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Issue: 1092 Date: 7/28/2011
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UNIVERSITY CITY WILSON AVENUE BUYOUT
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| Flood-swollen River Des Peres, after Sept. 2008 storms |
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UNIVERSITY CITY, Mo., July 21, 2011-The City of University City has received an environmental release from the Department of Economic Development (DED) for funds from the Community Development Block Grant (CDBG) to be allocated for the voluntary buyout of 26 homes on Wilson Avenue that were severely damaged in the September 2008 flooding of the River Des Peres.
To finance the buyout, the City is using $539,000 of its reserve funds in combination with $461,000 from a Community Development Block Grant and $ 3,000,000 in FEMA (Federal Emergency Management Agency) funds for a combined total of $4,000,000.
"We have met with 21 of the 26 property owners on an individual basis to discuss the official offer worksheets," said City Manager Lehman Walker. "Property owners who have been unable to meet with us will receive worksheets via certified mail. We want to ensure that everyone who has the opportunity to participate in the buyout receives the information they need to make an informed decision."
The buyout program is a voluntary legal transaction available to 26 residents of Wilson Avenue. Once the City assumes ownership of the property, the buildings will be demolished, and the land will be cleared.
For more information about the Wilson Avenue buyout, visit www.ucitymo.org.
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| Map of Wilson Ave near River Des Peres |
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