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i <br /> 1 <br /> i <br /> AGREEMENT <br /> This Agreement is made as of the day of , <br /> 1984, by and between the City of University City, Missouri <br /> ("City") and RenaissanceI Redevelopment Corporation ( "Developer") . <br /> In consideration of the City' s grant of tax abatement for the <br /> Trinity Delmar Redevelopment Area, the Developer agrees that it <br /> shall pay to the City, annually, beginning on December 31, 1985, <br /> payments in lieu of taxes in accordance with the following <br /> schedule: <br /> YEAR <br /> I <br /> 3 <br /> 1-1985 -- $6, 000 less actual amount collected by <br /> St. Louis County for the tax on the land <br /> portion of real property. <br /> 2-1986 " <br /> 3-1987 " <br /> 4-1988 " <br /> 5-1989 " <br /> 6-1990 -- $6 , 000 plus 20% of the difference beteeen j <br /> $6 ,100 and the tax of the after rehabilitation <br /> assessed value less the tax collected by I <br /> St. Louis County for the tax on the land <br /> portion of real property but not to exceed <br /> $31,500 total in lieu of taxes and actual <br /> taxes . <br /> 7-1991 -- $6 ,100 plus 40% " <br /> 8-1992 -- $6 ,100 plus 60% r <br /> 9-1993 -- $6 ,100 plus 80% " <br /> 10-1994 -- Full taxes collected by St. Louis County on { <br /> real property, land and improvements not to <br /> exceed $31 ,500 <br /> 11-1995 <br /> 12-1996 <br /> 13-1997 <br /> 14-1998 j <br /> 15-1999 <br /> IN ►ti'I LNLSS WHEREOF, the City has caused this Agreement to <br /> be duly executed in its behalf by the City 1,1anager and its seal to <br /> be hereunto affixed and attested, and the Developer has caused the <br /> same to be duly executed in its behalf and its seal to be hereunto <br /> affixed and attested, all as of the day hereinabove first written. 3 <br /> t <br /> (SEAL) CITY OF UNIVERSITY CITY, MISSOURI <br /> t <br /> i <br /> ATTEST: gy <br /> City Manager <br /> City Clerk <br /> t <br /> s <br /> f <br /> i <br /> a <br /> x <br />