We don't have to wonder what they're talking about.
Photo: former Washington University employee Alder Browning counting votes for his proposals for incentives to Washington University project already under construction. #ButForFail
#TransparencyFail No Way To Run A Govt #395383
Tomorrow is a line in the sand vote by St. Louis Alders on corporate welfare for Wash U's sketchy #ButForFail latest Cortex development
Filing for odd number wards St. Louis Alder candidates ends January 3rd
www.stlouis-mo.gov/government/d...
No one on HUDZ asked SLDC the "But For" test, possibly because the committee members knew it would put SLDC, Cortex, Wash U. and themselves is a tricky position of acknowledging the fact construction is well underway.
#ButForFAIL
I hope the HUDZ Committee can be honest and agree that the $4 Million in TIF assistance on the table today is not an incentive for Wash U.'s #4140ForestPark project.
Site photo taken today.
#ButForFAIL #CortexTIF #TellusTheTruth
Corporate Welfare 🚨
11 am Today is BOA HUDZ Hearing on Wash U #ButForFail Cortex project, making St. Louis Public School kids pay for yet another development. This one is well underway. Call this by proper name- a gift from Alders, not an incentive. See @gconnolly314.bsky.social for details. ⬇️
Video of Nov. 13 TIF Commission meeting. #CortexTIF
1 hour, 25 minutes.
Project proposal for: #4140ForestPark renovation of former Goodwill building & adjacent new construction.
Url to 32:50. Start of Qs from TIF Commissioners after presentation by Cortex.
youtu.be/uCfp6xr-XWI?...
#ButForFAIL
Screenshot from the "TIF 101" guide, produced by lawyers with Gilmore Bell in 2009. The text reads: What is the “but for” test? The “but for” test is an inquiry into whether the property would be redeveloped without TIF assistance – but for the approval of TIF, the redevelopment would not occur. More formally, the TIF Act requires a finding by the municipal governing body that the redevelopment area “has not been subject to growth and development through investment by private enterprise and would not reasonably be anticipated to be developed without the adoption of tax increment financing.” In most instances, this is demonstrated by a developer providing sufficient evidence that the developer is unable to make a reasonable rate of return on investment if required to bear all costs associated with redeveloping the property. A developer is required to sign an affidavit to this effect.
Gilmore Bell lawyers explained the "but for" test in a 2009 "TIF 101" guide:
The “but for” test is an inquiry into whether the property would be redeveloped without TIF assistance – but for the approval of TIF, the redevelopment would not occur
www.gilmorebell.com/TIF_101_Part...
page 3 #ButForFAIL
This #ButForFail should be rejected by St. Louis Board of Alders. This isn't an incentive to build. Construction is well underway. Instead, it's a gift, paid by public school kids, to Washington University, a nonprofit private school with a $13 Billion endowment.
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
"It seemed to me that the TIF funds were appearing more like developer slush funds for the city to use to direct development than actually helping to rectify a blighted area that wasn't going to be developed otherwise," Keathley said.
Who'll blow the whistle on the #ButForFAIL of the #CortexTIF?
#ButForFail This Wash U project is happening w/o incentives and doesn't need incentives to finish. Public school kids should not be funding it.
Why aren't St. Louis School Board and American Federation of Teachers active on tax abatements? Why should we care about tax abatement when they don't?
