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Historical April–May 2017 article. Dates, prices, services and contacts describe the source period; current availability has not been established.
It’s Time to Take Care of Our Neighborhoods!
On April 4, you’ll also have the opportunity to vote for something that will affect you and your neighbors regardless of whether you have vacant properties nearby or not. For about $11 a year for a $100,000 home, you can help turn city-owned derelict buildings into homes for families. Proposition NS (neighborhood stabilization) would: • Stabilize and secure city-owned residential buildings deemed to be “rehab-able.” This would include tuck-pointing, repairing or replacing the roof, and complete board-up to make them water tight to bring them up to pre-rehab condition.
The allowable work is specifically spelled out in the proposed ordinance, and could not be used for HVAC, electrical systems or anything else. • Neighborhoods will have an opportunity to help select which homes are stabilized. • The stabilized homes would then be put up for auction to the highest bidder.
The LRA will not set the price – the market will. • These properties would go back on the tax rolls and become a source of income for the city instead of an expense. • Stabilized homes could only be sold individually, discouraging big developers. • No more than $6 million in bonds could be sold in any one year up to $40 million over about six years.
The bonds would be paid back with a property tax increase of just $11 per year on a $100,000 home.
The city loses $7 million per year in property taxes as a result of the vacant properties we own. About $4 million of that would have gone to the St. Louis Public School System.
This is just one of the many ways vacant buildings are costing us. FREQUENTLY ASKED QUESTIONS: Who will control the money? Once approved by voters, the bonds would be sold and the funds would go to the St. Louis Development Corporation, the city’s development arm.
The SLDC must draft procedures for use of the bonds- following the dictates of the ordinance- which are then approved by the three-member Board of Estimate and Apportionment.
The LRA (Land Reutilization Authority), which is overseen by the SLDC, would put the stabilization work out for bid according to city guidelines, and paid for with the bond proceeds. Who will decide which properties are stabilized?
The selection process is not spelled out in the ordinance. Neighbors for a Stable St. Louis is proposing an advisory commission. Neighborhoods, non-profits and others would submit applications which would then be evaluated according to criteria determined by the commission with resident input.
The commission would submit a recommendation to the LRA.
The process is designed to be transparent at each step along the way. It’s the Neighborhoods’ Turn! VOTE YES for Proposition NS On April 4 For more information: www.Neighbors4StableSTL.org email: Neighbors4StableSTL@gmail.com
Originally published in The Times of Skinker-DeBaliviere, April–May 2017.
Read this article in the original newspaper issue.
Original source: SD_Times2017_04.pdf, printed page(s) 1; PDF page(s) 1.
