HB 2003 -- CONTIGUOUS PROPERTY REDEVELOPMENT FUND

CO-SPONSORS:  Kennedy, Gambaro, Hilgemann

COMMITTEE ACTION:  Voted "do pass" by the Committee on Municipal
Corporations by a vote of 12 to 0.

This bill creates the Contiguous Property Redevelopment Fund
within the Department of Economic Development to be used for
grants to the City of St. Louis for acquiring and redeveloping
contiguous properties within the city.  The department may
promulgate rules for the administration of the program,
including the form by which the City of St. Louis may apply for
the grants.  The department is to give preference to those
projects proposing the assembly of a greater number of acres
than other projects and those projects for which a private
interest in the usage of the property exists, once redevelopment
of the property is completed.

FISCAL NOTE:  Cost to General Revenue Fund of $0 in FY 2001,
$3,000,000 in FY 2002, and $3,000,000 in FY 2003.  Totals are
subject to appropriation.  Estimated Net Effect on the
Contiguous Property Redevelopment Fund of $0 in FY 2001, FY
2002, and FY 2003.  Totals are subject to appropriation.

PROPONENTS:  Supporters say that there are numerous undeveloped
and abandoned contiguous properties in the City of St. Louis.
This bill would allow the City of St. Louis to apply for grants
for the purpose of acquiring such properties and assisting in
the initial redevelopment of multiple contiguous properties for
future development.

Testifying for the bill were Representative Kennedy; City of St.
Louis; and St. Louis Redevelopment Corporation.

OPPONENTS:  There was no opposition voiced to the committee.

Joseph Deering, Legislative Analyst

HB 2003 -- Contiguous Property Redevelopment Fund

Co-Sponsors:  Kennedy, Gambaro, Hilgemann

This bill creates the Contiguous Property Redevelopment Fund
within the Department of Economic Development to be used for
grants to the City of St. Louis for acquiring and redeveloping
contiguous properties within the city.  The department may
promulgate rules for the administration of the program,
including the form by which the City of St. Louis may apply for
the grants.  The department is to give preference to those
projects proposing the assembly of a greater number of acres
than other projects and those projects for which a private
interest in the usage of the property exists, once redevelopment
of the property is completed.