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OLIVETTE/UNIVERSITY CITY I-170/OLIVE BOULEVARD JOINT REDEVELOPMENT TASK FORCE The Panel also provided guidance as to implementation plan for coordinated redevelopment involving a Chapter 353 Redevelopment Corporation. The guidance provided by the Panel was reassuring. One of the primary tasks for the Task Force was to determine whether cooperation between the two communities was merited. The Panel reassured the Task Force of the benefits of a cooperative redevelopment effort. In doing so, the Panel noted that there would be a series of obstacles and issues that the two communities would have to address, such as taxing structure. The Panel, a mixture of professionals that represent the St. Louis region development community, also reinforced the credibility of the Task Force’s redevelopment vision and list of preferred land uses. Mr. Mello provided the Task Force a map as to how a coordinated redevelopment approach should be initiated. This was through the formation of an intergovernmental agreement in which the various issues noted by both the TAPS panel and Mr. Mello’s presentation. Series of action steps. It is the Task Force’s recommendation that the most effective means for a coordinated redevelopment approach is for both communities to develop an Intergovernmental Agreement. Among other items, this Intergovernmental Agreement should address: use of economic incentives; marketing and promotion; revenue sharing recognizing the current sales tax structure; common zoning regulations, which would include: complementaryarchitectural design and site development standards, o common streetscape standards, o form-based code or other appropriate zoning mechanism for regulating o developments reflective of the vision for the area; and acontemplated master planto be developed in the future, though the Intergovernmental Agreeement itself need not contain a master plan. After the two cities develop the framework and parameters for the Intergovernmental Agreement, the JRTF recommends that the next joint steps be: Continue to use the Saint Louis County Economic Council, the Urban Land Institute, the private development communities and others as resources to solicit “anchors” for redevelopment of the area. Actively pursue Saint Louis County, including the Economic Council, East-West Gateway Council of Governments, Metro, the Missouri Department of Transportation, and the Great Rivers Greenway District, to partner, invest and plan for redevelopment of the areas surrounding the interchange. Consider the formation of aChapter 353 Redevelopment Corporation, if appropriate given the circumstances, as a means to implement the Intergovernmental Agreement and promote sustainable development. While these recommendations are being considered and pursued, both communities should continue the collaborative efforts that reflect the mission of this Task Force. Should any future group be formed to assist in the recommended endeavors, it is encouraged that it be provided an opportunity to solicit not only staff support, but to alsohave an established budget to retain specialized professional services. Experienced developers with a trackrecord. The Task Force finds that discussions with experienced developers with a track record would be premature given the series of action steps identified above. It is prudent that both Olivette and I-170/Olive Joint Redevelopment Task Force Final ReportPage 15of 17