Musings from Brian J. Noggle: Developers Lose Some, Lose Some

Developers Lose Some, Lose Some

The St. Louis Post-Dispatch is beside itself as land developers lose some in Centene's giving up its attempt to build a new company headquarters by condemning properties in that slum of Clayton. In this case, the Post-Dispatch quotes those who worry about the impact the rule of law and right to private property will have on the region:

Jim Koman, president of Koman Properties, a Clayton-based development company, said developers are watching the situation closely "to figure out if Centene was still interested in Clayton or would pursue other markets.

"My personal hope and wish is that Centene stays within the metro area so at least the region will retain the jobs," Koman said. "All businesses and developers look towards pro-development communities and municipalities, no matter where they are located."

That implies that the region might lose jobs because the government wouldn't let the company strongarm other property owners out of their rightful property at Centene's behest.

On the other hand, the Post-Dispatch highlights a development setback for a property owner that acquired properties by buying them from their owners:

Only one developer would have qualified for the tax credit: Paul McKee, who has amassed large parcels of vacant property in north St. Louis.

Remember McKee? The Post-Dispatch apparently decided it couldn't abide this Republican land accumulator in the city. Hey, I think Blunt did the right thing in vetoing tax credits for developers who probably have good enough cash flow and credit to start with (or they should be in another business).

But the St. Louis Post-Dispatch doesn't have a consistent opinion on land development companies in their quest for government handouts; it seems as though it prefers those developers who forcibly seize lands through eminent domain "for the public good" over those developers who buy lands secretively for their own profit.

And that makes me see red, if you know what I'm saying.

- posted by Brian J. @ 6:17 AM