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For businesses within the footprint of RPA 1, the City will offer relocation assistance and will seek funds to incentivize a move to a new location in University City. If your business is east of McKnight/Woodson, you will see improvements to the Olive Blvd corridor that will spur further economic growth and development. For more information, read the University City Redevelopment Plan here.
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3rd Ward residents will see neighborhood improvements through the Redevelopment Plan for RPA 2. Ultimately, the City’s goal is that your neighborhood will be safer and more attractive, while still economically and racially diverse, and that the quality of housing stock and the value will increase over time. For more details, read the University City Redevelopment Plan here.
The TIF Act requires a municipality seeking to implement TIF to establish a TIF Commission. The TIF Commission’s role is to review, consider, and make recommendations to the City Council regarding proposed redevelopment plans, projects, and areas. For more information, click here.
The TIF Commission is made up of members appointed by taxing districts that may be affected by the TIF, including the City, St. Louis County, the University City School District and the University City Public Library.
The City will not use eminent domain under the TIF law to condemn owner-occupied residential property. The City may use eminent domain for other properties, but only when necessary after significant efforts to acquire property by private negotiation have been exhausted. The majority of residential and commercial properties in RPA 1 are already under contract, and the Developer of RPA 1 has stated his intention to be sensitive to the wishes of property owners.
The City will offer (or require the Developer to offer) financial assistance for relocation (no relocations in RPA 2 or RPA 3 will be required). Homeowners and businesses who are displaced will be offered incentives to relocate within University City. The goal of the City is for all displaced residents and businesses to remain in the community.
The City anticipates that, if approved, the RPA 1 project will begin construction in 2019 and open for business in 2020. The Developer’s projected schedule can be found here (page 22 of Developer’s Plan). Redevelopment programs for RPA 2 and RPA 3 will be initiated as funding permits.