After the May 16th tornado, corporate developers and slumlords are circling our neighborhoods like vultures.

We demand the St. Louis Board of Aldermen pass the Equitable & Green Recovery Act to:

• STOP displacement with a 180-day moratorium on investor home buys.
• CREATE a public bank to fund Black and working-class families.
• REBUILD with climate-resilient, energy-efficient housing.

Sign now to tell City Hall: Recovery must put PEOPLE over profits!

-------

ST. LOUIS EQUITABLE AND GREEN RECOVERY ACT (Summarized)
Legislative Proposal for Post-Disaster Reconstruction and Community Stabilization

Purpose:
To establish comprehensive relief measures following the May 16, 2024 tornado, with provisions to prevent displacement, ensure equitable redevelopment, promote climate-resilient infrastructure, and protect vulnerable residents and businesses.

Key Provisions:

I. Property and Displacement Protections

A. 180-day moratorium on transfer of residential and commercial properties in designated disaster zones, with exemptions for:

• Transfers between family members
• Nonprofit organizations and community land trusts
• City-approved affordable housing developers

B. Right of First Refusal granted to:

• Displaced tenants for rental units
• Former homeowners for residential properties
• Small business owners for commercial properties

II. Affordable Housing Requirements

A. Mandates 60% of units in new developments be affordable to households at or below 50% Area Median Income
B. Establishes long-term affordability covenants (minimum 30 years) for rebuilt properties

III. Financial Mechanisms

A. Creates St. Louis Public Recovery Bank with $50 million initial capitalization to provide:

• Zero-interest loans for home reconstruction
• Small business recovery financing
• Debt restructuring programs

B. Implements 25% transfer tax on speculative property resales within 24 months

IV. Climate-Resilient Reconstruction Standards

A. Requires all city-funded projects to meet FEMA Resilience Building Standards
B. Establishes tiered incentives for:

• Energy-efficient building materials
• Renewable energy systems
• Stormwater management infrastructure

V. Utility and Essential Services Protections

A. Freezes utility rates at pre-2023 levels for affected areas for 36 months
B. Implements seasonal moratorium on service disconnections (November 1 - March 31)
C. Creates utility debt relief program for low-income households

VI. Workforce and Economic Development

A. Local Hiring Requirements:

• 80% of labor hours on reconstruction projects to St. Louis residents
• Priority hiring from most impacted ZIP codes

B. Small Business Support:

• $75,000 maximum recovery grants
• Technical assistance for worker cooperative conversion

Funding Sources:

• Reallocation of existing city/county disaster funds
• Disaster Profiteering Penalty (25% tax on speculative transactions)
• State and federal disaster recovery grants
• Potential bond issuance

Implementation Timeline:

• Emergency provisions take effect immediately upon passage
• Housing and rebuilding standards phased in over 24 months
• Public Bank operational within 180 days

Oversight:
Establishes 15-member Community Oversight Committee with majority representation from most impacted neighborhoods.

Fiscal Note:
Projected 125−150 million total cost over 3 years, with estimated 125−150 million total cost over 3 years, with estimated 75 million from existing budgets and $50-75 million from new revenue measures.