Finance and Development
Describes the comptroller's finance and development section functions
Finance and Development Section
1520 Market Street
St. Louis, MO 63103
(314) 588-0550 Fax
The Finance and Development Section of the Comptroller's Office is responsible for the efficient management of the City's financings. This section consists of Economic Development and Special Projects; Fiscal Management and Debt Issuance; and Budget and Debt Management.
This section is also charged with improving the City's long-term credit rating. The City currently enjoys and maintains an "A" category credit rating from all three Wall Street rating agencies. This favorable credit rating significantly lowers the City's cost of issuing bonds and borrowing money.
Economic Development and Special Projects
This section assists with economic development and special projects that are dedicated to improving the City's economic condition.
- Key special projects include efforts to promote revenue growth and to build public/private partnerships. Areas of emphasis include
- urban investment (TIFs)
- airport development
- neighborhood stabilization
- negotiates small business growth and development, and
- home ownership programs.
- Processes all development projects requesting Tax Increment Financing (TIF). The City has more than 130 TIF projects that have generated more than $1 billion in development.
- Acts as the Comptroller's liaison to the St. Louis Development Corporation (SLDC), Lambert-St. Louis International Airport and the Planning Commission.
Fiscal Management and Debt Issuance
Responsible for the efficient management of the City's financing. It is also charged with improving the City's long-term credit rating to lower the City's cost of borrowing.
- Directs City's Strategic Financial Plan
- Directs City's debt financing
- Directs competitive selection processes for external finance teams
- Assists in downtown development, airport expansion development, business development and neighborhood stabilization.
- Directs the St. Louis Municipal Finance Corporation which issues lease revenue debt on behalf of the City.
Budget and Debt Management
- Responsible for coordinating the overall Comptroller's Office budget and making timely payment of the City's outstanding debt obligations.
- Handles all accounting for lease purchase financing and prepares requests for reimbursements from bank trustees. Bank reconciliations are also performed by this section.