The St. Louis Development Corporation (SLDC) told the Real Estate Committee it has submitted offers to acquire two long‑vacant St. Louis Public Schools properties and seeks authority to proceed with due diligence and stabilization work using ARPA funds allocated to SLDC.

Rob Orr, SLDC senior vice president for real estate development, said Marshall School — vacant roughly 22 years and damaged in recent storms and a tornado — is under an offer of $200,000. SLDC said the offer requires LCRA and CDA approvals and a satisfactory Phase I environmental assessment and title report. SLDC said its ARPA funding requires the project to be under contract and funds expended within the funding time window; if the acquisition and weatherproofing do not close by the stated deadlines, SLDC said it may lose available ARPA dollars.

On Cleveland High School, SLDC offered $300,000 for the school, newer gymnasium and track and field parcels combined. SLDC described extensive interior damage and fire activity in the auditorium; staff said developers have repeatedly cited the auditorium and loss of buildable land as key economic obstacles. SLDC said it may spend up to $3 million to stabilize, weatherproof and secure Cleveland if it completes acquisition, but described the redevelopment as contingent on obtaining historic tax credits and the ability to redevelop the adjacent track and field. SLDC emphasized both projects are high‑risk and that stabilization is intended to buy three to five years of time to pursue redevelopment deals.

Committee members asked about aldermanic support and neighborhood engagement; SLDC said it had verbal support in at least one case and would provide written letters as requested. SLDC also said that if a private developer came forward with a viable offer, SLDC would not block a private acquisition and would support a developer that could move immediately to redevelopment. SLDC representatives said incentive requests such as tax abatement or TIF would come later and require additional approvals from the board and other bodies.