The state historic tax credit is one of the most valuable tools we have to attract reinvestment in the City of St. Louis. It is responsible for hundreds of millions of dollars of private investment. It has breathed life into the City’s store of vacant or underused historic buildings. Losing a useful historic tax credit program would be a serious setback for us.
State legislative leaders and Governor Nixon want an Economic Development bill. So do I. But, the bill should represent a step forward into the future, not a giant step backwards. If the Economic Development bill guts the tax credit program, the City will have no choice but to oppose the bill.