Issue: 1125 Date: 3/15/2012
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About St. Louis County Port Authority
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St. Louis County Economic Council and St. Louis County Port Authority began planting economic seeds shortly after the infamous Mississippi River flood of 1993 with the development of the Lemay Comprehensive Plan and creation of a small business incubator.
Additionally, after years of severe contamination, the former National Lead site gained new life as the location of Pinnacle's gaming and entertainment facility. When St. Louis County negotiated the deal, a benefit was included for Lemay. As part of the agreement, Pinnacle completed extensive environmental remediation, built an arterial roadway within the area, and contributed $5.1 million toward a community center.
Using the rental payments, St. Louis County Port Authority established the Community Reinvestment Fund to endow community development projects that create new jobs and redevelopment opportunities. The reinvestment fund is allocated through 1) a grant process and 2) implementation of Lemay's comprehensive plan and St. Louis County's Comprehensive Economic Development Strategy (CEDS). For the first five years, 75 percent of Pinnacle's lease payments are devoted to projects in Lemay.
