UNIVERSITY CITY, MO - A re-development plan in University City has some businesses and homeowners feeling like they are being forced to relocate.
University City council members have decided that they want to re-invest in ward three which means introducing commercial development along a stretch of Olive just east of Interstate 170.
A company called Novus has been award the project and will use tax increment financing money.
So far Novus has already purchased most of the small businesses in the area and residents are worried they will be forced out too. In a meeting Monday, city council members made it clear that the company cannot use eminent domain on occupied homes, so if residents want to stay they can. Many residents said they don’t plan on moving.
City council members said this re-development plan will help with property values for the whole city, employment opportunities, and increased city revenue.
According to Novus’s plan online they want to have the whole project completed by summer/fall of 2020.