ST. LOUIS (AP) – The city of St. Louis has sold just four city properties under a program launched last year that allows people to buy homes for just $1.
St. Louis developed the Dollar House Pilot Program in hopes of selling tax delinquent properties that the city’s Land Reutilization Authority has received and of revitalizing struggling neighborhoods. Under the program, a buyer must have the financial means to renovate the property.
The St. Louis Development Corp. oversees the Land Reutilization Authority. It’s director says the program requirements can be hard to meeting, considering the condition of the buildings.