City approves Arnold triangle redevelopment, use of imminent domain

[AllegroRondo]

http://www.stltoday.com/stltoday/neighborhoods/stories.nsf/jeffersoncountyjournal/news/story/3781766BB15136D5862570820060F9CD?OpenDocument

"As the city of Arnold celebrated its 23rd anniversary last week, dozens of home and business owners learned they will either come to terms on buyout offers from Overland-based THF Realty for their property or face eminent domain litigation.

THF, operating as Triangle Development L.L.C., plans to redevelop the so-called "Arnold triangle," a 38-acre tract in the southwest quadrant of the intersection of Interstate 55 and Highway 141.

Many homeowners contend they won't look for a new residence in Arnold, despite being offered a $2,000 incentive to relocate within city limits.
"I'm losing my house, I'm not going to stay in Arnold," Mark Johnson said. "They're kicking me out, basically, with the threat of eminent domain."

The agreement will give THF as much as $24 million in tax breaks."

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This has been a major fight in the local media for over a year. Not mentioned in the article, is that the local VFW is one of the buildings being torn down. They finally and reluctantly agreed to a buyout of their property in exchange for a several year lease of a closed down K-Mart building.