Abstract
ABSTRACT: St. Louis is one of many U.S. cities suffering from urban decay and fiscal crisis. To resolve these problems, the city has adopted a redevelopment program under Missouri State Statute 353. This Chapter 353 program grants private developers 25 years of tax abatement for making property improvements and permits them to accumulate property through the exercise of eminent domain. The program includes the city's entire central business district and has been extended to cover residential areas. This article discusses the research study on which this Chapter 353 program was based, points out a number of serious problems, and concludes that the program may, in fact, further reduce the city's fiscal integrity.
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