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INTRODUCED BY_____________ DATE: November 16, 2009 <br />BILL NO. 9053 ORDINANCE NO. ________ <br />AN ORDINANCE DESIGNATING A PORTION OF THE CITY OF <br />UNIVERSITY CITY, MISSOURI, AS A REDEVELOPMENT AREA; <br />APPROVING THE KINGSLAND WALK REDEVELOPMENT PLAN & <br />PROJECT; MAKING FINDINGS RELATING THERETO; APPROVING THE <br />RPA-1 REDEVELOPMENT PROJECT DESCRIBED IN THE <br />REDEVELOPMENT PLAN AND ADOPTING TAX INCREMENT FINANCING <br />WITH RESPECT RPA-1; AND AUTHORIZING CERTAIN ACTIONS BY CITY <br />OFFICIALS. <br />WHEREAS, <br /> the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 <br />to 99.865 of the Revised Statutes of Missouri, as amended (the “Act”), authorizes municipalities to <br />undertake redevelopment projects in blighted, conservation or economic development areas, as defined in <br />the Act; and <br />WHEREAS <br />, the City Council of University City, Missouri, has duly created the Tax Increment <br />Financing Commission of University City, Missouri (the “TIF Commission”); and <br />WHEREAS, <br /> the Act authorizes the TIF Commission to hold hearings with respect to proposed <br />redevelopment areas, plans and projects and to make recommendations thereon to the City Council; and <br />WHEREAS <br />,the TIF Commission has reviewed a plan for redevelopment known as the <br />Kingsland Walk Redevelopment Plan & Project (the “Redevelopment Plan”), for an area consisting of <br />approximately 1.83 acres bounded on the north by Vernon Street, on the west by Kingsland Avenue, on <br />the south by Metcalfe Park and on the east by the western lot line of 6646 Vernon Avenue and including <br />6668 Vernon Avenue, 852-58 Kingsland Avenue and 844 Kingsland Avenue (the “Redevelopment <br />Area”), as legally described in Attachment 2 of the Redevelopment Plan; and <br />WHEREAS, <br />the Redevelopment Plan divides the Redevelopment Area into two redevelopment <br />project areas described as “RPA-1” and “RPA-2” and proposes separate redevelopment projects for each <br />of RPA-1 and RPA-2 (respectively, the “RPA-1 Redevelopment Project” and the “RPA-2 Redevelopment <br />Project” and collectively, the “Redevelopment Project”); and <br />WHEREAS <br />,the Redevelopment Plan, through the construction of the Redevelopment Project, <br />envisions the comprehensive redevelopment of the Redevelopment Area for mixed use development, <br />including residential and commercial uses; and <br /> WHEREAS <br />, in response to a solicitation of proposals by the City, Metropolitan Development- <br />Kingsland Walk, LLC (the “Developer”) submitted a proposal for redevelopment of the Redevelopment <br />Area; and <br />WHEREAS <br />, after all proper notice was given, the TIF Commission held a public hearing in <br />conformance with the Act on September 2, 2009, and received comments from all interested persons and <br />taxing districts relative to (1) the Redevelopment Plan, (2) the designation of the Redevelopment Area, <br />and (3) the approval of the redevelopment project, as described in the Redevelopment Plan (the <br />“Redevelopment Project”); and <br />WHEREAS, <br />on September 2, 2009, after due deliberation, the TIF Commission adopted a <br /> <br />