6097 (EXHIBIT A - E) (2) - Laserfiche WebLink

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Housing The following table sets forth the median value of owner-occupied housing units in the City and, for comparative purposes, of other census entities: 1990 Median Value of Owner Occupied Housin~ City of University City $73,200 Other Entities: St. Louis County $83,500 St. Louis MSA $70,000 State of Missouri $59,800 Source: U.S. Department of Commerce, Bureau of Census. The number of dwelling units within the City has steadily increased since 1970. Following are the historical numbers of dwelling units in the City, according to the U.S. Census Bureau. Year Housing Units 1970 16,951 1980 17,383 1990 17,706 Economic Outlook General. The City's economic growth is based on its ability to attract residents and to provide a high level of services to its residents. The City believes that its revenue will increase as the City's population increases. If the City's population decreases, so will its revenues. In St. Louis County, the more residents a city has, the more intergovernmental aid it receives. For the fiscal year ended June 30, 1996, the City received more than 32.5% or $6,513,958 of its General Governmental Function Revenues from intergovernmental aid. Most of the intergovernmental aid, such as sales taxes, gasoline taxes, motor vehicle sales taxes and St. Louis County road funds allocation, is based on a population formula. The City Council has determined that in order to maintain the City's high level of services, it must continue to attract people to live in the City and provide tax incentives and grants for refurbishing multifamily units. The Loop Business District. Economic developments between July 1, 1995 and June 30, 1996 included major renovations of the Loop Business District. This area's diverse selection of specialty shops and fine award-winning restaurants attract people of all ages from the entire metropolitan St. Louis area, as well as national and international tourists. Most of the area is designated as a Historic District on the National Register of Historic Places and is recognized throughout the Greater St. Louis area as a peerless historical, cultural, entertainment and retail district. In , the City Council established the University City Loop Special Business District ("LSBD") to promote retail trade activities and enhance the environment of the Loop Business District. Funding for LSBD activities is to be paid from business license fees and a dedicated tax imposed by the City Council for such purpose. The City Council has the sole discretion as to how the revenues of the LSBD are to be utilized. -20-