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<br />REDEVELOPMENT AREAS <br />Mr. Lehman presented a map with 23 designated redevelopment areas that are targeted. <br /> <br />Mr. Price asked about what controls University City had concerning development along <br />Olive Blvd. Mr. Walker explained that most can be controlled through zoning restrictions. <br />He said that ideally it would be great if the City could purchase land as it becomes <br />available, so the City can ultimately control the development for that space. Financially <br />with the City’s tight budget, such purchasing is impossible. <br /> <br />Ms. Ricci asked Mr. Walker for a map of the City owned property. She also asked if there <br />was a study done for developing Olive. Councilmembers answered that there had been a <br />study done a several of years ago plus the Advisory Board for Economic Progress <br />compiled a report after examining places for development over a nine month period. <br /> <br />VACANT COMMERCIAL PROPERTIES (OLIVE & DELMAR) <br />Mr. Lehman passed out a spread sheet listing the vacant properties. There are 36 <br />residential places and 14 commercial sites that are vacant on Delmar and 1 residential and <br />34 commercial piece of properties that are vacant on Olive. <br /> <br />STRUCTURE OF ECONOMIC DEVELOPMENT IN OTHER CITIES <br />Mr. Lehman handed out a spread sheet comparing University City to Brentwood, <br />Ferguson, Kirkwood, Clayton, Maplewood, Overland, Chesterfield, Webster Groves and <br />Olivette. <br /> <br />EXISTING DEVELOPMENT SUBSIDY POLICY <br />Discussion took place on the use of TIF. It is to be used for blighted areas only. In <br />University City, their rules require that TIF is to be used for truly blighted areas only. <br />Moreover the existing rules allow the use of TIF only in certain areas of University City <br />only. In other areas, Property Tax Abatement has been used instead. He explained that <br />the Loop has organized and taxed the Loop businesses in order to continually enhance <br />and publicize their area. The Olive Business District has not been able to do this. It was <br />explained that the Missouri Legislature recently redefined the usages in which eminent <br />domain is used. It is now spelled out that eminent domain can only be a tool for <br />redevelopment in truly blighted areas. Also the law now requires adequate financial <br />payments must be made to the owners being forced to sell. <br /> <br />Ms. Brot stated that the new Council needs to have another study session with the <br />Planning & Development department in order to formulate the tools which may be utilized <br />for future economic development in University City. <br /> <br />The meeting was adjourned at 6:25 p.m. <br /> <br /> <br />Joyce Pumm <br />City Clerk <br />