Council Plaza Redevelopment Corp. v. Duffey

MORGAN, Judge.

This is an action for declaratory judgment. Defendants prevailed in the trial court and plaintiff has appealed.

Plaintiff is an urban redevelopment corporation organized under the provisions of Chapter 353, RSMo 1959, V.A.M.S. Defendants are trustees of funds available for lending if secured by real estate mortgages or deeds of trust.

Plaintiff, in its corporate capacity, acquired certain land in the City of St. Louis for development of an appropriate urban redevelopment project. It obtained from defendants a written commitment for the permanent financing of the project. The loan…