FIGURE 5-8
CDA-ASSISTED SITES BY FORM OF ASSISTANCE: 1960-1985

<table><thead><tr><th rowspan="2">Form of Assistance¹</th><th colspan="3">Assisted Projects</th><th colspan="2">Total Development Cost²</th><th rowspan="2">Average Cost (In Millions)</th></tr><tr><th>Number</th><th>Percent</th><th>In Millions</th><th>In Millions</th><th>Percent</th></tr></thead><tbody><tr><td>UDAG</td><td>28</td><td>3.4%</td><td>$ 78.7</td><td>$ 461.6</td><td>17.2%</td><td>$16.5</td></tr><tr><td>IRB</td><td>156</td><td>18.8</td><td>357.5</td><td>503.7</td><td>18.7%</td><td>3.2</td></tr><tr><td>SBA 503</td><td>96</td><td>11.6</td><td>15.5</td><td>71.5</td><td>2.7%</td><td>0.7</td></tr><tr><td>HUD 108</td><td>15</td><td>1.8</td><td>2.3</td><td>14.5</td><td>0.5%</td><td>1.0</td></tr><tr><td>HIP</td><td>139</td><td>16.7</td><td>70.1</td><td>400.6</td><td>14.9%</td><td>2.9</td></tr><tr><td>FSIP</td><td>104</td><td>12.5</td><td>5.1</td><td>41.5</td><td>1.5%</td><td>0.4</td></tr><tr><td>Pub. Imps.</td><td>11</td><td>1.3</td><td>3.0</td><td>148.3</td><td>5.5%</td><td>13.5</td></tr><tr><td>Other</td><td>44</td><td>5.3</td><td>9.8</td><td>27.1</td><td>1.0%</td><td>0.6</td></tr><tr><td>353</td><td>355</td><td>42.8</td><td>-</td><td>1,758.9</td><td>65.4%</td><td>4.4</td></tr><tr><td>99</td><td>141</td><td>17.0</td><td>-</td><td>1,101.0</td><td>40.9%</td><td>7.8</td></tr><tr><td>100</td><td>67</td><td>8.1</td><td>-</td><td>154.0</td><td>5.7%</td><td>2.3</td></tr></tbody><tfoot><tr><td>Total³</td><td>830</td><td>100.0%</td><td>$542.0</td><td>$2,690.6</td><td>100.0%</td><td>$ 3.2</td></tr></tfoot></table>

¹ UDAG Urban Development Action Grant
IRB Industrial Revenue Bonds
SBA 503 Small Business Administration Loans
HUD 108 HUD Section 108 Neighborhood Business Loans
HIP Housing Improvement Program
FSIP For Sale Incentive Program
Pub. Imps. City-Funded Public Improvements
353 Chapter 353 Redevelopment Corporations Project
99 Chapter 99 Urban Renewal Project
100 Chapter 100 Industrial Development Project

² Total cost of projects supported by each form of assistance.

³ Totals are less than sum of the above numbers. The differences are caused by the use of multiple assistance programs by some projects.

Source: St. Louis Community Development Agency, Assisted Sites Inventory, December 1985.

## ABOUT URBAN REDEVELOPMENT CORPORATIONS

* A redevelopment corporation formed under the Chapter 353 Urban Redevelopment Corporations law must be a private, for-profit operation with limited dividends.

* It must operate within a city-approved redevelopment plan for an area designated as being economically and/or physically blighted.

* It may acquire property by negotiation or by "borrowing" a city's powers of condemnation; it may hold and redevelop property, or sell or lease property to others.

* The corporation may receive and/or pass through property tax abatement on new assessment, up to full abatement for years 1 through 10 and 50 percent abatement for years 11 through 25. It must make payments in lieu of taxes to avoid a drop in tax revenues. It cannot benefit, however, from Industrial Development Authority bond financing where tax abatement is also allowed.

* The corporation may benefit from the Land Clearance for Redevelopment Authority (Chapter 99, urban renewal) bond financing if the project is in a URA area.

Figure 5-8, the city had received 28 UDAGs by the end of 1985, totaling nearly $80 million. The grants have supported projects ranging from such major commercial redevelopments as St. Louis Centre and Union Station to neighborhood economic development in the Union-Sarah area in the city's West End. Overall, UDAG-supported projects have incurred development costs of $461.6 million, which amounts to an average leverage ratio of $1 of UDAG money for every $4.90 of development costs from other sources.

The number of individual development projects assisted from 1960 through 1985 by these and related programs totals 830 and represents an overall investment of nearly $2.7 billion (in current, non-inflation-adjusted dollars). In addition, the downtown area alone has attracted approximately $1.1 billion in investment above and beyond the downtown projects, which were as-