Missouri AG sues Paul McKee’s NorthSide Regeneration over tax credits

The state of Missouri is suing St. Louis developer Paul McKee’s NorthSide Regeneration LLC over tax credits for the company’s 1,500-acre redevelopment project in north St. Louis.

Attorney General Josh Hawley filed a lawsuit Wednesday alleging that McKee’s company kept $4.5 million of state tax credits despite failing to complete the purchase of properties tied to those credits.

The suit charges the company with credit fraud, breach of tax credit application and unjust enrichment.

It followed one day after St. Louis officials said McKee and NorthSide had violated the terms of an agreement with the city to redevelop 1,500 acres in north St. Louis. The move by the city could trigger the termination of McKee’s redevelopment deal.

Hawley’s suit focuses on the state’s Distressed Area Land Assemblage tax credit, which helped developers acquire land in economically distressed areas to assemble large projects. The suit said McKee received $4.5 million of the credits without actually purchasing the properties.

Read more: St. Louis Public Radio, St. Louis Post-Dispatch

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