CRESTWOOD, Mo. (KMOX) - Next week, the TIF commission votes on a subsidy package to redevelop Crestwood Mall. Dierbergs is asking for $17 million, with $3.5 million used for a community improvement district, which would be an extra sales tax for the retail development.
The Show Me Institute's David Stokes says the proposed residential developer for the site is not asking for a subsidy.
"Really just goes to show that you don't need the subsidy in this development, if you can do the residential component without a subsidy I think you can do the entire thing without a subsidy," he says. "This is the problem we have seen throughout St. Louis County, St. Louis City and the St. Louis region for the last 30 years."
Dierberg's says without the subsidy it wouldn't consider the project. The TIF Commission is set to meet on Dierberg's request next Thursday.
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