O slideshow foi denunciado.
Utilizamos seu perfil e dados de atividades no LinkedIn para personalizar e exibir anúncios mais relevantes. Altere suas preferências de anúncios quando desejar.

LRA_presentation2011[1]

2.978 visualizações

Publicada em

  • Seja o primeiro a comentar

  • Seja a primeira pessoa a gostar disto

LRA_presentation2011[1]

  1. 1. LRA Land Reutilization Authority Real Estate Department Status Report Through Fiscal 2012 St. Louis Development Corporation 1520 Market, Suite 2000 St. Louis, Missouri 63103 (314) 657-3700, ext. 3721 www.stlouis-mo.gov/sldc/real-estate Francis G. Slay Mayor, City of St. Louis
  2. 2. Topics To Be Covered • Perceptions/misperceptions about LRA • LRA background • Current operations and facts • Best practices of similar land bank type organizations • Recommendations
  3. 3. Perceptions/Misperceptions About LRA • It is difficult to buy LRA property. • LRA does not want to sell its property. • LRA is too expensive. • LRA sells properties for $1. • Aldermen have too much control. • LRA does not maintain its property. • Every vacant/abandoned building in the City is an LRA building. • LRA commission rejects most purchase offers, thwarts development. • LRA picks winners and losers. • LRA should sell to anyone who makes an offer.
  4. 4. Land Reutilization Authority • The Land Reutilization Authority (LRA) is a public agency created by State statute in 1971 to address problems caused by large-scale abandonment of privately-owned properties. • LRA acts as the land trustee for tax-foreclosed properties in the City of St. Louis. • A three-member Board of Commissioners meets monthly to act on offers that have been submitted. • The Mayor, the Comptroller, and the Board of Education each appoint one Commissioner (§92.200 RSMo).
  5. 5. Land Reutilization Authority • LRA’s mission is to “return land which is in a non-revenue generating, non-tax producing status to effective utilization in order to provide housing, new industry, and jobs for the citizens as well as new tax revenue for the City” (§92.875 RSMo).
  6. 6. Real Estate Department LRA Administrative Staff (9) LCRA PIEA Maintenance Staff (7) Demolition Specialist (1) SLDC
  7. 7. Land Reutilization Authority SLDC Real Estate Department performs the following functions: – Sales – Documentation – Maintenance – Marketing – Demolition – Site preparation – Acquisition
  8. 8. LRA Property Reuse Decision Tree LRA receives property: • Tax foreclosure • Donation • Purchase Demolish Building Preserve Sell as-is Building Rehab & sell (CDA) Board & secure Sell vacant lot for infill or side lot Short-term green use •Garden •Adopt-a-lot Long-term green use •MSD runoff reductions •Pocket parks •Permanent gardens Time Horizon Longer Shorter Sell vacant lot for infill or side lot
  9. 9. How LRA receives property • Tax Foreclosure Sales – Usually 4-5 per year. – To date, 80% of LRA parcels were received from tax foreclosure sales. • Donations – Owners/family abandon property. – Owners cannot continue to maintain. – Banks donate foreclosed properties. – Mayor’s Problem Property Initiative. • Acquisitions
  10. 10. Commission Considerations when Selling a Property • Ensure sale is consistent with City’s Strategic Land Use Plan • Ensure offeror has plans, budget, & financing to complete the project • Coordinate with Alderman & neighborhood groups to ensure sale does not negatively impact plans for ward or neighborhood • Take advantage of the number of parcels we own in an area to assemble large tracts to attract businesses/industries which create jobs and increase tax revenue
  11. 11. LRA Parcel Inventory • Inventory on 1/1/2000: 9,358 parcels • Parcels received over 11 years: 5,640 • Parcels sold over 11 years: 4,193 • Inventory on 4/30/11: 10,625 (includes 266 LCRA/PIEA) – Vacant lots: 8,775 – Improvements (billboards, etc.): 100 – Buildings: 1,750 • In the City, there are approximately 6,000 abandoned buildings. • Agency-owned parcels account for 1,369 acres, or 4.5% of the City’s parcel acreage. • LRA is owner of last resort. • LRA has never received purchase offers on 46% of its inventory.
  12. 12. LRA Properties & Housing Conservation Program Areas • Conservation Districts started in 1985 and expanded in most Southside Wards in the late 80s & early 90s. • Most Northside Wards added in late 2000s • 3,143 LRA owned properties are not in Housing Conservation Areas. • Wards 1 & 5 not in Conservation Program – Most of Ward 18 – About 2/3 of Ward 19 – Less than 1/2 of Ward 6 – A very small part of Ward 4 • Lack of inspections and code enforcement in non-Conservation Areas contributed to deterioration of housing stock
  13. 13. LRA Parcel Status Available for sale Offer Accepted offer Option Garden lease Lease Unavailable* 8,802 46 104 782 296 30 560 Total: 10,620 * LCRA/PIEA 266 - 72 billboards, 2 cemeteries, McKinley Bridge, Hall Street landfill, Cass Bank building & parking lot, St. Louis Enterprise Center & Center for Emerging Technologies (small business incubators).
  14. 14. Acquisitions & Sales since 2000 Year Acquisitions Sales Tax Sales Donations Purchases Total Side Lots Vacant Ground Buildings Total 2000 570 66 86 722 109 439 89 636 2001 524 48 99 671 96 431 93 620 2002 364 41 137 542 102 274 84 460 2003 412 46 105 563 28 258 81 367 2004 269 61 81 411 31 411 107 550 2005 231 28 102 361 32 215 90 337 2006 244 28 83 355 27 204 84 315 2007 238 26 57 321 25 205 82 312 2008 273 52 76 401 19 104 25 148 2009 504 44 182 730 18 163 46 227 2010 458 33 72 563 17 151 52 220
  15. 15. Example Agency Ownership by City Block No Agency Properties Up to 30% Agency Properties 31-60% Agency Properties 61-99% Agency Properties 100% Agency Properties 4,062 blocks 1,415 blocks 298 blocks 59 blocks 8 blocks There are 5,842 blocks in the City of St. Louis, and the Agencies (LRA, LCRA, PIEA) own property on 1,780 blocks, or on 30% of blocks. The Agencies only own 1 or 2 parcels on 765 of those blocks.
  16. 16. LRA Ownership by Ward: 1-14 Ward Agency Owned Parcels Total Parcels in Ward % Agency Owned Parcels Agency Owned Acres Total Acres in Ward % Agency Owned Acres 1 521 4,604 11.3% 54.43 664 8.2% 2 413 5,008 8.2% 122.59 3,926 3.2% 3 1,667 5,703 29.2% 156.76 695 22.5% 4 1,648 6,053 27.2% 168.19 737 22.8% 5 1,415 5,580 25.4% 210.72 1,362 15.5% 6 153 4,445 3.4% 14.77 1,205 1.2% 7 124 4,839 2.6% 20.86 1,563 1.3% 8 25 3,403 0.7% 2.96 874 0.3% 9 161 4,662 3.5% 14.44 1,094 1.3% 10 8 4,996 0.2% 1.08 1,133 0.1% 11 64 5,170 1.2% 42.47 1,152 3.7% 12 6 5,352 0.1% 30.20 1,077 2.8% 13 25 4,744 0.5% 2.38 785 0.3% 14 17 4,074 0.4% 3.22 580 0.6%
  17. 17. LRA Ownership by Ward: 15-28 Ward Agency Owned Parcels Total Parcels in Ward Agency Owned Parcels Agency Owned Acres 15 24 3,964 0.6% 2.14 16 3 5,154 0.1% 0.33 17 91 3,615 2.5% 11.06 18 577 4,715 12.2% 64.81 19 614 3,607 17.0% 65.45 20 139 3,606 3.9% 11.82 21 420 4,528 9.3% 49.17 22 1,315 5,410 24.3% 170.49 23 17 5,626 0.3% 1.12 24 36 5,770 0.6% 7.12 25 44 3,536 1.2% 4.60 26 412 3,997 10.3% 66.65 27 665 5,029 13.2% 67.26 28 16 2,343 0.7% 2.16 Totals 10,620 129,533 8.2% 1369.41
  18. 18. Maintenance • Maintenance Crew – Staff of seven – Receive approximately 300 calls monthly from citizens, Aldermen, Neighborhood Stabilization Officers, Building & Health Inspectors, and police. – Tasks include: • Board-up agency-owned buildings • Minor repairs to buildings • Remove and trim trees • Cut grass and weeds • Respond to citizens and elected officials • Assistance from City – Forestry Department – Building Division
  19. 19. Demolitions • Demolitions – Structure rating – Priorities • Public Safety – Those buildings posing an eminent threat to adjacent occupied property • Buildings in areas of planned/proposed development • Public/aldermanic requests
  20. 20. LRA Demolitions by Fiscal Year 5/2/2011 Fiscal Year Buildings Demolished Total Cost of Demolition Average Cost per Building Funding Source 2012 67 $566,700.00 $8,458.20 Use Tax/MSD 2011 204 $ 1,417,312.00 $ 6,947..29 MSD 2010 142 $ 989,203.00 $ 6,966.22 Use Tax 2009 232 $ 1,998,595.00 $ 8,614.63 Use Tax, LDF, SLDC 2008 239 $ 1,988,119.75 $ 8,318.49 Use Tax, LDF, SLDC 2007 307 $ 2,296,154.00 $ 7,479.33 Use Tax, LDF, CDBG 2006 224 $ 1,735,527.00 $ 7,747.89 Use Tax 2005 276 $ 2,323,742.00 $ 8,419.36 Use Tax, Bond Issue 2004 180 $ 1,450,051.00 $ 8,055.84 Use Tax, Bond Issue, Fed Grant 2003 193 $ 1,356,129.77 $ 7,026.58 Bond Issue, Fed Grant, CDBG 2002 239 $ 2,310,256.00 $ 9,666.34 Bond Issue 2001 127 $ 1,021,841.00 $ 8,045.99 Bond Issue 2000 137 $ 1,075,045.00 $ 7,847.04 Bond Issue, CDBG, Bldg Div Totals 2,567 $20,528,657.52 $7,997.13 Notes: (1) Avg cost of demo per bldg vary due to size of structures demolished & market. (2) Land Development Fund (LDC) – a MO State Tax credit to support dev on North Riverfront
  21. 21. Sales Policy Standard value price (SV) is based on assessor evaluations for neighborhoods & is modified by staff using its expertise. • Properties with buildings - $1,000/unit • Vacant ground – Residential new construction • Price per front foot = 125’ x (1/2)(SV) – Side lot • Price per front foot = 125’ x (3/8)(SV) • Commercial & riverfront property – Appraised value • Garden leases – $1.00/year, up to 5 years – Lease may be cancelled with 30-day notice.
  22. 22. Marketing Properties – City website – Featured properties – Metropolitan Board of Realtors – Neighborhood organizations – Multiple Listing Service (MLS)
  23. 23. Developments Facilitated by Community Development Agency (CDA) Since 2001, CDA has spent over $19.2M in Community Development Block Grant (CDBG) funds on property acquisition and rehabilitation for 214 projects which are now complete. These projects provided 580 residential units and green space, commercial uses, parking lots, & community gardens. Currently, CDA has $3.5M in CDBG funds invested in 20 projects which are underway and will result in 128 residential units. All of these projects were built on parcels which LRA acquired on behalf of CDA.
  24. 24. Before and After N 14th STREET MALL – 2711 N 14TH Street
  25. 25. Before and After 1922 CHOUTEAU
  26. 26. Before and After 3721 Salena
  27. 27. Before and After 2141 Angelica
  28. 28. Before and After N 14TH STREET MALL 2601 N. 14th Street
  29. 29. Before and After 4063 Evans Avenue
  30. 30. Before and After Habitat for Humanity 2009 Build
  31. 31. Before and After Harrison Education Center 3140 Cass Avenue
  32. 32. Significant Projects using LRA Parcels • Gate District • Cardinal Ritter College Prep • Harrison Education Center (St. Louis Community College) • Habitat for Humanity • Vashon High School • West End Housing • Gaslight Square • MLK Plaza • City Hospital • CB 6132, Ward 22 (Horse Shoe)
  33. 33. Best Practices: Holding All Building Owners Accountable 1. Pursue vigilant, proactive enforcement of all property maintenance codes. 2. Require property owners to register. 3. Impose fines & criminal penalties for repeat property maintenance code offenders. 4. Obligate purchasers of distressed property to rapidly bring property up to code. 5. Enforce & enhance nuisance abatement laws. 6. Coordinate with prosecutors, municipal attorneys, and judges to aggressively enforce relevant State & City codes.
  34. 34. Best Practices: Holding Vacant Property Owners Accountable 1. Require owner to set & keep a timeline for rehab & reoccupation of a vacant property. 2. Charge vacant property fees to finance associated City tasks. 3. Require vacant property owners to register with City and obtain a local registered agent. 4. Require buyers to guarantee vacant buildings will be brought up to code & occupied as a condition of purchase. 5. Require vacant property owners to maintain liability insurance. 6. Establish or use a housing court to hold unresponsive absentee owners accountable. 7. Authorize a receiver to rehab or demolish a property. 8. Hold lenders responsible for maintenance and sale to a responsible owner. 9. Raise vacant property owners’ property tax. 10.Make ownership information available to neighbors.
  35. 35. Best Practices: Holding Rental Property Owners Accountable 1. Establish rental registry or rental license requirement. 2. Adopt a rental housing inspection ordinance to require inspection at the time of sale or change of tenant. 3. Partner with Housing Authority to ensure Section 8 rental property owners keep their property in good repair. 4. Offer tax abatements for property investment in distressed neighborhoods. 5. Adopt a Smart Rehab Code to bring down costs of renovation.
  36. 36. Survey Results • Surveys sent out: • Responses received: • Positive comments: • Negative comments: 91 22 20 3 • Respondents requested to rate LRA performance, 1-5 (most positive = 5 ; most negative = 1) • Average rating: 4.8
  37. 37. Suggested Changes from Respondents • Waive additional option fees if extensions are needed for issues outside of developers control • Reduce the need for aldermanic approval/input- No longer waiting for aldermanic approval for side lots, irregular parcels and single family buildings that will be rehabbed and occupied. • Side lot and vacant ground prices too high Reevaluated and reduced sq. ft. price in neighborhoods with declining property values, reduced side lot price to 3/8 of standard price, increased front foot “buildable lot” restriction from 25 feet to 35 feet and more.
  38. 38. Suggested Changes from Respondents • Remove reversionary clause when closing includes bank financing and/or equity investment Subordinate reversionary clause to Lenders • Market more valuable properties with realtors Developing lists of realtors to market, list and sell LRA properties • Compensate brokers Will pay minimum commission required by most office brokers
  39. 39. Recommendations • Stop competing with private developers for tax sale properties – No CDA purchases have been made since 2011 • Review & adjust sales prices downward - ongoing • Better market properties & processes – Developing list of realtors to list, market and sell LRA properties • Improve quality & quantity on webpage – new site allows buyers to find properties by neighborhood, square footage, usage etc. instead of ward only • Make all application forms available and interactive on webpage pending. • Periodically survey LRA clients - ongoing • Create guidelines or seek ordinance to allow irregular lots to be annexed by adjacent property owner. • Find ways to incentivize realtors to market & sell LRA property – agree to minimum commission requirement • Work with churches, non profits and citizens groups to adopt LRA parcels in their neighborhoods – sending LRA lists to alderman, CDA housing analysts and neighborhood organizations
  40. 40. Recommendations continued… • Seek aldermanic input only on: – Sales of parcels for large scale projects – Any sale for the purpose of opening a business • Aldermanic input will not be sought on: – Sale of side lots and irregular lots – Sale of vacant single lots – Garden leases – Sale of single family buildings that are to be rehabbed and occupied Aldermen will still be notified of pending offers, but approvals will not be deferred for more than a month
  41. 41. Recommendations • Articulate a clear vision of the City’s future that includes a strong role for land & building reuse & reconfiguration. • Engage City residents in the process of thinking through vacant property reuse & land reconfiguration strategies, being up front about the challenges ahead. • Avoid “quick fix” transactions which offer little long-term benefit, & focus instead on systemic change for long-term transformation. • Partner with CDCs, community organizations, churches, & others to leverage limited public sector resources. • Work with developers & non-profits to develop LRA & other abandoned properties in ways that advance neighborhood stabilization & revitalization efforts. • Ensure foreclosed properties are maintained during foreclosure & conveyed to responsible owners. • Work with lenders to create or legislate programs to ensure adequate mortgage capital is available to support credit-worthy home buyers & sound economic development projects.
  42. 42. LRA Action Plan to Reduce Inventory • Sale of properties to Northside Regeneration LLC. • Sell all irregular lots. • Push for sale of side lots. • Sell all LCRA/PIEA lots held for development. • Transfer to City, Metro, or MODOT all property in ROW. Potential Reduction in # of Parcels 594 520 266 50 Total: 2688

×