STL approves loan for National Geospatial Intelligence Agency HQ

A St. Louis Board of Aldermen committee has approved a $20 million loan to help the city buy land at the site being considered for the National Geospatial Intelligence Agency's new $1.6 billion headquarters.

The vote was tight at 5-4, with some members expressing concern about paying developer Paul McKee, who owns much of the land within the site, for the property, according to the St. Louis Business Journal.

"What I don't want to see is any of this $20 million going in the form of profits to a single developer on the north side that has assembled 342 properties and stands to profit off this," said Cara Spencer, alderwoman from the 21st Ward.

Employing 3,100 people, the NGA is currently located near the Anheuser-Busch brewery. It's also considering sites in Fenton, Mehlville and St. Clair County.

Read more from the St. Louis Business Journal.