Financing For Deer Creek Center on Tuesday’s City Council Agenda

A resolution to authorize the establishment of tax increment financing (TIF) for tops the agenda items scheduled for Tuesday night’s Maplewood City Council meeting. The 7:30 p.m. meeting is set to occur at . 

Deer Creek Center's owner and developer, Summit Development Group, aims to use public tax dollars to finance improvements at the site, which would allow the property to draw big-name retailers to the city.

However, access to this sort of financing is not a guarantee. In St. Louis County, a TIF commission doles out the decision initially. The commission is composed of the 12 appointees, three of whom are recommended by the City of Maplewood.

If the county's TIF commission approves the project, then the redevelopment moves forward. If the commission rejects the redevelopment, it can still advance with a two-thirds vote (five votes) of the Maplewood City Council.

City Manager Marty Corcoran doubts that the Deer Creek project will be approved by the TIF Commission based upon recent redevelopment decisions involving a Walmart in Shrewsbury and Bridgeton.

Also on tonight’s agenda:

• A resolution authorizing a preliminary funding agreement ($100,000 initially) between the City of Maplewood and Summit Development to cover the city’s costs for any expenses it incurs in regards to the redevelopment project.
• A possible rollback in property taxes: the third consecutive rollback for Maplewood.