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OLIVE&MIDLAND URBAN RENEWAL PROJECT AREA
<br /> UNIVERSITY CITY LAND CLEARANCE FOR REDEVELOPMENTAUTHORITY a
<br /> a
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<br /> uses and building requirements in the land clearance or urban renewal project area
<br /> are designed with the general purpose of accomplishing, in conformance with the
<br /> general plan, a coordinated, adjusted and harmonious development of the
<br /> community and its environs which, in accordance with present and future needs, will
<br /> promote health, safety, morals, order, convenience, prosperity and the general
<br /> welfare, as well as efficiency and economy in the process of development; including,
<br /> among other things, adequate provision for traffic, vehicular parking, the promotion of
<br /> safety from fire, panic and other dangers, adequate provision for light and air, the
<br /> promotion of the healthful and convenient distribution of population, the provision of
<br /> adequate transportation, water, sewerage, and other public utilities, schools, parks, €'
<br /> recreational and community facilities and other public requirements, the promotion of
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<br /> sound design and arrangement, the wise and efficient expenditure of public funds,
<br /> the prevention of the recurrence of insanitary or unsafe dwelling accommodations, or
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<br /> insanitary areas, or conditions of blight or deterioration, and the provision of
<br /> adequate, safe and sanitary dwelling accommodations.
<br /> (7) The recommendation of a redevelopment or urban renewal plan by an
<br /> authority to the governing body shall be accompanied by the recommendations, if
<br /> any, of the planning commission concerning the redevelopment or urban renewal s
<br /> plan; a statement of the proposed method and estimated cost of the acquisition and
<br /> preparation for redevelopment or urban renewal of the land clearance or urban
<br /> renewal project area and the estimated proceeds or revenues from its disposal to
<br /> redevelopers; a statement of the proposed method of financing the project, a
<br /> statement of a feasible method proposed for the relocation of families to be displaced
<br /> from the land clearance or urban renewal project area; and a schedule indicating the
<br /> estimated length of time needed for completion of each phase of the plan.
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<br /> The proposed method of acquiring the properties is outright purchase of the property
<br /> and, failing acceptance of an offer, condemnation and eminent domain. The
<br /> estimated cost of acquisition has been determined using the St. Louis County
<br /> appraised value, and an estimated range of an additional 10%. The properties under
<br /> consideration for purchase include 7301 Olive (#17J421228) and 7315 Olive
<br /> (#17J421118). The estimated cost of purchasing these properties is $238,000 -
<br /> $261,800 and $91,900 - $100,100, respectively. The total estimated cost of property
<br /> acquisition in the Area is $329,900 - $361,900. The estimated proceeds from
<br /> disposal of the property to interested parties is less than $10,000. The proposed
<br /> method of financing the project is to utilize revenues from the Olive Central
<br /> Boulevard TIF District. No families are intended to be displaced as a result of the
<br /> Program or Plan. The following schedule indicates the estimated maximum length of
<br /> time needed for completion of each phase of the Plan.
<br /> Phase Years from Approval of Program&Plan
<br /> 1 2 3 4 5 6 7
<br /> Land Acquisition
<br /> Request for Proposals g
<br /> Developer Selection
<br /> Disposal of Property
<br /> (8) The governing body of the community shall hold a public hearing on any
<br /> redevelopment or urban renewal plan or substantial modification thereof
<br /> 80759 12 PGAVU RBANCO N S U LTI N G
<br /> 1/08/08 i
<br /> April 7, 2008 J-1 to 6-34
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