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Section ]. Acceptance of application of state enabling act.
<br />
<br /> The provisions of the "Urban Redevelopment Corporations Law"
<br />found at Chapter 353, Revised Statutes of Missouri, are hereby
<br />accepted and all of the provisions thereof incorporated by
<br />reference herein. All such provisions shall apply to all
<br />persons and corporations operating under this ordinance, insofar
<br />as the same may be applicable thereto.
<br />
<br />Section 4. Definitions.
<br />
<br />~ '~Th~-"foll~Wi~g terms,-'whenever used or referred"to-in'this
<br />ordinance and any contract entered into pursuant hereto, shall,
<br />unless a different intent'clearly appears from the context,
<br />be construed to have the following meanings:
<br />
<br /> Area: "Area" shall mean that portion of the City which
<br />the City Council'has found or shall find to be blighted, so that
<br />clearance, replanning, ~ehabilitation or redonstruction thereof
<br />is necessary to effectuate t~e purposes of this ordinance. Any
<br />such area may include buildings or improvements not in themselves
<br />blighted, and any real property, whether improved or unimproved,
<br />the inclusion of which is deemed necessary for the effective
<br />clearance, replanning, reconstruction or rehabilitation of
<br />the area of which such' buildings, improvements or real property
<br />form a part.
<br />
<br /> Blighted area: "Blighted area" shall mean those portions
<br />of the City which the Council determines, that by reason of age,
<br />obsolescence, inadequate or outmoded design or physical, deter-
<br />ioration, have become economic and social liabilities and that
<br />the conditions in such localities are conducive to ill hea-lth,
<br />transmission of disease, crime or inability to pay reasonable
<br />taxes.
<br />
<br /> City: "City" shall mean the City ~f:'U~v.'e~S.~ty City.
<br /> Commission: "Commission" shall mean theCity Plan
<br />Commission.
<br />
<br /> Construction work: "Construction Work" shall mean the
<br />taking of possession of land, clearance of an area, erection of
<br />improvements and all other related matters to effectuate an
<br />approved Development Plan causing the physical rehabilitation,
<br />reconstruction and redevelopment of an area.
<br />
<br /> Corporation: "Corporation" shall mean'an urban'redevelop-
<br />ment corporation organized under and pursuant to the provisions
<br />of the "Urban Redevelopment Corporations Law", and shall include
<br />any life insurance company organized under the laws of, or
<br />admitted to do business in the state,.which shall undertake a
<br />redevelopment project under the provisio~s of this ordinance.
<br />
<br /> Cost: "Cost" shall mean the cost of the-Redevelopment
<br />Project. The term shall include, .among other costs, the
<br />reasonable expense of planning the redevelopment, including
<br />preliminary studies and surveys, neighborhood planning and
<br />architectural and engineering .services, the reasonable value
<br />of the services performed in connection with the development'
<br />plan, interest during construction, the actual cost of the
<br />real property or any part thereof, the actual cost of demolition
<br />of existing structures, the actual cost of utilities, landscaping
<br />and roadways, the actual cost of construction, equipment and
<br />furnishing of buildings and improvements, including architectural,
<br />engineering and builder's fees, the actual cost of'reconstruction,
<br />rehabilitation, redevelopment, remodeling, or initial repair
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