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Comptroller Says City Tax Breaks are "Out of Balance"

July 11, 2018 - 8:30 am

ST. LOUIS (KMOX) - Calling the city's tax breaks for developers "out of balance," City Comptroller Darlene Green saying it's time to "turn off the spigot" of tax increment financing for developers in parts of the city that are thriving.

“On the Central West End we need to turn that spigot off, and in other areas that I consider market rate we need to turn the spigot off when it comes to economic development incentives because now the market has been developing those areas so that people who want to develop there should come without asking for handouts,” she says.  

Green says the $65 million Ballpark Village tax breaks, approved years ago, may have been needed at the time, but she blames the city's recent credit rating downgrades on too many tax breaks at the expense of city revenue.

“We are absolutely out of balance in giving too many tax breaks. What I think we need to do is focus on the areas in our city that need it the most,” she says.