The Show Me Institute’s recently-released paper, “Tax Increment Financing in Saint Louis,” contains an error. That error was quoted in a recent Riverfront Times article.
The statement that the developer of the Argyle Building apartments in the Central West End applied for tax increment financing (TIF) from the city in order to build a parking garage is incorrect.
The property on which the parking garage now sits was sold to the City of Saint Louis by the developer. The City then publicly funded the construction of the parking garage. The developer did not apply for the TIF for the garage.
The Show Me Institute and the authors of the paper apologize for the error. The essay has been removed from publication in order that the authors can review and address errors in the essay.