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Aldermen advance $30 million tornado relief fund using Rams settlement interest
Summary
The Housing, Urban Development and Zoning Committee advanced Board Bill 31 to create a Tornado Relief and Recovery Fund that uses approximately $30 million in interest from the Rams settlement to deliver immediate aid to residents affected by the May 16 storms; committee adopted three amendments and set an expedited schedule for final action.
St. Louis Board of Aldermen Housing, Urban Development and Zoning Committee members advanced Board Bill 31 on a fast timeline to create a Tornado Relief and Recovery Fund financed by interest on the Rams settlement, roughly $30,000,000, to support residents affected by recent storms and tornadoes.
The bill, presented by President Green, would establish the fund in the Comptroller’s Office and maintain it with the City Treasurer. The fund may accept city appropriations, private donations and other sources; interest earned would remain in the fund. The fund’s stated purpose is to fill immediate gaps for impacted residents in eligible neighborhoods listed in Exhibit A, including home repair, temporary housing, storage, help with insurance deductibles, legal aid, hazard-tree work, repairs to critical infrastructure (streets, sidewalks, lighting), support for nonprofit relief operations, matching funds for state and…
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