Wednesday, June 6, 2012
St. Charles City Council members approved a $9.6 million tax increment financing package for the 31.5 acre development anchored by Schnucks.
St. Charles City Council approved a $9.6 million tax increment financing package for a 31.5 acre development anchored by a Schnucks across from Lindenwood University. The development, which is a joint project between Desco and Lindenwood University, will include several retail sites, restaurants, a hotel and room for relocation of the United States Post Office. The council approved the TIF on a 9-1 vote with Councilman Tom Besselman, Ward-2, casting the lone dissenting vote. "The project is going to be great, but I think it was going to be done without a TIF," Besselman said. "That's awfully expensive land for dorms. It's a prime location." For more news about St. Charles, sign up for our newsletter or follow us on Facebook. The $9.6 …
Thursday, November 10, 2011
St. Charles City Council would need seven votes to override commission's decision.
The Lindenwood Town Center project hit a stumbling block Thursday. The Tax Increment Financing (TIF) Commission voted 8-4 to recommend that the St. Charles City Council not approve a $9.6 million TIF agreement as part of a redevelopment plan for that area. Now the TIF agreement would need approval from seven members of the St. Charles City Council or a super majority. The Desco Group said the financing mechanism was crucial part of the multi-use development that will be anchored by a grocery store and will include retail and a hotel. The U.S. Post Office located next to SSM St. Joseph Health Center is expected to move to the development, freeing up space for the hospital to expand. Mayor Sally Faith said the council would consider the …
Friday, October 21, 2011
The commission wants more information from the Desco Group about its request for millions to fund the project in St. Charles.
The Desco Group is hoping to qualify for $9.6 million in Tax Increment Financing (TIF) through the city of St. Charles. Thursday night the TIF commission had questions about the developer's plans for an area across from Lindenwood University. The Lindenwood Town Center project would replace blighted homes and stores and could feature a Schnucks, new post office, restaurant, and other businesses. Lindenwood University owns the property. The Question of Blight According to MissouriDevelopment.org, TIF allows a portion of local property and sales taxes to fund redevelopment of property classified as a "blighted." The blight analysis conducted by the consultant Development Strategies determined that more than 95 percent of the buildings …
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St. Charles City Hall
200 N 2nd St, Saint Charles, MO
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Lindenwood University
209 S Kingshighway St, Saint Charles, MO
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SSM St. Joseph Health Center
300 1st Capitol Dr, Saint Charles, MO
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United States Post Office
112 S 5th St, Saint Charles, MO
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Wednesday, October 19, 2011
Second commission meeting is set for Oct. 20. A public hearing is scheduled for Nov. 3.
Developers of the proposed Lindenwood Town Center hope to answer any questions that TIF commission members might have on Thursday as the group considers the Desco Group's request for a $9.6 million TIF for the project. The TIF commission comprises representatives from the various taxing authorities. The commission met for the first time Sept. 15 to organize and hear the Desco Group's initial presentation about the project. The group will meet again at 6:30 p.m. Oct. 20 at St. Charles City Council chambers to ask more questions of the developer and the city. "We'll have at the next meeting open and free dialogue," TIF Commission Chairman Edward Katchter said in September. "It'll be a good time--we're all friends, it's a good cause but it's …
Thursday, September 15, 2011
Meeting is set for 6:30 p.m. at St. Charles City Hall.
A Tax Increment Financing Commission will meet Thursday Sept. 15 at St. Charles City Hall to discuss a proposed TIF for Lindenwood Town Center, a mixed-use project planned in the heart of St. Charles. The meeting is scheduled for 6:30 p.m. in City Council chambers. The proposed town center is expected to include a grocery store, relocated post office, drive thru restaurant and eventually, student housing for Lindenwood University. Mark Grimm, an attorney with Gilmore & Bell and a city consultant on the project is expected to explain the tax increment financing and the role of the commission. Scott Sachtleben, vice president of development for the DESCO Group, will give a presentation on the proposed redevelopment project. Larry Marks with …
Wednesday, August 10, 2011
St. Charles City Council convenes Tax Increment Financing Commission.
St. Charles City Council took the first steps toward considering a tax subsidy for Lindenwood Town Centre, a multi-use development located across from the university that will be anchored by a grocery store and student housing. In June, the council approved rezoning for the 31.5-acre property. Now, the project's developer, the DESCO Group, is seeking tax increment financing (TIF) for commercial portion of the $69 million project. TIF financing uses future taxes to pay for capitol improvements in the redevelopment area. David Leezer, director of economic development for St. Charles, said the city is still negotiating an incentive package with the DESCO Group. He said the package will be nowhere near the size of the $55 million TIF package …
Thursday, June 9, 2011
St. Charles City and SSM St. Joseph Health Center host public meetings.
St. Charles is asking community members and business owners to help envision a plan for the future of Fifth Street and the area surrounding SSM St. Joseph Health Center. The city and SSM are hosting a series of public planning and design meetings to get input on a future plan for the area. The first meeting will be from 6 to 8 p.m. tonight in the fellowship hall of St. John United Church of Christ. More meetings are scheduled during between June 20-23. “The meetings will be designed to get input from people, to tell us what you’d like to see done,” said Bruce Evans, director of community development. “People will be asked to identify where they live and they’ll be given a chance to say, ‘I’d like to see more delis, I’d like to see more …
Agustus Brandenburger
2:37 pm on Wednesday, September 5, 2012
And DESCO is a key to this development - so no Dave, it wont be "just dorms". more ›