UNIVERSITY CITY, MO — University City has rejected a sunshine request from local activist Clair Antoine seeking an independent TIF analysis by St. Louis Development Corporation financial analyst Jonathan Ferry.



Ferry has done similar work for projects in St. Louis City, and his reports typically show a range of projected rates of return for projects with and without public assistance. He grades each project on tax revenue, economic value and the amount of public assistance needed, among other criteria, coming up with a final grade for the project that indicates whether the amount of TIF assistance requested is appropriate for the overall project. "TIF money is a public subsidy of a private development," Antoine said at a public hearing May 23. "As soon as tax dollars are involved, the public is as much an investor as the developer."



But the city seems to be planning on withholding Ferry's grade from the public until after the contract with the developer Novus has been signed. "The document you requested is a closed record at this time pursuant to Section 610.021(12) RSMo because it relates to a negotiated contract that has not been executed," city clerk LaRette Reese wrote to Antoine on Friday.

Antoine and others have called for a Community Benefits Agreement to protect communities in the path of the planned development, but the city has expressed little interest in negotiating such an agreement with the developer. Community development director Rosalind Williams said the city will work to develop a community benefits plan after the TIF is approved. But, a community benefits plan is not the same as a legally-binding Community Benefits Agreement, which activists say they want upfront.



The city will hold another public hearing on the development Wednesday at 7 p.m. at the Mandarin House Banquet Hall located at 8004 Olive Boulevard. But, according to information from the city, only people who did not speak at the May 23 hearing will be allowed to address the commission, and the city will limit attendance to 350 people — about half of the number who attended the first hearing.

In addition to the estimated 700 people who packed the Mandarin House two weeks ago, more than a hundred people were turned away from the four-hour meeting by the fire marshal.