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Section 2. It is _hereby declared that the Development Plan, attached hereto as. . Exhibit B. (_the . "Development ..Plan")., is approved and adopted in accordance with the provisions of this Ordinance. Section .3. It has been determined that there is no necessity to grant the power of eminent domain to the Developer. Section 4. It has been..determined that. there .will be no displacement of person_. or . families by the.. _Dev.eloper:. An. connection with the development described in the Development Plan. i Section 5. The City Council hereby authorizes the City Manager to take any and all actions necessary_. to implement the provisions of Section 353.110, Revised Statutes of Missouri, 1978, as amended, after the effective date of this Ordinance and upon acquisition of the . aforedescribed real property by the Developer, in order to grant to the Developer such tax relief as it may be entitled to under Chapter 353 during the twelve (12) year period following acquisition by the Developer of the Project Area and in accordance with the agreement between the City and the Developer. Section 6. The Developer and its successors or assigns shall file annually, on or prior to March 31st of each calendar year, with the Director of Finance financial_ statements audited by an Independent Certified Public Accountant designated by the Devel.operg...evidencing compliance with the provisions of Chapter 353, Revised .Statutes of Missouri, as amended. Section 7. . It is intended and. . hereby expressly granted that the partial tax relief and tax exemption provisions contained in Section 353.110, Revised Statutes of Missouri, 1978, as amended, and authorized by this ordinance are not only applicable to..-the Developer during the twelve (12) year period after the date upon which the. D.eveloper acquires the aforementioned real property, but also are. applicable.,to .the....s.uccessars..,..andl-or assigns of the Developer (and any subsequent _transferee of—any transferee of _ any. thereof whether voluntary or involuntary),,. prov.ided such .:suctes:sors and/or, assigns. shall continue to use, operate and maintain the.. .aforementioned real property in accordance with the provisions of the Development Plan. _For purposes of this Section 7, Donaldson Redevelopment Corporation_ and Donaldson Court Associates, a Missouri limited partnership, are specifically approved by the .City Council as successors and assigns of the Developer and shall be entitled to the tax abatement provided for herein. 2