Aldermen May Hold Hearings, Call for Criminal Investigation of McKee Deals

By on May 15, 2018

From St. Louis Post-Dispatch:  Responding to allegations that developer Paul McKee and another property owner inflated real estate values in “sham” sales to procure state tax credits, one St. Louis alderman is asking colleagues to join a call for a criminal investigation and another plans a hearing on McKee’s NorthSide Regeneration project.

The action from city officials follows details of the transactions released this week during an eminent domain trial to determine the value of one of the properties — the former Buster Brown building near Jefferson and Cass avenues owned by Jim Osher. It was taken through eminent domain two years ago to make way for the future National Geospatial Intelligence Agency western headquarters.

Alderman Shane Cohn, 25th Ward, plans to hold a hearing May 30 in the Neighborhood Development Committee about McKee’s project. He sent an email to committee members saying he wants to hear from city economic development officials at the St. Louis Development Corporation and those from the mayor’s office about McKee’s NorthSide Regeneration project.

Meanwhile, Alderman Cara Spencer, 20th Ward, is circulating a resolution calling for a criminal investigation from state and federal authorities.

As details of the transactions came out in trial, Mayor Lyda Krewson released a statement Wednesday saying she was “committed to investigating these claims thoroughly and taking appropriate action.”

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