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Section 3. Tn no event ~.all. the partial tax re]_ief conferre~? exceeJ <br /> <br />25 years from the ,]ate of the first year of m~ch tax re!iof with r spectf. ~ to t~e <br /> <br />Property. <br /> <br /> Section 4. In <br />sity City !~edevelop~ent <br />transferee, who presents <br /> <br /> connection with the ur'>ap renewal nroject, the Univer- <br /> <br /> Corporation maw in its discretion offer to <br /> <br /> a plan for b. il.,ding rehabilitation anti renov~tio~ <br />confor.ninsi to the LCRA's specifications ~.,") de:~i~n standards, so~o or all of <br />tae benefits of limited tax abatement but not the use of the ~ower of e~inent <br />domain in accordance with Chapter 353 of the ;~isso~)ri Rewiso.) Statutes of 197q. <br />At such time as the University City Re:levelop~nent Corporation ~akes a determin- <br />ation that it desires to ~rant sai,i tax abatement to a transferee, the <br />University City ~e~evel oo:neat Corporation shall notifv in wri tin~ the <br />Univer~ity City ~overnin~I body of said ~ntention. If the ~overn~n~ '~ody <br />not object to the University C~tv Pedeve~opment Corporation's written .roposal <br />with~-~ thrity (30) days of re~pt thereof, the University City Redevelon~ent <br />Corporation ,nay offer the afor~sa~,~ tax abste~ent. <br /> <br />Section 5. It ~s hereby Jeclared an e~r~ncv ex~t~ in that there <br />are certain parcels which are ready to he rebabe~] and the construction season <br /> <br />is drawin~ to an en,:i for this year. <br /> <br /> PASS!:i!) thi'~ 23rd day of <br /> <br />August , 19'.~2. <br /> <br />City Clerk <br /> <br />C~:~TIFiEI~ TO BE COI;RECT AS TO ~,)R~?: <br /> <br />CJ ty A~ey <br /> <br /> <br />