine...the judge repeals the TIF because the litigation opines that the development area isn't blighted. Good luck with that, legal beagles.
At one point in the RFT article you have a reporter quoting a blogger interpreting a columnist.
- 11K
$500/hr. $8,000 so far...innov8ion wrote:All they have proven is that an economics professor paid $500 by the litigants stated the TIF projections were overly optimistic.
^I would like to offer myself as an expert witness. I know what I am talking about and I am willing to work for only $400 an hour.
- 3,433
Is this the alternative to the McEagle plan for North St. Louis?
Detroit wants to save itself by shrinking
DETROIT — Detroit, the very symbol of American industrial might for most of the 20th century, is drawing up a radical renewal plan that calls for turning large swaths of this now-blighted, rusted-out city back into the fields and farmland that existed before the automobile.
http://www.google.com/hostednews/ap/art ... gD9EAMQFO3
Detroit wants to save itself by shrinking
DETROIT — Detroit, the very symbol of American industrial might for most of the 20th century, is drawing up a radical renewal plan that calls for turning large swaths of this now-blighted, rusted-out city back into the fields and farmland that existed before the automobile.
http://www.google.com/hostednews/ap/art ... gD9EAMQFO3
This "mothballing" concept could be worth considering if financial conditions worsen.Gary Kreie wrote:Is this the alternative to the McEagle plan for North St. Louis?
Detroit wants to save itself by shrinking
DETROIT — Detroit, the very symbol of American industrial might for most of the 20th century, is drawing up a radical renewal plan that calls for turning large swaths of this now-blighted, rusted-out city back into the fields and farmland that existed before the automobile.
http://www.google.com/hostednews/ap/art ... gD9EAMQFO3
- 11K
Can you imagine if the plan for North St. Louis was to grow crops or return it to a natural state...now that would be abandonment of current residents and businesses. If you think people don't like the McKee plan, you would love the reaction to something like this.
The city is going to have serious funding issues without a pretty significant influx of population or additional development which will only foster the same thinking. A good compromise in my mind is too get phase I & II under a TIF since any hope of stimulus funds went out the door after the TIGER Grants were awarded. A rebuilt 22nd Interchange that gets the street grid back and redeveloping the area around a new Mississippi River Bridge landing just makes too much sense. Couple this with the removal of I-70 downtown and you have tremendous developable space with great access. I picture a new Wells Fargo tower on one end of Gateway Mall, new condos/apartments along a new memorial blvd accross the Arch Grounds and a new casino at the foot of the new MRB (If Pinnacle/McKee would put a competing proposal to counter against the North County). As far as the rest, stakeholders and developers alike will benefit if we can bring in jobs, especially from out side the region.
- 284
Did anybody make it to McKee's talk to Focus St. Louis the other day? Anything new?
One of the lawsuits against McEagle has been dismissed:
http://www.stltoday.com/stltoday/busine ... enDocument
http://www.stltoday.com/stltoday/busine ... enDocument
RT @tlwriter BREAKING: Judge tosses McKee's $390 mill NorthSide TIF. Says city overreached. Full plan would take "a miracle" ...
A St. Louis judge Friday morning dealt a major blow to developer Paul McKee's $8.1 billion NorthSide redevelopment proposal, when he threw out a key city ordinance that was to help finance the deal.
Circuit Judge Robert Dierker voided the $390 million tax increment financing package approved last fall by city aldermen, saying, essentially, that they based their vote on too little firm evidence that the project can be achieved.
Specifically, Dierker wrote, declaring 1,100 acres of the city blighted “in one fell swoop” on behalf of what, at this point, is such a speculative project, violates the statutes that govern TIF. So he ruled in favor of the three local residents who filed suit against the TIF.
Read more here: http://bit.ly/aA6jzD
Interesting ruling with the complete reversal of the legislative action rather than a simple remand for a reconsideration with additional information.
I dont like TIF but the judge appears to have ruled based on his own feelings for the development and not based on its legality.
project could be done much beter, but the people protesting this live in a suburban style subdivision, not the kind of development the city needs, and I believe these people are just those among st. louis who yell about how nothing ever changes and then protest change when it might occur.
project could be done much beter, but the people protesting this live in a suburban style subdivision, not the kind of development the city needs, and I believe these people are just those among st. louis who yell about how nothing ever changes and then protest change when it might occur.
- 712
This year?ttricamo wrote:Clearly, this isn't the last of McKee and the Northside Project.
- 1,642
Well, if this controversial plan is shot down the City can move forward with the OTHER plan to improve North St. Louis.
NOTE: There isn't another plan but I'd start by cracking down on people who throw garbage out of moving car windows.
NOTE: There isn't another plan but I'd start by cracking down on people who throw garbage out of moving car windows.
- 712
The possibility was mentioned of the city breaking it down into many smaller TIF proposals for specific projects, but that that might take a long time as the aldermen would have to devote a lot of manhours to it.