Downtown STL, baby.
Home to a kick-ass library. The best BBQ in the world. An iconic piece of architecture that’s soon to get the grounds it deserves.
And of course, the new(ish) Ballpark Village. Which proves that STL people will actually hang around downtown and spend money if you give them a place to hang around downtown and spend money.
Downtown STL Inc., has proposed that the core business district could use a push to develop beyond Busch Stadium and the blocks immediately surrounding it.
You know, make downtown better. All good, right?
Somebody’s got to pay for it, though.
Downtown STL Inc. has decided that a sales tax is the best way forward. Their argument? That a .5 cent sales tax would generate about 32 million dollars over the next decade to fund things like sidewalks and lighting downtown. They note that the STL sales tax rate is 8.679%, ranking 25th amongst large US cities.
BUUUUUTTTT…
The city does have ‘special taxing districts’, including one that’s working on downtown improvements. It’s called CID (Community Improvement District). And the CID, according to the STLBJ, got 1.84M last fiscal year and will generate more than 3M in fiscal ’16. Mostly through property assessments.
Oh, and Downtown STL Inc.? It’s funded through the CID.
The Cardinals have made it clear what their stance on the situation is:
“We support the goals behind the effort, but are opposed to an additional sales tax as the source of funding,” Ron Watermon, Cardinals spokesman, said. “We have been in discussion with downtown stakeholders, including Downtown STL, on other approaches that would bring the entire downtown business community together to help the city address some of its public safety and infrastructure issues.”
Essentially, they’re watching the people watching their money. Ballpark Village is one of the biggest pure revenue generators that STL has created in the past decade.
We’ll refrain from taking a stance on the situation either way…
But it’s worth noting how politicians and civic leaders are taking note of the new business that BPV is producing and they’re trying to get creative on how to get a piece of the action.
This might be the first attempt to get some of that cash. This won’t be the last attempt to get some of that cash.
Photo: Forbes
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