Board Bill Number 83 In Session 2020-2021

Summary

Purpose The purpose of the bill is to authorize and approve tax increment financing for a portion of the Iron Hill Redevelopment Project. Proposed Action Approves a redevelopment project for the portion of the Iron Hill Redevelopment Area known as "RPA 2" and adopts tax increment financing within RPA 2. RPA 2 contains approximately 1.59 acres Main Components The Developer is Iron Hill, LLC, an affiliate of Cullinan Properties, LLC. • The Project contemplates (i) Construction of approximately 45,000 to 50,000 square feet of retail space; (ii) Construction of approximately 75,000 to 80,000 square feet of office space; and (iii) Provision of new landscaping, exterior lighting, and other necessary site improvements to enhance the site's image and utility. • Project is within the proposed St. Louis Midtown 353 Redevelopment Area. Impact on the Community Development of a blighted property located in the Midtown neighborhood. • Serve as a catalyst for additional private redevelopment of adjacent neighborhoods • Help promote transportation-oriented development (TOD) associated with the Grand Boulevard MetroLink station to the north • Promote quality pedestrian connections to the Chouteau Greenway, Saint Louis University's North campus, Cortex, the proposed redevelopment of the St. Louis National Guard Armory • Hiring practices consistent with the City's polices for minority and women owned business participation.

Download