Tax credit backers slam new Mo. commission

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Tax credit backers slam new Mo. commission
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Wednesday, Gov. Jay Nixon created a commission to study Missouri's mess of tax credit programs.

And Thursday, the group dedicated to saving the biggest of those tax credit programs slammed him over the makeup of that commission, saying it appears to set up an "either-or" debate between big development interests and public education.

The Coalition for Historic Preservation and Economic Development put out a news release Thursday evening blasting Nixon for his choices on the 25-member commission, which is tasked with studying Missouri's 61 tax credit programs and reporting back by year's end with ways to generate a greater return, which cost the state more than $585 million last year.

While the commission does include several prominent tax credit advocates, among them development consultant Steve Stogel, Zack Boyers, president of U.S. Bancorp Community Development Corp., and several other St. Louis-area bankers and builders, it lacks any representatives from small town Main Street groups, community development organizations or historic preservation groups, "all of whom have firsthand experience in how well the program works for the average citizen," the Coalition's press release reads. 

"Missouri leads the nation in economic development from the historic tax credit, and any commission that is looking at this issue should include more members that are familiar with how it works."

The Commission also includes six representatives of statewide education groups, from the American Federation of Teachers to the Coordinating Board from Higher Education. Nixon has pointed to education cuts as a reason to rein in fast-growing tax credit programs, and the Historic coalition said it's worried this will be a repeat of that effort.

"This is not an either-or situation," they wrote. "Economic development through historic preservation creates a stronger tax base and is therefore a benefit to education."

Suspicion of the governor is running high in historic tax credit circles, especially as concern has spread in recent weeks of a state slowdown of the lucrative program. Consider this news release the opening shot in what will likely be a contentious debate over the next few months.

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