City and Fed Soon to Sign Agreement on Land for NGA
Date Posted: December 29, 2016
Posted In: Projects,
From St. Louis Public Radio: The city of St. Louis officially owns all the land of the proposed new $1.75 billion National Geospatial-Intelligence Agency facility.
The Land Clearance for Redevelopment Authority closed on the last of the 551 parcels this month.
Soon the LCRA, the NGA and the Army Corps of Engineers will sign an options agreement for the land. Once they do, the city will have exactly one year to prepare the site.
“We will have to demolish all the structures, we will have to remove all of the utilities and remediate any environmental concerns that might be there and clear and grub the entire site,” said Otis Williams, executive director of the St. Louis Development Corporation.
The development corporation has begun issuing requests for bids and proposals for fencing, security and environmental abatement.
The city also plans to close on bonds early next month. Williams said they expect to sell $93 million in the first issue of bonds and another $15-16 million in the second.