In most cases a parcel of real estate is an asset, but at times it can be a liability. If you feel
burdened by the ownership of a parcel of City property, consider donating it to the LRA. The
LRA can be an alternative for you to change your liability into an asset. Also, after donating your property to the LRA, the appraised value can be used as a tax deduction.
There are many reasons to donate property:
- Avoid the cost of improving the property to meet City code.
- Avoid the expense of securing a vacant building.
- Eliminate the need for insurance, fire and liability.
- Eliminate real estate taxes.
- Avoid the problem of trespassing.
- Avoid the cost of spraying for weeds or cutting grass.
In order to donate:
1. Make sure the property is free and clear of liens (with the exception of some City liens).
2. Download, fill out, and return the donation form.
3. The property must be accepted by the LRA Board of Commissioners.
4. Pay for the title insurance and the recording fees.
If you wish to donate a property or need additional information, please contact SLDC Real
Estate at (314) 657-3700, ext. 3721.