Final Consideration of Olia Village Economic Incentives Request

The City Council is scheduled to have a second reading of ordinances regarding the proposed Olia Village economic incentives on Monday, April 8, 2024. The City Council meeting will be held at 7:00 p.m. at the Creve Coeur Government Center (300 N. New Ballas Road). The City Council held a public hearing on Monday, March 25, 2024, regarding a request from the developers of Olia Village to implement a Community Improvement District (CID) and Chapter 353 property tax abatement.

The developer is requesting to form a CID to fund on-site public improvements and to renovate and rehabilitate existing buildings on the project site. Additionally, the developer is requesting to form a Transportation Development District (TDD) to fund transportation improvements. The CID and the TDD would both impose additional sales tax of 1% and 1/2 of 1%, respectively, within the project site to fund these improvements. The developer is also requesting a property tax abatement for each phase of the project, excluding the townhomes.

The Olia Village proposed development will be located on the former Bayer campus, immediately west of Lindbergh Boulevard and south of Olive Boulevard, totaling 96 acres. The project includes a combination of multifamily, townhouses, hotels, retail, restaurants and office space.

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