ST. LOUIS — The Board of Aldermen on Friday passed legislation to help finance a proposed $323 million marina complex with hotels, restaurants and an indoor waterpark on St. Louis’ far northern riverfront.
The bills allow formation of transportation development and community improvement districts that could charge sales taxes within the site, off Riverview Drive just north of Interstate 270.
The community improvement district also could add a $10-a-night hotel room charge and special assessments on some other property.
A week earlier, aldermen approved a resolution recommending that the city Port Authority authorize 15 years of partial property tax abatement and a sales tax exemption for construction materials.
The 67-acre Lighthouse Point proposal has been controversial, with critics warning that locating a marina in that location would cause environmental problems on the Mississippi River and disrupt port operations elsewhere on the riverfront.
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Developers say the project would generate $26 million in new taxes and 450 jobs.
The resolution passed last week requires the Port Authority to give aldermen a report on the project’s expected environmental impact. The report is to be submitted before construction begins and after “relevant state and federal agencies” approve the plan.
