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s l now • J 1 • � FF INTRODUCED BY COUNCILMEMBER METCALFE F BILL N0. 7612 ORDINANCE NO. 5408 AN ORDINANCE GRANTING THE PARTIAL TAX RELIEF TO WINCO MANUFACTURING COMPANY, INC. FROM WINCO REDEVELOPMENT CORPORATION, INC. WHEREAS, the City of University City (the "City") , pursuant to k Chapter 99, Missouri Revised Statutes, in February of 1964 adopted a reso- lution finding that certain blighted areas existed with the City; and WHEREAS, the City approved an Urban Renewal Plan for the Cunningham Park Project Area by Ordinance No. 4097 on November 23, 1964, amended by Ordi- nance No. 4252 on December 12, 1966, further amended by Ordinance No. 5265 on November 17, 1980, and further amended by Ordinance No. 5327 on April 12, 1982, (hereinafter collectively referred to as the "Urban Renewal Plan"); and hereto be made a part hereof as an additional condition to its granting the aforesaid grant-in-aid. WHEREAS, Winco Redevelopment Corporation, Inc. (the "Redeveloper") , a corporation organized and existing under Chapter 353, Revised Statutes of Missouri and a wholly owned subsidiary of Winco Manufacturing Co. , Inc. , in response to advertisements for proposals, submitted a proposal to the Land Clearance for Redevelopment Authority of University City, Missouri, (the "Authority") for the development of certain real property in the Cunningham Park Area (the "Property"); and WHEREAS, the Authority on February 22, 1982, by Resolution No. 899, approved the proposal; and WHEREAS, on November 3, 1982, the Authority adopted a resolution authorizing it to enter into an Agreement for the Redevelopment of the Property, dated as of December 1, 1982, by and between the Authority and the Redeveloper (the "Redevelopment Agreement"); and WHEREAS, the Authority gave notice to the City Council as required by law; and WHEREAS, pursuant to the Redevelopment Agreement the Redeveloper caused the Property to be conveyed by its parent corporation, Winco Manu- facturing Co. , Inc. , to the Authority, and the Authority immediately conveyed It to the Redeveloper; and WHEREAS, in accordance with the Redevelopment Agreement, the Property qualifies for partial tax relief pursuant to the provisions of Chapter 353, Revised Statutes of Missouri (1978) , so long as it is owned by the Redeveloper; and