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OLIVE&MIDLAND URBAN RENEWAL PROJECT AREA UNIVERSITY CITY LAND CLEARANCE FOR REDEVELOPMENT AUTHORITY SECTION 2 QUALIFICATION ANALYSIS This section of the report analyzes the existing conditions of the Area as they relate to the definition of a "Blighted Area" in the LCRA Law. This analysis is based on an on-site investigation of the Area conducted by PGAV professionals on September 24, 2007, and November 8, 2007. Information for this analysis was gathered through interviews and information provided by City staff and its consultants; data from University City offices; and field investigations performed by PGAV staff. PGAV staff also relied upon its extensive experience, knowledge of the real estate market, and professional expertise in the preparation of this analysis. Photographs illustrating certain conditions were taken during ' PGAV's investigation visit to the Area and are incorporated herein as Appendix B. This report will not reflect changes in conditions or events that have occurred subsequent to the date of the site visit or publication of this report. The properties located within the Olive and Midland Urban Renewal Project Area are also contained within the Olive Boulevard Central Tax Increment Finance District ("TIF District"). The City found the TIF District to be a "blighted area" under Sections 99.800 to 99.865 — Real Property Tax Increment Allocation Redevelopment Act of the Revised i Statutes of Missouri (R.S. MO). Within the TIF District, the blighting factors present at the time the TIF District was established included: unsafe conditions, deterioration of site improvements, and improper subdivision and obsolete platting. While some of these t' conditions have been addressed in portions of the TIF District, many of these factors remain present within the portion of the TIF District that comprises the Area. T Plate 3 — Conditions Map in Appendix A provides further description of the blighting g factors as summarized herein. A. DEFECTIVE OR INADEQUATE STREET LAYOUT t The transportation infrastructure (street layout/street grid) within the Area exhibits defective or inadequate street layout and affects all properties in the Area. The close proximity of uncontrolled curb cuts along Olive Boulevard is non-conforming with the recommended access guidelines for a state highway such as Olive Boulevard. The existing road pattern has been altered over time to accommodate changes in the type and intensity of land uses resulting in an outmoded road design used in ways that it was not originally designed to facilitate. Contemporary transportation access management guidelines encourage safe and even traffic flow by minimizing the amount of access f' points to main arterial roads. According to MODOT's Access Management Guidelines, access points (for driveway spacing) to a state highway or primary, urban arterial ' roadway such as Olive Boulevard should be spaced 440 to 660 feet apart. Currently, the two access drives that front Olive Boulevard are spaced less than 50 feet apart. 3 a i The City's Public Works department assisted PGAV in the evaluation of Olive Boulevard's infrastructure. In a summary memorandum, the Public Works department 3 80759 3 PGAVU RBAN CO N S U LTI N G 1/08/08 April 7, 2008 J-1 to 6-25