St. Louis Board of Aldermen Pass Cortex Incentives

The St. Louis Board of Alderman Friday passed two bills that provide incentives for Washington University’s $95 million redevelopment of the former Goodwill Building in the Cortex Innovation District.

Board Bill 140 provides up to $4 million in tax increment financing for the project while Board Bill 139 gives a sales and use tax exemption on construction materials and a 10-year, 70% personal property tax abatement on project equipment. Cortex has said the incentives are important to landing a commitment from an anchor tenant, St. Louis-based C2N Diagnostics, that could occupy nearly half of the seven-story Goodwill Building.