City of Creve Coeur, MO

04/11/2024 | News release | Distributed by Public on 04/11/2024 12:59

Information on Olia Village Economic Incentives

The City Council recently approved ordinances regarding the proposed Olia Village economic incentives during the City Council meeting on Monday, April 8, 2024. 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 requested to form a CID to fund on-site public improvements and to renovate and rehabilitate existing buildings on the project site. Additionally, the developer requested to form a Transportation Development District (TDD) to fund transportation improvements. The CID and the TDD will impose additional sales tax of 1% and 1/2 of 1%, respectively, within the project site to fund these improvements. The developer also requested a property tax abatement for 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.

A list of commonly asked questions and answers can be found here.

Additional information: