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Second Outlets Developer Seeks 'Transportation Tax' Break

Taubman has interest in $41 million in tax help.

Taubman Prestige Outlets Chesterfield, one of two developers looking to set up shop in Chesterfield Valley, is looking for some sales tax help toward costs of upgrading roads at the 49-acre site.

The developer confirmed with Chesterfield Patch that it was seeking a Transportation Development District (TDD) sales tax advantage at the Boones Crossing exit from Highway 40/64 exit, which leads to the proposed outlet center. It was filed with St. Louis County Courts in March.

Attorney Mike Doster for Taubman said Tuesday that filing a court request for the creation of a tranist taxing district "was not an adversarial process" but that it was part of state law.

A transportation taxing district is formed by a court order, Doster said. There was no timeline on when a decision might be made. An agreement between developers and the city must be yet finalized.

Revenue based on a TDD sales tax could also be used by Taubman on the addition of a paved entrance road off North Outer Forty next to Hardee's IcePlex, parking lots, and paving over a stormwater ditch at the front edge of the largely rectangular property.

Chesterfield Valley already has a TDD sales tax, but the understanding is that Taubman developers would like to increase it up to 5/8ths of 1 percent.

Another TDD exists for THF developers of Chesterfield Commons in the Valley.

Doster said there are a number of petitioners for the new tax districts, including Taubman, and projects by other other petitioners the tax would pay for—not just for Taubman's Prestige Outlets.

The proposed open air Taubman shopping mall backs up to the Levee Trail, and would not change any access to the levee, according to site plans.

Karen Taylor-Rosner May 22, 2012 at 01:27 PM
Of course they want more taxes. Our council just voted last night to give the other outlet mall developer the tax they wanted, why wouldn't this developer also want to get some extra cash for their project? Maybe the residents of Chesterfield should also file a request for tax help so we can get help paying for all the new taxes that we are going to have to pay to support these private developers and their projects.
Jean Whitney May 22, 2012 at 03:49 PM
Now there's a novel idea Karen—a little tax help please!
Ann Book May 23, 2012 at 07:31 PM
But is this developer saying that they want to increase the TDD sales tax on all of the valley to help fund the roadwork, or would their TDD sales tax be increased only on the new (unbuilt) outlet mall? The taxes are already too high, particularly in the valley. I still don't understand why the taxes in the valley didn't drop when the bonds were paid off years ahead of schedule for the TIF. Anyone know?
Jean Whitney May 23, 2012 at 08:21 PM
Taubman outlet developer would add up to 5/8ths percent on top of the existing TDD in Chesterfield Valley, a TDD that the city itself started earlier in the development of the Valley, according to Taubman's attorney.

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