Cordish Company requests $59 million TIF for Ballpark Village
On Friday, St. Louis Mayor Francis Slay’s development director Barb Geisman, and Alderman Fred Wessels, 13th ward, presented the City’s Board of Aldermen a $59 million TIF financing proposal for the $387 million Ballpark Village to be developed by the Cardinals and The Cordish Company.
Geisman reported that, after the TIF, the city should receive an average of $3.5 to $4.5 million in revenue annually over the next 23 years, with city schools getting an estimated $2.3 million annually. Other public financing includes $27 million in state tax breaks, $25 million from special taxing districts and $5 million in public bonds bought by the developers. Another hearing will be held January 31 and the Cardinals hope the project will break ground this summer.
