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Basswood residents ask Olivette for interest‑free loan to repave private street
Summary
Representatives of the Basswood private subdivision asked the council for an interest‑free loan of about $57,900 to repave a deteriorated private street and proposed repayment through property tax assessments; council said it would review options.
A trustee for the Basswood private subdivision told the Olivette City Council on Nov. 12 that their private street has deteriorated and professional assessments recommend full repaving at an estimated cost of $57,900. The speaker asked the city for an interest‑free loan repayable over a period (suggested in the comment as about 10 years) and said residents contribute property taxes like public neighborhoods.
The mayor summarized the request and confirmed the speaker sought a 0% interest loan and asked staff to review options for private subdivisions; the council did not commit to a program but said it would take the request back for staff evaluation. Tom Walk (who also spoke) noted neighborhood infrastructure needs and expressed appreciation for city greenway work.
No formal motion or funding allocation was taken; the council indicated staff will look into available assistance or financing approaches the city can offer to private subdivisions.
Next steps: staff to review possible city programs or financing mechanisms and report back to council.
