$110 MILLION URBAN RENEWAL BOND ISSUE (1955)

In May of 1955, Saint Louisians voted in a special election concerning a $110 million bond issue. The propositions of that bond included financing for road and street improvements, various municipal improvements including hospitals and libraries, garbage disposal and slum clearance. Although the majority of the funds would benefit the expressways and municipal improvements, the following propositions related to slums and Mill Creek Valley:

This fund would be used for preventing decay and preserving property values in eight to ten neighborhoods. The city would build parks, improve streets and provide other rehabilitation measures while individual property owners did their part to bring their district up to standard.

St. Louis must have city funds set aside for urban redevelopment projects if it is to qualify for the millions of dollars in federal aid tentatively allocated to St. Louis by the Housing and Home Finance Agency.

Each proposition had to be approved by a two-thirds majority. The failure of one or more propositions would not defeat those which received the needed two-thirds majority