Ordinance 71573

Chapter 99 Redevelopment Plan for the 3101, 3117-3123 Delmar Blvd. & 3107-3115 Franklin Ave Area

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Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 3101, 3117-3123 Delmar Blvd. & 3107-3115 Franklin Ave Area. The project consists of the renovation of an occupied residential building and demolition of two homes to create a community space for residents in the JeffVanderLou neighborhood. The prospective redeveloper plans on renovating all 147 units ranging from 1-2 bedrooms, at the cost of $ 23 million. The redeveloper plans to utilize tax exempt, Nat’l/Affordable Housing Trust Fund, HOME, 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 95 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) and the LCRA Board concurs. This Board Bill will allow fifteen (15) years of tax abatement (10 years based on 95 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 71573 Document (1.33 MB PDF)

Overview

Session: 2022-2023

Board Bill Number: 74

Primary Sponsors: Marlene E Davis

Effective: 12/04/2022

Legislative History

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

  • 07/15/2022

    First Reading

    Bill text was introduced (1.31 MB PDF).

  • 07/15/2022

    Referred to a Committee

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

  • 09/22/2022

    Committee Hearing

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

  • 09/22/2022

    Committee Hearing

    The bill was reconsidered in committee without recommendation during the Housing, Urban Development and Zoning Committee hearing.

    The bill text was changed:

  • 09/23/2022

    Second Reading

  • 09/30/2022

    Perfection

    The bill was passed.

  • 10/07/2022

    Third Reading

    The bill was placed on the informal calendar.

  • 10/28/2022

    Engrossment

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

  • 10/28/2022

    Third Reading

    The bill was passed.

  • 10/28/2022

    Delivered to Mayor

  • 11/09/2022

    Mayor Returns Bill

    The bill was approved.

  • 11/10/2022

    Delivered to Register

  • 11/14/2022

    Register Returns Notice with Ordinance Number

    Register returns ordinance number 71573. Effective date is 12/04/2022

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