Laclede Gas relocating tax break causing controversy
ST. LOUIS, MO (KTVI)– We`ve all heard about corporations getting tax breaks to relocate their headquarters.
This one involves Laclede Gas’s proposal to move from its corporate headquarters building at 8th and Olive to the abandoned General American building a 7th and Market, four blocks away.
The city’s TIF commissions okayed giving the developer, the Koman Company, over $8 million in tax increment financing for the re-location.
The city board of aldermen vote on whether to okay the over $8 million TIF on November 20th.
The city argues the money is not for Laclede, but for the developer to re-hab the long-vacant Market Street building. But everyone admits the TIF and the move won’t create any new jobs, but will just move existing jobs.
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