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.