November 13, 2019 Comments Off on TIF Will Support Hospital Build in North St. Louis Views: 682 Chicago News, Midwest News

TIF Will Support Hospital Build in North St. Louis

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St. Louis Mayor Lyda Krewson signed legislation approving up to $8 million in Tax Increment Financing assistance for a new hospital in North St. Louis City. M Property Services (MPS) will partner with medical entrepreneur Dr. David Lenihan to bring healthcare to the neighborhood as part of the NorthSide Regeneration development.

“I thought it was important to the revitalization of North St. Louis City that a hospital be brought back to the community,” said MPS CEO Paul McKee Jr. “In working with Dr. Lenihan, we were able to develop a plan that addressed the residents’ needs and desires for local healthcare that has been lacking in the community for decades.”

The hospital would be constructed on the site of defunct urban housing project Pruitt-Igoe. United Bank of Union, Sterling Bank and the St. Louis-Kansas City Carpenters Regional Council will provide $8 million in loans to get the hospital project underway.

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