Newspaper article St Louis Post-Dispatch (MO)

Aldermen Vote to Back Industrial Site Plan Involves $6.2 Million in Bonds for Plant, Offices

Newspaper article St Louis Post-Dispatch (MO)

Aldermen Vote to Back Industrial Site Plan Involves $6.2 Million in Bonds for Plant, Offices

Article excerpt

O'Fallon aldermen have approved a project involving the sale of $6.2 million in industrial-development revenue bonds for construction of a manufacturing facility and an office building near Highway 40 and Weldon Spring Road.

A public hearing on the bonds will be held Friday. The bonds are to be issued by the St. Charles County Industrial Development Authority. The project does not involve O'Fallon funds. The resolution is a statement of support for the plan.

The project will be on the front 45 acres of a site in the city's high-tech corridor. The corridor is designated for industrial and commercial use. The manufacturing facility will be 78,400 square feet and the office building, 15,000 square feet.

Aldermen recently labored over the use of the site, called the Knight-Palmer tract. They have decided to allow the back portion to be used for residential development.

In other action, board members discussed a bill that would allow for the issuance of $252 million in taxable industrial-revenue bonds to help with the expansion of MEMC Electronic Materials Inc. …

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