Ordinance 71721

Chapter 99 Redevelopment Plan for the 4221-4227 Forest Park Ave. Redevelopment Area

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Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 4221-4227 Forest Park Ave. Redevelopment Area. The project consists of the construction a residential building in the Central West End Neighborhood. The prospective redeveloper is producing 38 one-bedroom units, at the cost of $10.6 million. The redeveloper plans to utilize LIHTC and private funds for this project. The financial model concludes that the project supports fifteen (15) years of tax abatement (10 years based on 90 percent of the assessed value of the incremental improvements and followed by 5 years based on 50 percent of the assessed value of the incremental improvements).

Download

St. Louis City Ordinance 71721 Document (3.79 MB PDF)

Overview

Session: 2023-2024

Board Bill Number: 72

Primary Sponsors: Michael Browning

Effective: 10/25/2023

Legislative History

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

  • 06/23/2023

    First Reading

    Bill text was introduced (4.39 MB PDF).

  • 06/23/2023

    Referred to a Committee

    The bill was assigned to the Housing, Urban Development and Zoning Committee.

  • 07/11/2023

    Committee Hearing

    The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.

  • 07/14/2023

    Second Reading

  • 07/20/2023

    Perfection

    The bill was passed.

  • 09/15/2023

    Engrossment

    The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.

  • 09/15/2023

    Third Reading

    The bill was passed.

  • 09/15/2023

    Delivered to Mayor

  • 09/27/2023

    Mayor Returns Bill

    The bill was approved.

  • 09/27/2023

    Delivered to Register

  • 09/29/2023

    Register Returns Notice with Ordinance Number

    Register returns ordinance number 71721. Effective date is 10/25/2023

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