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
Complete
Communities
Leading the Region
Responsible
Growth
Key Issues Addressed
Related Planning Topic Areas
Applicable Geographic Scales
Countywide
Municipalities
Sub-geographies
Equity Considerations
Creates checks and balances mechanism prior to redevelopment which can help prevent displacement and evictions of vulnerable tenants.
Sustainability Considerations
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.
Implementation
Lead Partner(s)
Supporting Partner(s)
Cost
Project, Partnership, or Policy
Project
Partnership
Policy
Timeline
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
Beyond Housing
St. Louis Realtors
Land Clearance and Redevelopment Authority of St. Louis County
Medium
($1-10mil)
Low
(Less than $1 mil)
High
($10+ mil)
Medium-term
(5-10 Years)
Ongoing
Near-term
(Within 5 Years)
Long-term
(10+ Years)
Potential Funding Sources
Revenue from sale of properties
Tracking Implementation
Tracking Success
Creation of a well resourced and governed land bank entity
If overperforming, what should we do?
Reduce sales prices for disposition to get properties back into the hands of the private market for redevelopment.
If underperforming, what should we do?
Increase sale prices to generate more revenue from the disposition of properties.