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P <br /> OLIVE&MIDLAND URBAN RENEWAL PROJECT AREA <br /> UNIVERSITY CITY LAND CLEARANCE FOR REDEVELOPMENT AUTHORITY <br /> tt: <br /> Parcel 1 in the Area is vacant. Vacant commercial buildings provide no sales taxes and q <br /> very little in personal property taxes. Vacancies also reduce the assessed value of the <br /> commercial properties since the County Assessor utilizes income as a basis for <br /> establishing market and assessed values. <br /> Table 2-1 <br /> EAV Data per Square Foot =` <br /> Olive and Midland Urban Renewal Project Area <br /> Map ID Property Address 2007 Acres EAV/SF } <br /> Parcel Assessment <br /> 1 7315 Olive Boulevard $29,410 0.13 5.19 " <br /> 2 7301-7309 Olive Boulevard $76,160 0.45 3.89 <br /> Total $105,570 0.58 4.18 <br /> SUMMARY OF FINDINGS I <br /> t <br /> g <br /> The Area meets the requirements for a Blighted Area within the requirements of the }` <br /> LCRA Law by reason of the predominance of defective or inadequate street layout, <br /> insanitary or unsafe conditions, deterioration of site improvements, improper subdivision <br /> or obsolete platting, or the existence of conditions which endanger life or property by fire <br /> and other causes, or any combination of such factors, retards the provision of housing <br /> accommodations or constitutes an economic or social liability or a menace to the public <br /> health, safety, morals or welfare in its present conditions and use. <br /> The blighting factors in evidence in the Area include: <br /> b <br /> E' <br /> ■ Defective or Inadequate Street Layout; <br /> ■ Insanitary or Unsafe Conditions; <br /> ■ Deterioration of Site Improvements; <br /> ■ Improper Subdivision or Obsolete Platting; and <br /> ■ Vacancy and substandard tax contribution. <br /> t <br /> Based upon the forgoing analysis, the Area constitutes an economic liability. In addition, R <br /> after individually considering all of the properties in the Area in light of the definition of a <br /> "blighted area" under the LCRA Law, it is concluded that a predominance of the Area is <br /> blighted pursuant to Section 523.274 R.S. MO. <br /> F <br /> 80759 7 PGAVU RBAN CO N S U LTI N G <br /> 1/08/08 <br /> April 7, 2008 J-1 to 6-29 <br />