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O&MURPA <br />LIVE IDLAND RBANENEWAL ROJECTREA <br />UCLCRA <br />NIVERSITYITY ANDLEARANCE FOR EDEVELOPMENT UTHORITY <br />uses and building requirements in the land clearance or urban renewal project area <br />are designed with the general purpose of accomplishing, in conformance with the <br />general plan, a coordinated, adjusted and harmonious development of the <br />community and its environs which, in accordance with present and future needs, will <br />promote health, safety, morals, order, convenience, prosperity and the general <br />welfare, as well as efficiency and economy in the process of development; including, <br />among other things, adequate provision for traffic, vehicular parking, the promotion of <br />safety from fire, panic and other dangers, adequate provision for light and air, the <br />promotion of the healthful and convenient distribution of population, the provision of <br />adequate transportation, water, sewerage, and other public utilities, schools, parks, <br />recreational and community facilities and other public requirements, the promotion of <br />sound design and arrangement, the wise and efficient expenditure of public funds, <br />the prevention of the recurrence of insanitary or unsafe dwelling accommodations, or <br />insanitary areas, or conditions of blight or deterioration, and the provision of <br />adequate, safe and sanitary dwelling accommodations. <br /> (7) The recommendation of a redevelopment or urban renewal plan by an <br />authority to the governing body shall be accompanied by the recommendations, if <br />any, of the planning commission concerning the redevelopment or urban renewal <br />plan; a statement of the proposed method and estimated cost of the acquisition and <br />preparation for redevelopment or urban renewal of the land clearance or urban <br />renewal project area and the estimated proceeds or revenues from its disposal to <br />redevelopers; a statement of the proposed method of financing the project; a <br />statement of a feasible method proposed for the relocation of families to be displaced <br />from the land clearance or urban renewal project area; and a schedule indicating the <br />estimated length of time needed for completion of each phase of the plan. <br />The proposed method of acquiring the properties is outright purchase of the property <br />and, failing acceptance of an offer, condemnation and eminent domain. The <br />estimated cost of acquisition has been determined using the St. Louis County <br />appraised value, and an estimated range of an additional 10%. The properties under <br />consideration for purchase include 7301 Olive (#17J421228) and 7315 Olive <br />(#17J421118). The estimated cost of purchasing these properties is $238,000 - <br />$261,800 and $91,900 - $100,100, respectively. The total estimated cost of property <br />acquisition in the Area is $329,900 - $361,900. The estimated proceeds from <br />disposal of the property to interested parties is less than $10,000. The proposed <br />method of financing the project is to utilize revenues from the Olive Central <br />Boulevard TIF District. No families are intended to be displaced as a result of the <br />Program or Plan. The following schedule indicates the estimated maximum length of <br />time needed for completion of each phase of the Plan. <br />Phase Years from Approval of Program & Plan <br />1 2 3 4 5 6 7 <br />Land Acquisition <br />Request for Proposals <br />Developer Selection <br />Disposal of Property <br /> (8) The governing body of the community shall hold a public hearing on any <br />redevelopment or urban renewal plan or substantial modification thereof <br /> ÐÙßÊ ËÎÞßÒ ÝÑÒÍËÔÌ×ÒÙ <br />12 <br />80759 <br />1/08/08 <br /> <br />