Ordinance 71498

Equitable Development Contribution associated with the City Foundry Saint Louis Redevelopment Area

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Summary

The purpose of this bill is to accept the Equitable Development Contribution associated with the City Foundry Saint Louis Redevelopment Area. The equitable development contribution is being paid by Vande East Partners, LLC in the amount of $1,800,000.00 to support affordable housing. The bill appropriates the funds to the Affordable Housing Commission (“AHC”) and authorizes the AHC to expend such funds for the purposes of supporting affordable housing preservation, maintenance, and residential services within the current boundaries of the 17th ward and neighborhoods located North of Delmar Boulevard. This bill will fund housing assistance to homeowners who represent vulnerable populations within the city (senior citizens, low income, and people with disabilities). The bill contains a severability clause and an emergency clause.

Overview

Session: 2021-2022

Board Bill Number: 151

Sponsor: Tina (Sweet-T) Pihl

Effective: 05/04/2022

Legislative History

Legislative activities and outcomes for this board bill. Learn more about what these activities mean.

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