About LRA
St. Louis Development Corporation (SLDC) — which houses and staffs the Land Reutilization Authority (LRA) — facilitates real estate development throughout the City of St. Louis, Missouri and performs land assemblage for future development. SLDC’s goal is to bring all LRA-owned property into productive and effective use by utilizing a variety of tools and resources.
LRA receives title to all tax delinquent properties not sold at the Sheriff's sale. It also receives title to properties through donations. LRA has the authority to manage, maintain, market and sell agency-owned unoccupied and abandoned buildings and property through the Missouri Revised Statutes, Chapter 92, Section 92.875.
What is the Land Reutilization Authority (LRA)?
Established in 1971, LRA is the OLDEST LAND BANK in the United States. It has the authority to manage, maintain, market and sell vacant and abandoned buildings and property owned by the agency in St. Louis.
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The image is an infographic titled "Land Banks: Strengthening Our Neighborhoods," provided by the Land Reutilization Authority (LRA). It explains the purpose of land banks, how they operate, and their impact on communities.
Sections:
1. What is a Land Bank?
A land bank is a government agency that focuses on converting vacant, abandoned, and tax-delinquent properties into productive use, aligning with long-term community goals.
2. How Does it Work?
Acquire Property: Properties are obtained at a low cost through the tax foreclosure process.
Eliminate Liabilities: Clear titles and back taxes are managed.
Transfer Property: These properties are transferred to responsible owners, based on community needs and planning.
An illustration of a contract document with a stamp is provided to visually depict the process of property acquisition.
3. Why Does it Matter?
The infographic highlights that inaction exacerbates problems, destabilizing neighborhoods. The "spiral of blight" worsens communities if not addressed.
This section includes an image of a tree representing growth and the environment, supporting the concept of community revitalization.
4. Impact on Communities:
Communities are Paying the Price for Vacant and Abandoned Properties:
Decreased property values
Higher insurance premiums
Fire and safety hazards
Neighborhood population decline
Weakened community
Poor quality of life
Draining Local Tax Dollars:
No tax revenue, property maintenance costs, and demolition expenses.
The illustration of a dilapidated house depicts the state of vacant and abandoned properties that become financial burdens on the community.
5. What Happens to the Land Bank Properties?
Residential Home Sales: Properties are sold to single-family homeowners or housing developers.
Side-Lot Sales: Lots are sold to adjacent homeowners, often too small for construction.
Commercial Property Sales: Properties are sold "as-is" to buyers contributing to economic development and job creation.
The image transitions from an old, decaying house to a modern, revitalized home with trees and a well-maintained landscape, symbolizing the positive effects of land bank properties being sold and rehabilitated.
6. LRA Branding:
The Land Reutilization Authority (LRA) logo is in the top right corner with the slogan "Reform. Revitalize. Reactivate."
“LRA’s vision for a transformative future focuses on a block-by-block approach to redevelopment.”
— Shelton Anderson, VP of Real Estate — LRA
Properties & Possibilities
The Land Reutilization Authority (LRA) of the City of St. Louis is responsible for the stewardship and sale of previously abandoned and foreclosed properties. With programs designed to convert these unoccupied properties back into productive use, the LRA strives to provide housing, new industry and jobs for citizens, and returned tax revenues for the City of St. Louis.
In alignment with the Economic Justice Action Plan, LRA’s new sales policies and programs seek to:
Enhance economic empowerment of communities.
Promote equity and inclusivity in development initiatives.
Transform neighborhoods for positive impact.
Occupancy Opportunities
LRA’s purchase programs describe offer and sale requirements, with guidelines that are designed to ensure successful property reuse projects. Each LRA program plays a proactive role in fostering positive change and development in St. Louis through strategic property management and sales.
LRA Board of Commissioners
The Land Reutilization Authority is a development board staffed by SLDC. Offers to purchase properties are reviewed by the LRA Board of Commissioners, who may choose to accept, counter or deny the offer to purchase.
* Offers submitted by noon on the Cut Off Date are usually presented to the Commission on that month’s agenda, but due to the extremely high volume of offers presented on the Cut Off Date, and limited staff to process them, we can no longer guarantee that offers received on that date will be placed on the next agenda. To ensure your offer is on the agenda, please submit it as early in the month as possible.