Recommendation IE.2
Recommendation Status: New
Utilize Missouri State Statute Chapter 353 Tax Abatement to help redevelop blighted areas by providing tax abatement incentives for up to 25 years.
This recommendation helps achieve the following:
Complete
Communities
Inclusive
Economies
Responsible Growth
Key Issues Addressed
Related Planning Topic Areas
Applicable Geographic Scales
Countywide
Municipalities
Sub-geographies
New investment opportunities in areas experiencing disinvestment will lead to opportunities for development and growth.
Equity Considerations
Creating inclusive investment and equitable development can lead to the remediation of parcels for development.
Sustainability Considerations
Implementation
Lead Partner(s)
St. Louis County Department of Planning
Supporting Partner(s)
Land Clearance for Redevelopment Authority
Spanish Lake Community Development Corporation
Cost
Low
(Less than $1 mil)
Medium
($1-10mil)
High
($10+ mil)
Project, Partnership, or Policy
Policy
Partnership
Project
Timeline
Medium-term
(5-10 Years)
Ongoing
Near-term
(Within 5 Years)
Long-term
(10+ Years)
Potential Funding Sources
St. Louis County general revenue
Proceeds from sale of properties
Tracking Implementation
Tracking Success
Number of property tax abatement applications approved
If overperforming, what should we do?
Consider reducing the number of years offered for property tax abatement.
If underperforming, what should we do?
Examine other incentives that can be leveraged with property tax abatement.