Olive Blvd Urban Land Institute - Technical Advisory Program Final Report

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ULI-St. Louis Technical Assistance Panel Recommendations I-170/Olive Blvd. Joint Redevelopment Task Force BeneÐ ts of a 353 District There are several aspects of the Chapter 353 j^fkq^fk qebj fk qebfo qlli_lu+ legislation that make it seem like the right tool for Fq ebimp qeb `fqfbp mobm^ob clo ^ _lia jlsb+ The redeveloping the study area. Task Force set no limits geographically and few Fq obnrfobp ^ mofs^qb) clo*mol t redevelopment limits otherwise (no tattoo parlors...) for the study corporation to manage the redevelopment. Most area. The desire is for something big, good, important: this places responsibility for success enriching. As dif cult as it is to imagine the study on a pro t-motivated entity. The cities will have area today as a place that draws people because strong oversight, but the burden of day-to-day of its élan, that mind-boggling possibility could operation moves to the corporation. It creates a come about. It will depend a lot on how the plan sfoqr^i lkb*pqlm pelm clo absbilmbop fkqbobpqba is written, but the biggest constraints will be in improving the area.imagination and passion. The Panel is jazzed by what a 353 corporation represents for the study Fq obnrfobp ^ obabsbilmjbkq mi^k qe^q jrpq _b area: élan? Why not? approved by municipal ordinance. The cities write a plan appointing the corporation responsible Fq mlpfqflkp qeb pfqb clo k^qflk^i fkqbobpq+ clo fjmibjbkqfkd fq+ Qvmf`^iiv) ^ 020 mi^k pbqp Undeniably, I-170 and Olive is a great location parameters and goals as a master plan, but is clo qo^kpmloq^qflk+ Fq$p ^ipl ^ dob^q il`^qflk fkpfab not a strict site plan with building placement St. Louis County, which happens to be one of requirements.the more prosperous and healthy economies in the United States, with a diverse social network. Fq j^hbp pmb`f^i mltbop lmqflk^i+ These are the Planned well, this location could set a national ]`^oolq$ lc q^u ^_^qbjbkq ^ka qeb ]o^t lkflk$ lc trend, the kind of model that typically starts in eminent domain. The latter is a prickly public Chicago or L.A. issue which the cities should avoid, but not dismiss. Because the project is so long-term and Because Olivette and University City are known for it is impossible to know what may happen in a being well run and because they have a history of decade or two, the Panel recommends that the managing change effectively, it makes sense to create special powers be held in reserve, for unique, a joint district that straddles their boundary, that treats otherwise irresolvable circumstances. Both cities both sides equally, and that becomes an inviting have these powers now and should continue to location for business, national as well as local. Framework for TIF, CID, TDD QAA * Qo^kpmloq^qflk Absbilmjbkq Afpqof`q Missouri offers a rich panoply of redevelopment and , also revitalization tools, and having a 353 redevelopment adds a small tax or toll within its district to pay for corporation sets up a framework for taking advantage transportation-related improvements. of them. There also are many other state and federal economic QFC * Q^u Fk`objbkq Cfk^k`fkd , captures added development and real estate development programs taxes within a TIF district and those monies can be to leverage. plowed back into redevelopment activities ranging from planning to land acquisition to rehabbing and many other associated costs. @FA * @ljjrkfqv Fjmolsbjbkq Afpqof`q , adds a property-based assessment based and/or a sales tax within its district to pay for a very wide variety of operational services as well as public facilities and improvements ranging from pedestrian plazas and shopping malls, parks, sidewalks, streets, streetscapes, public art, arenas, aquariums... a long, intriguing list of possibilities. 7