McKee testifies in front of House panel
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McKee testifies in front of House panel

Date: February 12, 2013
By: Matt Evans
State Capitol Bureau
Links: HB 423

Intro: 
St. Louis Developer Paul Mckee told the House Economic Development committee he needs an extension on millions of dollars of state-funded tax credits for his proposed project overhauling a part of north St. Louis.
RunTime:  0:46
OutCue:  SOC

Wrap: McKee laid out detailed plans for his "Northside Regeneration" project to the committee. It included revamped streets, new residential areas, factories, medical buildings and schools. But the biggest pitch the developer made was for job creation.

Actuality:  MCKEE1.WAV
Run Time:  00:09
Description: "St. Louis can be great again and the Northside Regeneration project is going to lead us to that greatness again. It takes jobs to make greatness."

McKee told lawmakers his plan would create 22,000 permanent jobs in 15 years.

In 2007, lawmakers approved $95 million in tax credits for the project, but they will expire in August. 

So far, McKee has collected more than $40 million, but the bill before the House committee would extend those tax credits another 6 years.

Reporting from the state Capitol, I'm Matt Evans. Newsradio 1120 KMOX.

Intro: 
St. Louis Developer Paul McKee pitched his proposed "Northside Regeneration" project to a House committee in hopes of extending the tax credits designated for the project.
RunTime:  0:40
OutCue:  SOC

Wrap: McKee was in Jefferson City in hopes to convince lawmakers to extend the time he has left to collect some $95 million dollars in state tax credits that will expire in August.

McKee says he's bought 2,200 parcels of land in the area 2 miles north of downtown St. Louis, but still needs more.

Actuality:  MCKEE3.WAV
Run Time:  00:06
Description: "The last 500 parcels we need to get is why we need an extension of time to be able to do that."

So far McKee has collected more than $40 million in tax credits, but the bill before the House economic development committee would extend the credit for 6 years and allow McKee to collect an additional $50 million in tax credits.

Reporting from the state Capitol, I'm Matt Evans. Newsradio 1120 KMOX.

Intro: 
St. Louis Developer Paul McKee says he needs more time to collect on $95 million in state tax credits.
RunTime:  0:42
OutCue:  SOC

Wrap: So far Paul McKee has collected more than $40 million dollars in tax credits of the $95 million the legislature approved for his project in 2007.

But those tax credits will expire this August. And McKee says he needs more time.

Actuality:  MCKEE2.WAV
Run Time:  00:12
Description: "We got the easy stuff, but we have pockets where we can't get more sites together and we have to get to the rest. And the last pieces are the most expensive pieces and we have 500 pieces to go."

A bill the House Economic Development Committee heard would extend the tax credit program another 6 years and also allow a project in Kansas City to share the additional $95 million in tax credits the bill would create.

Reporting from the state Capitol, I'm Matt Evans. Newsradio 1120 KMOX.

Intro: 
St. Louis Developer Paul McKee told lawmakers at a House economic development hearing Tuesday night he needs more time to put together his project overhauling a portion of north St. Louis and more time to collect tax credits from the state.
RunTime:  0:45
OutCue:  SOC

Wrap: So far, McKee has collected more than $40 million of the $95 million in tax credits the legislature approved in 2007, but they expire in August. A House bill would allow those tax credits to be extended another 6 years.

No one spoke against the bill, but a leading critic against tax credits and former St. Louis Senator Jim Lembke told the committee to look closely at tax credit legislation.

Actuality:  LEMBKE.WAV
Run Time:  00:14
Description: "It is incumbent upon our representation to make sure that we have a moral and just tax code that is fair and equitable to all tax payers in Missouri."

McKee says his plan would create 22,000 permanent jobs in 15 years.

Reporting from the state Capitol, I'm Matt Evans. Newsradio 1120 KMOX.