2010-04-12 Regular City Council Agenda

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INTRODUCED BY DATE: March 22, 2010 9067 BILL NO.ORDINANCE NO. AN ORDINANCE APPROVING THE FIRST AMENDMENT TO THE REDEVELOPMENT AGREEMENT FOR THE KINGSLAND WALK REDEVELOPMENT AREA, AND AUTHORIZING CERTAIN ACTIONS BY CITY OFFICIALS. WHEREAS , the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the “Act”) authorizes cities to undertake redevelopment projects in blighted, conservation or economic development areas, as defined in the Act; and WHEREAS ,on December 7, 2009, the City Council adopted Ordinance No. 6798 approving the Kingsland Walk Redevelopment Plan & Project (the “Plan”) pursuant to the Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended; and WHEREAS , the Plan describes a redevelopment program for an area described therein (the “Redevelopment Area”) through the implementation of redevelopment projects described therein (the “Redevelopment Projects”); and WHEREAS , on December 7, 2009, the City Council adopted Ordinance No. 6800 approving a Redevelopment Agreement with Metropolitan Development-Kingsland Walk, LLC (the “Developer”), which agreement provided the terms and conditions upon which tax increment financing will be available to assist the Developer in the completion of the Redevelopment Projects; and WHEREAS, to further facilitate the redevelopment of the Redevelopment Area, the City Council now desires to approve the First Amendment to Redevelopment Agreement (the “First Amendment”) Exhibit A attached hereto as . NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: Section 1. The City Council hereby approves the First Amendment in substantially the form Exhibit A attached hereto as , with such changes therein as shall be approved by the officers of the City executing the same. The Mayor is hereby authorized and directed to execute, on behalf of the City, the First Amendment between the City and the Developer, and the City Clerk is hereby authorized and directed to attest to the First Amendment and to affix the seal of the City thereto. Section 2. The officers, agents and employees of the City are hereby authorized and directed to execute all documents and take such necessary steps as they deem necessary and advisable in order to carry out and perform the purpose of this Ordinance.