LRA Commission Adopts New Sales Policies Aligned with SLDC’s Economic Justice Action Plan

St. Louis, Mo. (January 31, 2023) –– Yesterday, the Land Reutilization Authority (LRA) of the City of St. Louis, Mo., Board of Commissioners — a development board staffed by St. Louis Development Corporation (SLDC) that has the authority to manage, maintain, market and sell agency-owned vacant and abandoned buildings and property in the City of St. Louis — adopted new sales policies to enhance economic empowerment, equitable and inclusive development and neighborhood transformation in conjunction with the Economic Justice Action Plan. The new policies aim to provide a more effective, transparent and equitable LRA.

Informed by extensive investigation of best practices, input from focus groups and staff workshops and public engagement, the new and updated policies better orient LRA’s sales practices to be consistent with Economic Justice, while supporting LRA’s mission and statutory directives to provide new housing, industry, jobs and enhanced tax revenues. 

As outlined in the Resolutions, the new policies for the sale of parcels in the LRA inventory have been developed with the sales methodology and policies based on the nature and intention of the purchaser. The following new policies were approved:

• New Construction Sales - offers to purchase lot(s) for new residential construction of one building
• As-Is Rehab Sales - offers to purchase a single residential building, up to 6 units
• Stabilized Building Rehab Sales - offers to purchase a single residential or mixed-use building that has received stabilization investment
• Development Sales - offers to purchase lot(s) and/or building(s) for:
  • Rehab and/or construction of mixed-use buildings
  • Rehab and/or construction of multiple residential buildings
  • Rehab of residentials buildings with more than 6 units
  • And/or commercial projects
• General Lot Purchase Sales - offers to purchase lots without buildings for any use not captured in disposition policies (e.g. parking, infrastructure)
• Side Lot Sales Policy - to sell non-buildable lots identified by LRA to eligible purchasers at a sale price of $100

In light of these new policies, the previously approved Mow-to-Own and Garden Lease policies are now obsolete and will be discontinued. LRA staff will conduct engagement to define future Green Re-Use opportunities to be presented at the April 26 meeting.

Additionally, LRA staff shared plans to increase clarity and access to information by creating tools, training and communications materials to help potential offerors understand the process in the coming weeks. This work will continue to be done in intentional phases to ensure LRA responds to the layers of community engagement requirements and priorities.

“While today’s approval of new LRA sales policies is a step in the right direction, it does not mean we are ready to begin accepting offers,” said SLDC’s SVP, Neighborhood & Community Transformation and Director of Real Estate, Lance Knuckles. “LRA wants to provide opportunities for offerors to understand the new forms and processes before submitting bids. So that residents know how to complete a successful offer under the new process, we will be holding a series of educational sessions that will be open to the public.”

The public should take note of the following dates:

February 9 • 5 – 6 p.m.
LRA Education Session I: Offer Process and Required Community Engagement 

Please click the link below to join the webinar:
https://us02web.zoom.us/j/89386098419

Or One tap mobile : 
US: +13052241968,,89386098419#  or +13092053325,,89386098419#  

Or Telephone:
Dial(for higher quality, dial a number based on your current location):
US: +1 305 224 1968  or +1 309 205 3325 or +1 646 931 3860  or +1 929 205 6099  or +1 301 715 8592  or +1 689 278 1000  or +1 719 359 4580  or +1 253 205 0468  or +1 253 215 8782  or +1 346 248 7799  or +1 360 209 5623  or +1 386 347 5053  or +1 507 473 4847  or +1 564 217 2000  or +1 669 444 9171  or +1 669 900 6833  

Webinar ID: 893 8609 8419

February 10 • 10 – 11 a.m.
LRA Education Session II: Offer Process and Required Community Engagement 

Please click the link below to join the webinar:
https://us02web.zoom.us/j/81705387651

Or One tap mobile : 
US: +13126266799,,81705387651#  or +16469313860,,81705387651#  

Or Telephone:
Dial(for higher quality, dial a number based on your current location):
US: +1 646 931 3860  or +1 929 205 6099  or +1 301 715 8592  or +1 305 224 1968  or +1 309 205 3325  or +1 360 209 5623  or +1 386 347 5053  or +1 507 473 4847  or +1 564 217 2000  or +1 669 444 9171  or +1 669 900 6833  or +1 689 278 1000  or +1 719 359 4580  or +1 253 205 0468  or +1 253 215 8782  or +1 346 248 7799
Webinar ID: 817 0538 7651

February 15 

• LRA Begins Accepting Offers*

March 29

• LRA Board Reviews Offers*
• LRA Finalizes Pricing and Fee Policy for New Sales  

April 26

• LRA Commission Considers Business Plan and Green Re-Use Policies

* Offers must be received (complete) 5 weeks prior to a Board hearing (based upon offer completeness and required level of community engagement, completed offers received by February 22 may be reviewed at the March 29 board meeting).