Board Bill Number 156 Votes In Session 2019-2020

Expansion of St. Louis Square, Inc. operations

Board Bill

Overall Purpose/Reasons for the Board Bill This Board Bill will facilitate personal property tax abatement and sales and use tax exemption incentives in connection with Square, Inc.’s expansion of its St. Louis operations, which includes the creation of more than 250 jobs and the relocation of Square’s St. Louis offices to the former Post-Dispatch building located at 900 N. Tucker Boulevard. What the Board Bill Will Do This Board Bill will authorize an industrial revenue bond transaction that will facilitate the following incentives: • 10 years of personal property tax abatement (75% abatement in years 1 – 5; 50% abatement in years 6 – 10); • Sales and use tax exemption on the purchase of personal property; and • Sales and use tax exemption on the purchase of construction materials used for tenant improvements The industrial revenues bonds will be purchased by Square and will be payable only from lease revenues paid by Square, and not from any City tax revenues. The City approved similar industrial revenue bond transactions for Anheuser Busch in 2018 (Ordinance No. 70921), in 2017 for Huvepharma (Ordinance No. 70590), and in 2015 for Square’s initial expansion into St. Louis (Ordinance No. 70132). The Main Components of the Board Bill The Board Bill (1) approves a Plan for an Industrial Development Project, which is attached as Exhibit A to the Board Bill, as is required by Chapter 100, RSMo. for this type of incentive, and (2) authorizes the issuance of the industrial revenue bonds to facilitate the above-described incentives. The Impact of the Board Bill to the Community The Board Bill will incentivize Square to create invest approximately $45 - $50 million in the City and create more than 250 jobs. A Cost/Benefit Analysis describing the financial impacts of the tax incentives on the various taxing districts is included in Exhibit A to the Board Bill and will be sent to each of the taxing districts, as required by Chapter 100, RSMo.

View Board Bill 156 details

01/17/2020 Final Passage Vote Results

This board bill was part of a consent vote along with BB 63, BB 87, BB 122, BB 125, BB 142, BB 143, BB 145, BB 149, BB 156, BB 163, BB 164, BB 165, BB 166, BB 167, BB 176

Aye 24
No 0
Final Passage Vote
Ward Alderman Position
1 Sharon Tyus Aye
3 Brandon Bosley Aye
5 Tammika Hubbard Aye
6 Christine Ingrassia Aye
7 Jack Coatar Aye
8 Annie Rice Aye
9 Dan Guenther Aye
11 Sarah Martin Aye
12 Larry Arnowitz Aye
13 Beth Murphy Aye
14 Carol Howard Aye
15 Megan E Green Aye
16 Tom Oldenburg Aye
17 Joseph D Roddy Aye
18 Jesse Todd Aye
20 Cara Spencer Aye
21 John Collins-Muhammad Aye
22 Jeffrey L Boyd Aye
23 Joseph Vaccaro Aye
24 Bret Narayan Aye
26 Shameem Clark Hubbard Aye
27 Pamela Boyd Aye
28 Heather Navarro Aye
President Lewis E Reed Aye
10 Joseph Vollmer Did Not Vote
2 Lisa Middlebrook Absent
4 Samuel L Moore Absent
19 Marlene E Davis Absent
25 Shane Cohn Absent

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