St. Louis city can’t afford to maintain 12,000 vacant properties
ST. LOUIS, MO — The Land Reutilization Authority now owns almost half of St. Louis city’s vacant properties. The St. Louis Post-Dispatch reports that the city`s land bank now owns 12,000 properties that no one wants, and it can’t afford to maintain them.
The LRA sells somewhere between 500 and 550 properties a year but it can`t seem to make a significant dent in the amount of land under its control. Some representatives on the Board of Aldermen have called on the land bank to be more aggressive in reducing its inventory.