ST. LOUIS (KMOX) - There will be no TIF Commission hearing Wednesday on the redevelopment of Crestwood Mall.
A Facebook post on the City of Crestwood's website shared a letter to the TIF Commission, in which Dierbergs noted they are “excited about and committed to our Proposal, and we look forward to building on the great work that the City, the TIF Commission and their representatives have done to date."
Dierbergs intends to continue its redevelopment project using the Tax Increment Financing District that was created in 2016.
This means “the City of Crestwood, Lindbergh School District and other taxing districts will realize full tax revenue more than five (5) years earlier than anticipated.”
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City Administrator Kris Simpson stated, “We look forward to continue working with Dierbergs to make their portion of this project a reality and bring new life to the former Crestwood Mall site.”
Simpson says, the co-developer for the remainder of the project, McBride Homes, will not require a TIF on their portion of the development (approximately 22.5 acres).
KMOX has reached out to the Crestwood City administrator and are waiting to hear back.
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