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St. Louis Development Corporation provides FY26 overview; agency notes ARPA and New Markets activity and continued redevelopment efforts
Summary
Interim SLDC president Otis Williams and finance staff briefed the committee that SLDC does not receive a direct general-revenue apportionment but receives city-supported funds and administers programs tied to Port Authority revenue, Prop NS and ARPA; the FY26 budget reflects personnel-driven changes and continued program delivery.
Otis Williams, interim president and CEO of the St. Louis Development Corporation (SLDC), with Charlie Hahn, SLDC’s director of finance, presented an overview of the corporation’s FY26 budget and program priorities on May 28.
Why it matters: SLDC is a quasi-public economic-development entity that implements neighborhood and citywide redevelopment, administers certain bond- and sales-tax–funded programs, and supports Port Authority activity. While SLDC is not funded through a typical general-revenue apportionment, it works closely with the city and receives programmatic support through other revenue sources.
Budget snapshot: Charlie Hahn said SLDC’s FY26 budget is personnel-driven and is about $618,000 less than FY25. SLDC reported ARPA-funded work continuing into FY26 (with ARPA authority set to expire mid‑FY27) and fee income associated with New Markets Tax Credit activity. Hahn noted SLDC administers Prop NS projects and that the corporation staffs portions of that program.
Key programs and administration: SLDC described operating the certified-business/certification program previously housed at the airport; the certified office moved to the Economic Empowerment Center and opened in January with staffing provided by SLDC. The certified St. Louis program and related partners are cosponsors of the new office, which aims to support minority- and local-business certification, outreach and technical assistance.
Redevelopment and vacant-property work: SLDC said it remains engaged in vacancy and redevelopment strategies, including support for eminent-domain outreach in specific neighborhoods where the corporation and council are pursuing parcels to advance redevelopment goals. Otis Williams told aldermen the corporation continues to review options and to contact affected constituents to support recovery and redevelopment activities.
Ending: SLDC invited committee members to follow up with program-specific questions and said staff will provide additional documentation (for example, business-impact surveys and recovery-support outreach) to aldermen who request it.
