A tax district proposed for the Covenant Blu-Grand Center and Midtown neighborhoods is moving forward after St. Louis’ Tax Increment Financing Commission agreed to advance the idea to a public hearing scheduled for August.
The Kranzberg Arts Foundation is spearheading the application for the Midtown Public Infrastructure Redevelopment Area, approximately 111 acres bounded by Theresa Avenue, Delmar Boulevard, Jefferson Avenue, and Olive Street. Backers are seeking $39.5 million in tax dollars to support public infrastructure improvements over the proposed 23-year life of the district.
During a presentation to the TIF commission Wednesday morning, Kranzberg Arts Foundation executive director Chris Hansen explained the organization was seeking to create the district after having spent its own resources to maintain momentum in the area. The two neighborhoods need so much investment in public infrastructure, he says, that the nonprofit arts organization needed to consider other ways to fund improvements…