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INTRODUCED BY COUNCILMEMBER ADAMS BILL NO. 7613 ORDINANCE NO. 5409 AN ORDINANCE AMENDING THE ORDINANCE WHICH APPROVED THE DEVELOPMENT PLAN FOR THE LEWIS CENTER REDEVELOPMENT AREA AS ENACTED BY ORDINANCE NO. 5405 ON AUGUST 22, 1983, BY REPEALING SECTIONS 9 AND 10 RELATING TO TAX ABATEMENT AND RE ENACTING SECTIONS 9 AND i0 RELATING TO TAX ABATEMENT SO AS TO CLARIFY THE TAX ABATEMENT AND IN LIEU OF PAYMENTS TO BE MADE THEREOF; AND CONTAINING AN EMERGENCY CLAUSE. NOW THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: Section 1. The City Council hereby amends the ordinance which approved the development plan for the Lewis Center Redevelopment Area as enacted by Ordinance No. 5405 on August 22, 1983, by repealing Sections 9 and 10 relating to tax abatement and re enacting Sections 9 and 10 relating to tax abatement so as to clarify the tax abatement and in lieu of payments to be made thereof, so that said Sections 9 and 10, as so amended, shall read as follows: Section 9. In all contracts with private or public redevelopers of any portion of the Project Area, wherein the Authority shall sell property for redevelopment or rehabilitation, the redeveloper and all those holding under redeveloper, shall agree to use the property in accordance with the provisions of the Plan, and be bound by the conditions and procedures set forth therein. Section 10. If the Project Area is sold to a redevelopment corpo- ration formed pursuant to Chapter 353, Revised Statutes of Missouri, 1978, as amended, taxes shall be abated on the building and improvements thereon, and payments in lieu of taxes shall be paid by such redevelopment corporation to the City for ten years after purchase from the authority; and for the next succeedink ten years the land, building and improvements shall be taxed at one half of the then assessed value; and said tax abatement and payments in lieu of taxes shall apply for all successors in interest and assigns of the redevelopment corporation and any subsequent transferee of any thereof (whether voluntary or involuntary) so long as they shall continue to use the property as provided in the Plan and in the redevelopment contract entered into with the Authority, but in no event for a total of more than twenty (20) years, after which time the payment of taxes shall be as for all other property in the City of University City. Section 2. This Ordinance, being necessary for the immediate preserva- tion of the health, welfare and safety, is hereby declared to be an emergency measure within the meaning of the Charter of the City of University City, and shall become effective immediately upon its passage. PASSED this 19th day of ATTEST: CITY CLERK Septe~r , 1983. CERTIFIED TO BE CORRECT AS TO FORM: