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INTRODUCED BY COUNCILMEMBER ADAMS 7549 ~I~D INA~CE :,¥). 5345 AN ORDINANCE GRANTING THE PARTIAL TAX RELIEF TO ANY TRANSFEREE OF REAL PROPERTY FROM THE UNIVERSITY CITY REDEVELOPMENT CORPORATION, CONTAINING AN EMERGENCY CLAUSE ~d{g,_.~FAS, the University City Redevelopment Corporation, an urban redevelopment corporation ,lul~ organized and existim? pursuant to the sions of Cimpter 353, -~..g.~o. 1973, is now or .~lt he the recorl owner of real propert.v (hereinafter "Property") in Urban Renewal areas of University City, which Property will be acquired by said urban redevelopment corporation from the Land Clearance for Redevelopment Authority of University City, Missouri; and said Property will qualify for partial tax relief pursuant to Chapter 353, RSMo _~ so lorn? as it is owned by sai,t R.S.?!o. lq7a; the le~isl a- ti.w~. body of the City of University City, may extend t~e varti, al tax relief to any transferee of Property under the provisions of ~ect~on 353.150(4) 1978 upon such terms as the city Council may determine. N()',,!, T!IER~;;FORE, ',~E IT ORDAI~F,O BY T~dE COUNCIL Ov Ti~E CTTY OF SITY CIT~, ~',IlSSOORI, ~S ~OLI.OUS: Section 1. The partial tax relief pertat nin~ to urban renewal Property, pursuant to the provJ, sions of Cha,ter 353, I~.~.~4o. 1978, is hereby ~ranted to any transferee of such Properts~, ~lpOn the transfer of said Property from the University City Pedeva]opment Corporation to said transferee. Secti. on 2. The provisions of Section I hereof are expressly condi- tioned upon the Property being used, operated and maintained in accordance with t~e urban renewal ~]an n~w in force and effect with respect to any such Property and in accordance with any parcel development a~reement or similar covenants and con.,~tition~ that may l~ave been imposed upon ,~ai.] Pro.erty by the Land Clearance for Redmvelo,:aent Authority of University C~tv, Wissouri, or the University City 14.edevelon::~ent Corporation, inc.ludin~ but not ]i,Mtad to any cm~venants to make payments in lie. of taxes. the provisions of urban redevelop:~ent corpor;itiou, as .provided in Section 353.060, and '.4~tEbIEAS, the Citlf Council ~f ,'lniversitv City, Wissourt,