Economic Development Retail Sales Tax (EDRST)
ROUND 4 FORGIVABLE LOAN SMALL BUSINESS ASSISTANCE PROGRAM IS NOW AVAILABLE
The City of University City is pleased to announce Round 4 of the Forgivable Loan Small Business Assistance Program. The City has earmarked $700,000.00 for the Program that is intended to help eligible local retail, service and creative for-profit businesses address immediate cash for short-term financial operational needs such as payroll, payment to suppliers, payment to service providers or payment of utilities. The available funding is intended to serve all qualified University City businesses with a goal that at least 25% of the allocated funding will fund minority and women-owned businesses. The loan funds may not be used for capital expenditures or rent. The intent of this Program is to provide local businesses relief due to their economic loss during the current COVID-19 Pandemic.
CLICK HERE for guidelines for Round 4 Forgivable Loan Small Business Assistance Program.
CLICK HERE for the Application for Round 4 Forgivable Loan Small Business Assistance Program.
In August 2006, the City of University City levied a one-quarter (1/4) percent sales tax on retail sales to be used for economic development purposes. This revenue is based on the amount of sales tax generated through point of sales within the City limits and fluctuates from year to year.
Through the EDRST, funds are being invested in University City programs and projects that encourage the physical and economic redevelopment of major corridors, improve infrastructure, support existing successful business districts, and enhance efforts toward business retention, expansion and attraction. The use of revenues generated by the tax are generally for project administration, land acquisition, infrastructure, water and wastewater treatment capacity, matching state or federal grants related to long-term economic development projects, marketing, training, equipment and infrastructure and other specified uses.
The general purpose of the Economic Development Retail Sales Tax (EDRST) Board is to serve as an advisory committee to the Mayor, City Council and City Staff on matters relating to the Local Option Economic Development Retail Sales Tax, and to perform such other duties as may be assigned by the City Council.
The EDRST Board will assist in facilitating the implementation of Economic Development related goals set forth in the Comprehensive Plan (including all updates), the Olive Boulevard Design Guidelines, and other planning documents and initiatives approved by the City Council. The Board pursues these goals by making recommendations to the Council for the use of the Economic Development Retail Sales Tax. The City’s strategic planning effort includes, but is not limited to, plans for a vibrant, economically healthy community and livable neighborhoods. The plans are also intended to ensure that the City is a center for business and tourism, and a destination for the appreciation of leisure, culture and history.
EDRST Grant Funds
Each year, the EDRST Board recommends a list of projects to be funded with the EDRST. The recommendation is sent to the City Council as a part of the City budget. Projects are funded on a Fiscal Year, July to June.
Funding Priority Guidelines
The application period for EDRST Funds is now CLOSED. Questions can be directed to Clifford Cross, Director of Planning and Development, at firstname.lastname@example.org or 314-505-8516 or Jenny Wendt at email@example.com.
FY 20 Approved Projects: U City Farmers' Market $28,000
U City in Bloom $50,573
U City School District - EMT Academy $68,3000
Facade Improvement Program $150,000
Loop Special Business District $124,000
Ad in STL Visitor's Guide-$14,000
Loop Brochures & Wayfinding Directory Update $6,000
Loop Events $85,000
Loop Lighting Study $19,000
Mannequins on the Loop $21,000
STL Artworks - Mural for Loop Parking Garage: $11,000
WINCO Window-Automation Equipment Upgrade $175,000
EDRST Meetings and Information
The EDRST meets on an as-needed basis.
Agendas and packet information will be made available prior to those dates.
All Economic Development Retail Sales Tax Board meeting agendas, minutes, past quarterly reports can be found in the City's Public Documents.