Board Bill Number 138 | Session 2023-2024
Chapter 99 Redevelopment Plan for the 3041 Locust Blvd. Redevelopment Area
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 3041 Locust Blvd. Redevelopment Area. This Area has a parcel that includes a commercial building that is in the Midtown Neighborhood. The property in the Area is currently blighted and is in a deteriorated condition that constitutes an economic liability to the City. The building was purchased for $1.1 million. The prospective redeveloper plans on renovating the commercial building at 3041 Locust St. into 8 apartments and 5,800 sf for offices for the approximate cost of $4.7 million including acquisition. Private financing and historic tax credits will be sought to finance the project. This Board Bill includes no use of eminent domain and ten (10) year tax abatement based on 75 percent of the assessed value of the incremental improvements.
Latest Bill text:
- Introduced (2.83 MB PDF)
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
Bill text was introduced (2.83 MB PDF).10/13/2023
Referred to a Committee
The bill was assigned to the Housing, Urban Development and Zoning Committee.11/14/2023
The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.11/17/2023
The bill was passed.
These materials are not a part of the legislation. They may be presented by the sponsor, other Board members, special guest speakers or others to help further explain the proposal, provide other evidence, give additional information and/or alternative ideas or opinions.
1 document has been uploaded Title File Size St. Louis Development Corporation (SLDC) presentation on BB 138 during the Board of Aldermen’s Housing, Urban Development and Zoning Committee Meeting Tuesday, November 14, 2023 HUDZ November 2023_.pdf 1.96 MB
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