"ICL now plans to record a write-off of assets totaling about $40 M in its financial statements next quarter."
The #PIEAstl must rescind the real estate & personal property tax abatements for the #5401W3rd site.
PIEA's basis for authorizing the tax abatements was dubious at best. #EndSubsidySecrecy
Screen capture image of SLDC YouTube channel videos, taken at 9:55 am on Monday, July 28, 2025. The videos of the LCRA and PIEA board meetings held on July 22 were posted for public view at approximately 9 a.m. today. (7.28.25)
Screen capture image taken at 7:42 a.m. on Monday, July 28 showing the playlists of SLDC-staffed development boards. Note that the PUEA, LCRA & LDC playlists were updated after the respective boards met on July 22 & 24. This indicates that the meeting videos were uploaded to YouTube but intentionally hidden from public view. See next post in thread for more details
6 days after the #LCRAstl & #PIEAstl board meetings were held via Zoom, the meeting videos were posted on SLDC YouTube today at 9 a m.
See ALT for details of the delay in making the videos public.
SLDC channel, “Develop St Louis”
youtube.com/@developstlo...
#TransparencyFail
#SunshineSLDC
5:37p.m. Friday, July 25.
#TransparencyFail update:
SLDC still hasn’t made the videos of the #LCRAstl #PIEAstl & #LDCstl board meetings available for public viewing on YouTube.
Immediacy is key for the media and public.
Opacity is the true core value of the St. Louis Development Corporation.
Reminder that SLDC, despite claiming that transparency is a"core value," delays the release of video recordings of board meetings.
The #LCRAstl & #PIEAstl boards met via Zoom on 7/22.
The videos were uploaded on 7/23, but remain hidden.
I expect the videos will be made public at 9 a.m. on 7/25.
Hey @developstlouis.bsky.social , you can't start the meeting until the public has been given access to the Zoom.
Up 1st: Sister board PIEA: tinyurl.com/yh8jj5cm
Breaking: #PIEAstl may be going out of business in 2 or 3 years. The PIEA has played a key role in the bailout of GreenStreet.
Tuesday’s City of St. Louis #LCRAstl board agenda should post before 6 p.m. today.
The #PIEASTL board agenda has already been posted (image 3)
www.stlouis-mo.gov/events/event...
Videos were made public on SLDC YouTube today for the following board meetings held on May 13:
#LCRAstl #PIEAstl #EEZstl
www.youtube.com/@DevelopStLo...
All 3 boards approved the appointment of Otis Williams as Executive Director.
#TransparencyChallenge Make public the CEDB & SLDC board videos.
Agenda packets posted for special meetings of three SLDC-staffed boards on May 13.
#LCRAstl #PIEAstl #EEZstl
Each board agenda includes a resolution to appoint Otis Williams as executive director, secretary & signatory for the board.
Meeting calendar for SLDC:
www.stlouis-mo.gov/government/d...
Videos of the #LCRAstl & #PIEAstl board meetings held on 12/17 were posted on YouTube today:
www.youtube.com/@DevelopStLo...
See "board meeting materials" webpage for the agenda packets, which includes the project resolutions. tinyurl.com/4xf67yzn
At LCRA, item 4 was not taken up (JVL sites) .
The #PIEAstl board convened after LCRA wrapped up its meeting with a closed session.
There was some discussion on the resolution, but developer GreenStreet wasn’t mentioned. Resolution approved unanimously.
Never mind the fact GreenStreet owes the City of St. Louis over $1.5 M in property taxes.
Speaking of #ConflictsOfInterestSTL
Why does the City of St. Louis permit the owner and representatives of a developer GreenStreet to control at least 6 local taxing districts, when GS owes the City over $1.5 M in delinquent.
Today the #PIEAstl board considers another resolution to benefit GS.
/4
#SLDCbreaking
Agenda posted for #PIEAstl board meeting on 12/17.
Wonky collateral resolution.
Relates to construction of ICL battery plant.
Translation: it’s a bailout for the unnamed “developer”, which is GreenStreet.
SLDC wishes happy holidays to #deadbeatdeveloper of 2024.
The Carrie Avenue TIF District is labelled on the "TIF Districts in the City of St. Louis" map, which is available online: https://tinyurl.com/4dmkr6v6
Screenshot from the City of St. Louis "Boards and Commissions" website, showing the board membership of the Carrie Avenue Community Improvement District. The website may not be up to date. https://tinyurl.com/4bte3t4e
Screenshot of map showing Local Taxing Districts in the City of St. Louis. The Carrie Avenue Community Improvement District is labelled, with the boundary of the district shown in light blue. Link to Local Taxing Districts map: https://tinyurl.com/2rpwzsch
Undisclosed at the 11/19 #PIEAstl meeting:
The property for the ICL plant is located within the boundaries of the Carrie Avenue TIF district & the Carrie Ave CID.
There needs to be a standard list of disclosures required for each project resolution considered by development boards staffed by SLDC.
The SLDC pulled a fast one at the Nov. 19 meeting of the #PIEAstl board. The $8.2 Million in tax abatements approved by PIEA for the new ICL battery plant were predicated on a 2008 ordinance. Bypassing the Board of Aldermen and dodging the 2023 protocol for review by St. Louis Public Schools.
Video of 11/19 #PIEAstl board:
youtu.be/0S9UJldGTHk?...
Previously SLDC has used two meetings to authorize bond issuances. Seems to me SLDC wanted to ram the ICL battery plant through & minimize public scrutiny. Res. 499 wasn’t posted prior to the meeting; I obtained it via #SunshineSLDC request.
Page 1 of Planned Industrial Expansion Authority Resolution 24-PIEA-499
Resolution 499 was approved at the 11/19 meeting of the #PIEAstl board. SLDC relied on an ordinance approved in 2008 to authorize the 15 real estate tax abatement for ICL.
PIEA also authorized 10 year personal property tax abatement. I think the Board of #EandA may have to approve the bond issuance.
Missouri Coalition for the Environment raises concerns about the recently announced new ICL battery plant in North St. Louis.
SLDC is unperturbed; its #PIEAstl board approved $8M+ in tax breaks for ICL.
No approval from the Board of Aldermen is necessary.😔
www.firstalert4.com/2024/11/27/m...
Screenshot of the Zoom screen of the PIEA board meeting held on 11.19.24. The “ICL Battery project” was approved for a tax incentive package with a Net Present Value of $8.2 Million.
Keep an eye on the SLDC YouTube channel for the posting of the Nov. 19 #LCRAstl & #PIEAstl board meeting videos.
Usually meetings are posted on or before the third business day after the meeting.
The video of the 11.19.24 Planned Industrial Expansion Authority board meeting should be posted on SLDC's Youtube channel by Friday.
See @developstlouis playlist of #PIEAstl meetings: www.youtube.com/playlist?lis...
SLDC has yet to join 🦋, but I suspect it will do so and use the same handle.
/3
Correction to my quoted post about today's #PIEAstl board.
ICL is purchasing the site from GreenStreet
Res. 499 was not posted in advance of the meeting, nor was notice given to the public regarding the submittal of written comment.
See image for my hasty email to the PIEA.
ALT contains full text.
Notice for today's 3 p.m. #PIEAstl meeting:
www.stlouis-mo.gov/events/event...
#DeadbeatDeveloper GreenStreet controls at least 6 taxing districts.
The Carrie Ave CID includes the 5401 W. 3rd property in today's Resolution 24-PIEA-499.
Map of #TaxingDistrictsSTL: tinyurl.com/2rpwzsch
/2
The #PIEAstl meets today at 3 p.m. via Zoom.
Did SLDC notify Ald.Tyus?
Always ask: Who Benefits?
Bonds for tenant; no BOA approval needed.
Property owner is affiliate of GreenStreet.
Per City website, GS owe over $1.6 MILLION in real estate taxes on two properties: #4565McRee & #3728Market
/1
