Limited Bond Authorization Hinders Cortex Project

Two projects key to the Cortex Innovation Community’s development in St. Louis are in danger because of limited bond authorization. The Legislature approved $11 million in bonds to build a MetroLink station near Cortex, a collaboration of educational, research and health care institutions redeveloping an old industrial area as residences, stores and a research park.

The funding, part of a $220 million capital improvements bill, awaits action from Gov. Jay Nixon. The bill also includes $8 million of bonds for a new business incubator at Cortex.

However, both projects appear unlikely to happen anytime soon because of legislative inaction and an unexpected state revenue decline.

Read more from the St. Louis Post-Dispatch

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