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REDEVELOPMENT AGREEMENT <br />{} <br /> TC \l2 “ Recitals” <br />THIS REDEVELOPMENT AGREEMENT <br />(this“Agreement”) is made and entered into as of <br />CITY OF UNIVERSITY CITY, MISSOURI <br />this _____ day of December, 2009, by and between the <br />METROPOLITAN <br />(the“City”),an incorporated political subdivision of the State of Missouri, and <br />DEVELOPMENT-KINGSLAND WALK, LLC <br />, a Missouri limited liability company (the <br />“Developer”). (All capitalized terms used but not otherwise defined herein shall have the meanings <br />Article I <br />ascribed in of this Agreement.) <br />RECITALS <br />A. On October 6, 2008, the City Council of the City adopted Ordinance No. 6758 amending <br />the composition of the Tax Increment Financing Commission of the City of University City, Missouri <br />(the “TIF Commission”) to comply with recent amendments to the Real Property Tax Increment <br />Allocation Redevelopment Act, Sections 99.800 to 99.865, as amended (the “TIF Act”). <br />B. On October 6, 2008, the City (1) published in the St. Louis Countian, a newspaper of <br />general circulation within the City, a notice soliciting proposals for the redevelopment of the <br />Redevelopment Area and (2) mailed copies of the Request for Redevelopment Proposals to those persons <br />or firms that the City’s Director of Community Development determined might be interested in <br />submitting a bid for the redevelopment of the Redevelopment Area. <br />C. The Developer submitted its redevelopment proposal (the “Redevelopment Proposal”) <br />for the Redevelopment Area to the City on November 7, 2008. <br />D. On April 6, 2009, the City Council adopted Resolution No. 2009-5 designating the <br />Developer as developer of the Redevelopment Area. <br />E. Following a public hearing held on September 2, 2009, the TIF Commission passed a <br />resolution approving the Kingsland Walk Redevelopment Plan & Project (the “Redevelopment Plan”) <br />and the redevelopment projects described in the Redevelopment Plan (the “Redevelopment Project” and <br />consisting of a “RPA-1 Redevelopment Project” and a “RPA-2 Redevelopment Project”) and <br />recommended that the City Council (1) approve the Redevelopment Plan, (2) designate the <br />Redevelopment Area as a “redevelopment area” as provided in the TIF Act and comprised of <br />Redevelopment Project Area 1 (“RPA-1”) and Redevelopment Project Area 2 (“RPA-2”), (3) approve the <br />Redevelopment Project and (4) adopt tax increment financing with respect to the Redevelopment Project. <br />F. On November __, 2009, after due consideration of the TIF Commission’s <br />recommendation, the City Council (1) introduced Bill No. _____ approving the Redevelopment Plan, <br />designating the Redevelopment Area, approving the RPA-1 Redevelopment Project and adopting tax <br />increment financing within RPA-1 and (2) introduced Bill No. ____ approving the RPA-2 <br />Redevelopment Project and adopting tax increment financing within RPA-2. <br />G. On December __, 2009, the City Council adopted Ordinance No. _____ (the “TIF <br />Ordinance”) approving the Redevelopment Plan, designating the Redevelopment Area, approving the <br />RPA-1 Redevelopment Project and adopting tax increment financing within RPA-1. <br />H. On December __, 2009, the City Council adopted Ordinance No. _____ authorizing the <br />City to enter into this Agreement. <br /> <br />