Prop NS Program
The Prop NS Program (named after Proposition NS, approved by voters in 2017) stabilizes vacant residential buildings owned by the Land Reutilization Authority as a first step toward subsequent purchase and full rehab by others.
Criteria established by Ordinance 70956, a building must be:
- Owned by LRA
- Residential use with no more than six units
- Available for purchase
- In a condition that can be saved
No more than 200 properties can be in the stabilization process or for sale at any given moment.
About Prop NS
The Prop NS Program is a strategic initiative with a goal of stabilizing, securing, and selling vacant residential buildings owned by the City of St. Louis Land Reutilization Authority (LRA). The program was established by a community-initiated and voter-approved ordinance to create a dedicated source of funding to make it possible for LRA to improve properties within the City’s landbank of vacant buildings. This investment is intended to increase the likelihood that these properties will be purchased by private parties who will then finish their rehab and transform current deteriorating buildings into decent housing for their communities.
Approved by voters on April 4, 2017, Proposition NS and the subsequent authorizing Ordinance 70956 approved by the Board of Aldermen direct the City to:
- issue and sell $40 Million in general obligation bonds – with no more than $6 Million to be issued annually - for the purpose of stabilizing residential properties owned by the Land Reutilization Authority of the City of St. Louis; and
- market and sell these stabilized properties in a “simplified and efficient program”
These Ordinances limit the investment of Prop NS funds to no more than $30,000 per single family house or no more than $50,000 per 2-6-family building.
No more than 200 properties can be in the stabilization process or for sale at any given moment. Once the total reaches 200, no additional building will be taken on until one or more houses get sold.
Guiding Principles for the Prop NS Implementation Process:
- Transparent Process
- Community Informed Oversight
- Creation of Building Nomination Process for Residents
- Publicly Accessible Data and Outcomes
- Catalyst for Neighborhood Reinvestment and Workforce Development
- No Land Reutilization Authority (LRA) Buildings Under the Status of “Optioned” are eligible for Prop NS funds; only “Available” Buildings, which are listed on the LRA Sale List. (To access list, go to "Download" section of the page and search the "Improved Property List" for the current month and year.)