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City has difficulty selling distressed homes

ST. LOUIS (AP) - City efforts to force repairs at hundreds of deteriorating St. Louis homes remain stymied as the property owner's identity is shrouded in mystery.

The St. Louis Post-Dispatch reports that the Urban Assets LLC holding company owns more than 200 distressed houses on the city's north side. Many have multiple code violations, unpaid fines and unpaid tax penalties.

The holding company's registered agent says he is bound by confidentiality to not disclose the owner's identity. The city is trying to sell dozens of Urban Assets' houses at nuisance property auctions after the company failed to pay property taxes. Only one has sold so far.

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