Washington University should be ashamed! One of its numerous for-profit subsidies is appealing the assessment for #4140ForestPark
See my previous coverage of the project at:
#CortexTIF
#BOAbb139
#BOAbb140
Today’s construction 🏗️ gallery from Washington University’s #4140ForestPark project.
Details on the equipment for C2N Diagnostics that is to receive a personal tax abatement have not been disclosed.
The specific use of the new 4 story addition is not known to me.
#CortexTIF #BOAbb139 #BOAbb140
Construction 🏗️ photos taken at 10:45 a.m. today at Washington University’s redevelopment of the former Goodwill property at #4140ForestPark.
The tax incentive bills have a final hurdle to clear: final vote at the 1/10 BOA meeting.
E & A approved #BOAbb139 & #BOAbb140 on 12/18.
#CortexTIF
#EandA Agenda & exhibits are posted for today’s 2 p.m. meeting.
tinyurl.com/mvzrskn8
The City of St. Louis gov system results in odd scenarios, such as #BOAbb139 & #BOAbb140 being on the E & A agenda for approval prior to the final BOA vote, which will likely be on Jan. 10th.
#CortexTIF
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At some point this week, the following briefing was uploaded to the webpage for #BOABB139
Did the BOA have this available to them today & at HUDZ. Obviously reviewed by a lawyer; doc deftly fails to provide clarity on the personal property tax abatement, worth $988K to C2N & maybe WashU’s 4140ML LLC
#BOAbb139 voted down at perfection, 5 ayes - 7 nays.
See pg 12: “… the bonds “facilitate abatement of ad valorem personal taxes on personal taxes on the below-defined Project Equipment & a sales & use tax tax exemption on construction materials purchased to construct…..Project Improvements”
This is super important for the BOA's debate of the #CortexTIF legislation.
Quoted thread starts on 11/27, the day that #BOAbb139 for the tax breaks for Wash U's tenant at 4140 Forest Park. BB139 names C2N Diagnostics; 2 weeks before HUDZ, when SLDC first used C2N's name.
🔥 Contact your aldersperson & PBOA Green ASAP about the #CortexTIF
legislation.
Vote No on #BOAbb139 #BOAbb140 & Res. 203
Correction: during discussion of #BOAbb139, Ald. Cohn did
ask about the "But for" Test. SLDC let Cortex take 1st crack at Cohn's Q about the "But For" test, answering the Q from the tenant's perspective. The "But For" test wasn't addressed in BB 140 for the TIF, where it is a statutory requirement.
Is it fair to say that the TIF Commission was deceived by Cortex, SLDC & Alderman Browning at the November 13 meeting? All three failed to disclose to the TIF Commissioners that additional City tax breaks for the then unnamed tenant had been negotiated.
#BOAbb139 #BOAbb140
#CortexTIF #ItsAracket
How on earth is the public supposed to comment in an informed way on #BOAbb139, when SLDC's Developer Proposal Report is not available to us?
The SLDC report was delivered to the members of the #HUDZ Committee at 10:47 a.m. TODAY, per Ald. Aldridge.
13 minutes prior to the start of the hearing.
Testify on the #CortexTIF bills at the 11 a.m., Dec. 10 #HUDZ Committee hearing at City Hall or Zoom.
Details: tinyurl.com/364x6jfx
#BOAbb140 $4 M TIF
#BOAbb139 Tax abatement
Submit written testimony to: boameetings@stlouis-mo.gov
Emails for HUDZ alders: tinyurl.com/yc6jyvyb
#ButForFAIL #CortexTIF
Only 3 days until the Dec. 10 Public Hearing by the Board of Aldermen #HUDZ Committee on two bills & one resolution for the #CortexTIF project currently under construction at 4140 Forest Park Ave.
#BOAbb139 #BOAbb140 #Res203
The big question: Who benefits from the $4 M TIF allocation?#CortexFacts
Just posted!
#BOAbb140 & #Res203 for the #CortexTIF project at #4140ForestPark were added today to the 11 a.m. Dec. 10 #HUDZ Public Hearing agenda.
#BOAbb139 was already on agenda.
BB140 will be introduced at BOA tomorrow.
Construction 🏗️ is well underway, despite Cortex’s claim at a TIFC meeting
Screenshot of meeting notice for the 12.10.24 Public Hearing on Board Bill no. 139 by the HUDZ Committee of the Board of Aldermen. Link to the meeting notice is in the text of the post.
Construction work at the 4140 Forest Park Ave site. Photo taken on 11.19.24 - three days before the introduction of legislation from the floor of the Board of Aldermen to facilitate incentives for C2N Diagnostics.
Let your voice be heard on the incentives for the #4140ForestPark project!
#HUDZ Public Hearing on Dec. 10 at 11 a.m.
tinyurl.com/3uxbrpm8
#BOAbb139 Personal property tax abatement for C2N Diagnostics & sales tax exemption.
#BOAres203 is not on the agenda, as of 4:40 p.m. today. #CortexTIF
Page 2 of BB 139 (page 3 of PDF). Lines 11 through 15 are highlighted in blue. Defines terms and parties involved in the development project.
Page 10 of the PDF of BB 139; this is the first page of "Exhibit A"
Screenshot of post on X by @gconnolly314. Date of post: 11.13.24. Text of post: If there's any doubt that the tenant won't sign with Wash U or that the TIFC, BOA, E & A won't approve the #4140ForestPark project, why has Wash U's development entity started construction? The term "limited scope" is misleading - at best. #CortexTIF #CortexFacts Photograph in post shows the construction site at 4140 Forest Park. The photo was taken on 11.11.24.
#BOAbb139: $36 M bond issuance to facilitate tax exemptions on personal property & construction materials for #4140ForestPark
Tax breaks in BB 139 are valued at $988KBeneficiaries: C2N Diagnostics & possibly a Wash U. affiliate.
#BOAres203: approves the Detailed Project Proposal.
#CortexTIF
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Board Bill No. 139. Bill summary on the Board of Aldermen website. Link to BB 139: https://www.stlouis-mo.gov/government/city-laws/upload/legislative/boardbills/introduced/BB139%20Combined1.pdf
Pages 1 and 2 of Board of Aldermen Resolution no. 203 for the 4140 Forest Park project in Redevelopment Project Area (RPA) 4 of the Cortex TIF district. The full resolution is posted on the BOA website: https://www.stlouis-mo.gov/government/city-laws/upload/legislative/resolutions/introduced/Res203%20Combined.pdf
Page 5 of resolution 203
#CortexTIF breaking:
The legislation for the #4140ForestPark project was posted on the BOA website this morning.
#BOAbb139 & #BOAres203 were introduced by Alderman Michael Browning on Nov. 22.
The Public Hearing by the #HUDZ Committee has yet to be scheduled.
See ALT links to bill & resolution.
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If you followed my posts on X, you'll know I'm not a fan of the BOA rules being suspended in order to introduce legislation from the floor.
Today Ald. Browning introduced #BOAbb139* & #BOAres203 from the floor; both were referred to #HUDZ
*Taxable Industrial Revenue Bonds for up to $37M.
