ST. LOUIS — Missouri Gov. Mike Parson this week signed legislation that includes provisions seen as helping potential redevelopments of big vacant properties in downtown St. Louis.
Parson on July 9 signed House Bill 2062, which includes changes to the state's historic tax credit program. In one, projects over 1 million square feet — which affects the AT&T tower and the Railway Exchange Building — can collect state historic tax credits over six years rather than one. The effect is that if the projects seek credits in the same year, for example, they won't take up all of the $104 million available to those in non-qualified census tracts. Under the current rules, a $60 million award to both projects, for example, would "really then shut out other projects around the state," a preservation official previously said.
The legislation also sets a deadline for the State Historic Preservation Office to review projects within 60 days. If they don't, the official said, the office won't be able to require more work on applications.
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