Olive/170 Redevelopment Agreement On Tonight's Council Agenda

UNIVERSITY CITY, MO — The University City Council will meet tonight at 6:30 in council chambers (6801 Delmar Boulevard, Fifth Floor). Find the agenda below, which includes a proposed redevelopment agreement for Olive Boulevard and Interstate 170 starting on page 110. The agreement, notably, does not include a final budget, but a note says that it will be added before the initial reading.

The agreement, for a planned shopping center at Olive Boulevard and Interstate 170, was proposed by Webster Groves-based Novus Development and had been delayed twice last year as closed-door negotiations continued.

City officials say the development will bring needed revenue to the city, about $15 million of which it plans to reinvest in communities surrounding the development. But some critics have demanded the city's promises in writing in the form of an independently-negotiated Community Benefits Agreement. Others have challenged the amount of public financing requested by the developer — $70 million, or about a third of the shopping center's total costs.

Can't make the meeting? Watch it live here.

University City Council agenda and draft minutes:

Photo by J. Ryne Danielson/Patch