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Clayton could offer incentives to lure more retailers to aging properties

Courtesy of SLBJ. 

The city of Clayton’s Board of Aldermen will consider an ordinance that would allow officials to provide tax breaks to developers that bring more retail to storefronts in some of the city's oldest buildings.

The program is called the Clayton Vibrant Retail and Restaurant Incentive Policy, and it would provide a 50 percent sales tax reimbursement for up to five years to developers who bring retail or restaurants to any of Clayton’s 122 commercial buildings that are 50 years old or older.

Only ground floor space would be eligible for the tax break.

To read the complete article, please visit The St. Louis Business Journal.

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