After a protracted, 20-year, often-tumultuous gestation period, the 550-acre, $400-million NorthPark commercial development has finally broken ground. This huge redevelopment project near Interstates 70 and 170 in North County is the largest redevelopment project in St. Louis County history.
It was enabled by the formation of a joint development commission at the behest of the late County Executive George “Buzz” Westfall in 2002. He was able to renegotiate an agreement to resolve the rancorous, sometimes bitter squabble between elected officials in Berkeley, Ferguson and Kinloch, each with their own agenda.
Ameren’s Michael West chaired the Intergovernmental Commission that crafted the agreement during the past three years, and his personal dedication to its success cannot be overlooked.
Importantly, this huge project – which could create as many as 12,000 jobs with an annual impact of $7 billion – would not be possible if the St. Louis County Council did not agree to authorize up to $57.5 million in tax increment financing (TIF). Moreover, the council agreed to accept responsibility for debt service of the TIF bond if the project doesn’t generate enough revenue to pay it off.
As a result, there should be no “if” with this TIF when it comes to minority participation on this massive redevelopment of prime county property.
This critical public support and the large number of African Americans in these communities place a special obligation on the developers to ensure there is substantial minority participation on the project.
It is encouraging to know that NorthPark Partners has a consultant helping direct its minority inclusion effort. It seems that all black elected officials involved with the project, including St. Louis County Executive Charlie Dooley, are vowing to keep minority participation at a level higher than the 25 percent goal.
But talk is cheap. Only action will make a difference. If all parties act as promised and expected, this project could be an invaluable resource for black business owners, black workers and predominantly black communities.
Chris McKey of McEagle Properties and Bob Clark of Clayco Properties have teamed resources to form NorthPark Partners, and both are dedicated to minority participation.
As time goes by and the project grows, building by building, it will take vigilance on all parties’ parts to make sure inclusion is not buried under this precious piece of real estate.