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<br />(3) The City of University City owns a lot of property within our city. A lot of it <br />is in the form of small residential lots, in the northeast section, that have been <br />abandoned, given up for taxes or become vacant. Anecdotal evidence suggests that <br />housing prices are now rising fast north of Olive *. As these prices rise some developers <br />will be encouraged to put up new houses on the empty lots. Unfortunately, the city <br />owned lots are scattered and very few are connected. <br /> <br />THREATS: (1) Washington University continues to buy up housing in the eastern end of <br />U. City. They currently own 70 buildings. Although Wash U. does provide some <br />revenue in lieu of taxes, its ownership results in an overall decline in city revenue. On <br />the other hand, Wash U does do an excellent job of rehabbing and maintaining its <br />buildings, and U. City still does occupancy permit inspections in these buildings *.. <br /> <br />(2) The cities adjacent to our northeast corner, Wellston and Pagedale, do <br />virtually no code enforcement *. The decline in those cities' properties that are <br />adjacent to ours affects property upkeep in U. City for about 2 blocks into our area *. <br /> <br />* - Information obtained during discussions with Planning and Development staff. <br />