Memba when I told you not to be so quick to cheer the $1 homes program because it was only designed to give affluent neglectful property owners like Paul Mckee a pass and get these derelict properties off the city’s books to make the city-county merger more attractive… There is money to fix these houses, its just not going to help poor people bamboozled into purchasing one of these homes…
“It’s SLACO that put the work into Prop NS, a ballot proposition that eked out passage by the narrowest of margins. By raising a very small tax on property owners — roughly $3 on a home valued at $150,000 — the proposition gives the city the authority to issue about $6 million in bonds every year for seven years.
SLACO believed the city would use the money to pay to fix up some the vacant homes owned by its Land Reutilization Authority, or LRA. With roughly $15,000 of investment per home, it believed those homes could be attractive to buyers and help the city eliminate its glut of 3,400 vacants.
But instead, McKinney charges, the city appears to be pushing through a plan to use the money to fix up as many as 200 homes that are already under option by developers and other prospective buyers.
McKinney says SLACO first became aware of the city’s plans on December 12, and immediately cried foul. “I said, ‘You can’t just give Prop NS money to people who have properties already under option,'” he says. “That’s not what the people voted on.””
Backers of Tax Hike for Vacant Homes Blast Mayor’s Office for Seizing Control
The grassroots community group that worked to persuade voters to raise taxes to shore up vacant homes in St. Louis has a message for City…