Show-Me State Times

The Missouri Senate has moved forward with legislation aimed at revitalizing the state's downtowns and Main Streets. The Revitalizing Downtowns and Main Streets Act, which was perfected in a vote last night, proposes a state incentive to convert office buildings into mixed-use and residential spaces.

Kurt Weigle, Chief Downtown Officer for Greater St. Louis, Inc., emphasized the importance of this initiative: “The St. Louis region and the state of Missouri need to grow, and revitalizing Downtown St. Louis and Main Streets across the state is a critical step toward making that happen.” He added that "Downtowns and Main Streets are the economic heartbeat of their communities."

This act aligns with the STL 2030 Jobs Plan's goal of boosting job quality in the St. Louis region by reviving urban cores and Main Streets. The plan is managed by Greater St. Louis, Inc., which sees this legislation as key to attracting businesses, residents, and economic activity statewide.

The bill has received broad bipartisan support. It includes SB 35 introduced by Senator Steve Roberts in the Missouri Senate, along with HB 610 and HB 900 introduced by Representatives Travis Wilson and Marty Joe Murray in the House. It offers a 25% credit for converting office buildings into residential or mixed-use spaces and a 30% credit for developing upper-floor housing projects in designated Missouri Main Street communities.

Elizabeth Lauber from Missouri Main Street Connection stated that "this bill tells a story of bipartisanship" benefiting both large cities and rural areas across Missouri.

Greater St. Louis, Inc., is leading a coalition supporting this legislation alongside organizations like Associated General Contractors of Missouri, Historic Revitalization for Missouri, Missouri Bankers Association, Missouri Chamber of Commerce, Missouri Municipal League, St. Charles County, and St. Louis Electrical Connection IBEW/NECA.

Weigle noted: “This is a top priority for St. Louis’ business community," highlighting excitement over partnering with diverse supporters to realize this policy.

Key components include:

- A 25% conversion credit for qualified office buildings.

- A 30% conversion credit for upper-floor housing on Main Streets.

- A $50 million annual program cap.

- Reserving 25% of this cap for upper-floor housing projects on Main Streets.

- Reserving 50% of the cap for buildings over 750,000 square feet.

With its perfection complete, the Senate could formally pass it as early as Thursday before sending it to the House.