Re-post from The St Louis Post-Dispatch
An additional $54 million in street improvements near the new National Geospatial-Intelligence Agency site is planned under legislation submitted last week to the Board of Aldermen.
Part of the funding would be generated by increasing the city earnings tax and state income tax payments from NGA employees diverted to the project until 2046.
Those increases — $650,000 a year from the city and $850,000 annually from the state — would allow a city agency to sell about $30 million in bonds to help fund the street work. The city would apply for federal and state grants to pay for the remainder.
The plan calls for about $31 million in improvements to Cass Avenue between North Grand and North Tucker boulevards; $18.9 million for St. Louis Avenue between Jefferson Avenue and North 11th Street; and $4.25 million for North 22nd Street between Cass and St. Louis.
“This is completely rebuilding these streets from street bed up,” said 5th Ward Alderman James Page, the bill’s sponsor.
