GOV
Revolving Loan Fund to Increase Traffic Safety and Decrease Uninsured Motorists Receives Approval from Board of E & A
Approval will help low-income St. Louis City residents with payment of personal property taxes, automobile tag fees, and auto insurance premiums
For more information about the revolving loan fund, contact Justine Petersen at 314-533-2411.
Today, the Board of Estimate and Apportionment gave final approval to an agreement to initiate a revolving loan fund that will help low-income St. Louis City residents with payment of personal property taxes, automobile tag fees, and auto insurance premiums. This fund is intended to increase traffic safety by decreasing the number of expired temporary tags and uninsured motorists in St. Louis.
“The number of expired temp tags and uninsured cars on our streets is frustrating, and affects everyone who travels in our city,” said Mayor Tishaura O. Jones. “While the City increases our efforts to write citations for expired plates, this loan program will help low-income residents get into compliance and get insured while they pay back the loan.”
St. Louis and other Missouri communities continue to suffer due to state legislators’ slow action on allowing sales tax to be paid easily at the point of sale for motor vehicles, which motorists in every other state can do. This loan fund is one way the City of St. Louis is addressing an issue that has continuously failed to be addressed in Jefferson City
The loan fund will be administered by the not-for-profit Justine PETERSEN.
“We are incredibly proud to maintain our commitment to our community by offering essential financial support through Justine PETERSEN,” said Sheri Flanigan-Vazquez, MSW, Chief Operating Officer. “This aid will be accessible to the residents in the areas we serve, with the goal of empowering and improving their overall quality of life. We are eagerly anticipating the positive and meaningful impact that this initiative will have on our city.”
Residents of the City of St. Louis who have a household income of no more than 80 percent of the area median income are eligible to apply. Applicants must show proof of residence, proof of household income, proof of vehicle ownership, and demonstrate an ability to repay the loaned amount. The City anticipates that applications will go live during the fall of 2024.
The total amount of funding allocated to the revolving loan fund is $315,479.
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Department:
Office of the Mayor
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Topic:
Transportation, Infrastructure, and Utilities
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