Recommendation LR.1
Recommendation Status: New
Develop specific criteria for the land bank to acquire, demolish, hold, and sell property.
This recommendation helps achieve the following
Applicable Geographic Scales
Countywide
Municipalities
Key Issues Addressed
Sustainability Considerations
Sub-geographies
Equity Considerations
Creates checks and balances mechanism prior to redevelopment which can help prevent displacement and evictions of vulnerable tenants.
Demolition of the most distressed residential properties and remediation of vacant lots can reduce environmental impacts that lead to a supply of higher quality developable sites that are more marketable.
Related Planning Topic Areas
Leading the Region
Complete Communities
Responsible Growth
Low
(Less than $1 mil)
Medium
($1-10mil)
Partnership
Implementation
Lead Partner(s)
St. Louis County Department of Planning
St. Louis County Department of Revenue
St. Louis County Department of Human Services - Office of Community Development
St. Louis County Department of Transportation and Public Works
Timeline
Ongoing
Near-term
(Within 5 Years)
Supporting Partner(s)
Beyond Housing
St. Louis Realtors
Land Clearance and Redevelopment Authority of St. Louis County
Project
Cost
High
($10+ mil)
Project, Partnership, or Policy
Policy
Medium-term
(5-10 Years)
Long-term
(10+ Years)
Potential Funding Sources
Revenue from sale of properties
Tracking Implementation
Reduce sales prices for disposition to get properties back into the hands of the private market for redevelopment.
Tracking Success
Creation of a well resourced and governed land bank entity
If overperforming, what should we do?
Increase sale prices to generate more revenue from the disposition of properties.
If underperforming, what should we do?