ST. LOUIS — A food manufacturer is eyeing a north St. Louis site for expansion, city documents say.
Contingent on tax subsidies, Confluence Food Group is looking to acquire 3813-3853 Garfield Ave., a vacant commercial building in the JeffVanderLou neighborhood, for $2 million. Redevelopment costs would total another $1.7 million.
City documents say the business currently employs 60 people, and would hire an additional 17 after the move. They don't say where Confluence is currently located. State business records list an address in the city's Baden neighborhood.
A city board, the Land Clearance for Redevelopment Authority, will consider Tuesday whether to recommend granting Confluence Food 10 years of property tax abatement based on 95% of assessed value of incremental improvements. City documents don't say what the abatement could be worth.
Also Tuesday, the LCRA board will weigh whether to award a downtown hotel project more subsidies.
Denver-based NuovoRE, a developer with Walton family ties, is asking for a sales tax exemption on construction materials and a personal property tax abatement of 100% for five years and 50% for five years at 1528 Locust St., a former YMCA in Downtown West. City documents don't say what the requests could be worth.
The city already awarded the project 15 years of property tax abatement, with 10 years at 90% and five years at 50%. But the city said the developer is citing cost increases and "COVID-19 related market conditions."
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