Hadley Township Homeowner: We Won't Sign Pace Contract

JoAnn* Bailey said she and her husband, Arthur, expect a lot more from the company that is planning a $125 million retail development.

*Editor's note: An earlier version of this article and its subheadline incorrectly spelled the first name of JoAnn Bailey. This article has been updated to reflect the correct spelling.

One Hadley Township homeowner told City Council last week that she isn't happy with the way Pace Properties is handling .

JoAnn* Bailey lives on Banneker Avenue in . Her back-and-forth with developers has been previously described in publications such as the Riverfront Times and Urban Review STL.

On May 7, Bailey told the council that she and her husband, Arthur, will not sign a home-buyout contract offered by Pace, which is planning a $125 million retail development just south of community center.

"Pace expects us to wait almost one and a half years before closing while they negotiate with you, their tenants, all their permits, TIF amendments, project designs and etcetera," Bailey said. "And they can walk away any time with no recourse to us. Also, with the mayor's statement, if this development fails, the city will not be responsible for it. Then if you're not responsible, who is responsible for what we have gone through the past 10 to 15 years?"

She described the written agreement as "one-sided" and argued Pace should offer to give her and 19 other homeowners a one-time $5,000 payment to help lighten the load of repairs, legal payments and other expenses they have incurred. She said former Councilman Jim Thomson had suggested the idea at one point.

Bailey gave the council a copy of her contract and asked that it be attached to the official meeting minutes.

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