An Alphabet of Tools for Projects: Chapter 353

In Uncategorized by EDCKC Staff

The EDC houses several programs dedicated to blight removal and redevelopment, however, there can be some uncertainty understanding the right tool for your project. For instance, the Chapter 353 program, which refers to the enabling legislation in the Revised Statutes of Missouri.

Chapter 353 was created for developers to apply to their commercial, industrial, and multi- and single-family home projects with the possibility of up to a 25-year property tax abatement. Now, the requirements are as simple as creating an Urban Redevelopment Corporation but can get complicated regarding the public notice obligations, which tends to be why developers shy away from pursuing the program.

Chapter 353 is suited for developers with sights on a single property or project (aka “footprint plans”), which will minimize the extent of the notices required to be sent to taxing jurisdictions, occupants, and property owners. Though the tool is more fitting for small-scale projects, it’s not entirely impossible to do larger areas and projects.

Chapter 353 touts the Beacon Hill neighborhood as its most recognized project. Click here to learn more about how this tool helped revitalize the historic Beacon Hill neighborhood since it broke ground.