Tagged: tax increment financing

The life sciences district known as Cortex has gotten initial approval for the first phase of its $2.1 billion expansion plan.

The city's Tax Increment Financing commission voted today to authorize about $35 million in incentives for the first phase, which totals about $160 million.

The phase includes new office and laboratory space, a new Shriners' Hospital, and a streetscape known as Cortex Commons. Here's how it breaks down:

A state appeals court has upheld the efforts of St. Peters, Mo. to use tax increment financing to build a levee structure along Highway 370 to open the area to re-development.