What a Difference a Year Makes: Saint Louis City’s Land Bank, the LRA
In February of this year, the Show-Me Institute published a study by Policy Analyst Audrey Spalding, detailing the operations and history of the oldest land bank in the 50 states, Saint Louis city’s Land Reutilization Authority, The LRA. In 1971, the LRA was created with the state purpose to return tax defunct or abandoned properties into private, productive hands. What Audrey Spalding’s policy study, “Standstill: Is Saint Louis Hindering Development by Waiting for Large-Scale Miracles?” showed is a history of denying or delaying private citizens’ attempts to purchase land from the LRA. In this video, Spalding reports with relief that the latest LRA meeting represents a sea change in LRA operation, in terms of approving offers to buy property. At the September meeting, not one offer was rejected.