Lawsuit could undermine $1.7 billion St. Louis development, attorney argues

A lawyer for a St. Louis economic development agency argued that a lawsuit by a lender for developer Paul McKee could threaten a $1.7 billion project to build a new National Geospatial-Intelligence Agency in north St. Louis.

In a hearing Friday in St. Louis Circuit Court, attorney Jerry Carmody, representing the city’s Land Clearance for Redevelopment Authority, or LCRA, and affiliated entities, likened the lawsuit by the Bank of Washington to a “terrorist attack.”

The city is seeking to clear claims from the bank to 97 acres in north St. Louis that it has spent $119 million preparing to hand off to the federal government for the new western headquarters of the National Geospatial-Intelligence Agency, or NGA.

The action in St. Louis, filed by an LCRA affiliate created for the NGA project, seeks to have the land declared free of claims. That includes any claims arising from a Bank of Washington lawsuit in Franklin County, where the bank is asking a judge to reinstate liens on property that McKee had sold to the LCRA for the new NGA complex.

Although the LCRA owns the NGA land now, the Franklin County lawsuit threatens to muddle the title situation later, Carmody said.

Read more: St. Louis Post-Dispatch

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