ST. LOUIS 鈥 The city鈥檚 economic development arm is hiring the former chief executive officer of the 最新杏吧原创 Fashion Fund to review its operations under a contract worth up to $150,000.
The 最新杏吧原创 Development Corp. board on Thursday authorized the contract with , led by Monique Levy. Levy started the firm just this spring. She was CEO of the until March, a position she held for less than a year. Before that, she spent three years as development director for breast cancer charity Gateway to Hope.
Monique Levy
SLDC announced it would hire a consultant to review its management practices in the weeks following the indictments of three members of the 最新杏吧原创 Board of Aldermen. Those officials, who have all resigned from the board, are accused of accepting bribes in exchange for helping a small businessman win tax breaks and buy property through SLDC.
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As part of its contract, Levy Consulting said it will run an 鈥渙rganizational audit鈥 of operations that includes 鈥渓istening sessions鈥 with staff. It will also establish 鈥渢racking, measuring and reporting processes to activate the Economic Justice Action Plan.鈥 That plan, awarded under a $150,000 contract nearly a year ago, has not yet been released.
Levy Consulting said it would produce a 鈥渕anagement action guide鈥 and organizational recommendations. She will also serve as a part-time chief operating officer, known in business circles as a 鈥渇ractional COO.鈥
SLDC staff said they received two other responses for the services, and Levy鈥檚 response was 鈥渂y far the most cost-effective.鈥
The contract is at least the fifth consulting contract the powerful economic development agency has authorized in recent months. And it wasn鈥檛 even the only one Thursday.
SLDC also approved a contract worth as much as $40,000 with economic development firm , led by prominent development consultant Doug Rasmussen.
Under the contract, Steadfast City will market several of SLDC鈥檚 priority sites to developers, including areas along Martin Luther King Drive, the Club Imperial on West Florissant Avenue and the old Wellston Station near the border with that municipality, among others. At the urging of board member and Alderman Marlene Davis, SLDC staff said they would also include existing redevelopment areas that it has designated in past years.
Those areas, often in poorer neighborhoods, offer tax abatement to developers that build within their boundaries, though they have lacked a vigorous marketing effort to draw interest.
SLDC budgeted nearly $2 million for consultants in its budget for the next fiscal year, also approved Thursday. That is $1.4 million more than it budgeted for consultants this year.
The agency鈥檚 budget is estimated to grow by nearly $4 million, primarily due to several million dollars in management fees it is collecting to administer tens of millions in federal pandemic aid programs.
