University City admits math error in Olive/I-170 development

More money to St. Louis County, less to University City

Alex Degman
February 12, 2019 - 8:20 am

Photo supplied/University City

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UNIVERSITY CITY, Mo. (KMOX) — University City leaders say they take responsibility for a math error that led to confusion about a proposed development at Olive and I-170.

The error misclassified the type of municipality University City is. This now means most of the revenue generated from the development would go to St. Louis County, not University City. The math mistake meant documents were off by tens of millions of dollars.

City manager Gregory Rose explains what that means.

"The error has no impact on the amount of money that other tax districts would receive from the project, has no impact on three of the sales taxes that the city would receive...it does lessen the money that would be available for repayment of any TIF notes or TIF bonds."

Rose says they hired PGAV to do the analysis and they messed up, not the city.

"Experts...you hire them because you believe they know more than you do about a subject matter," Rose asserted during Monday night's meeting.

That didn't sit well with resident Sonya Pointer.

"Just trying to pass this off. This comes from the top down, not the people at the bottom. Stop it."

Rose did say the mistake is ultimately the city's responsibility.

The city says the proposal would put a major development near Olive and I-170 while also improving Third Ward neighborhoods and revitalizing the existing commercial corridor on Olive.

There's still no word on when a revised plan could make it to a vote. The agreement is still under negotiation.