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INTRODUCED BY COUNCILMEMBER THOMPSON BILL NO. 7663 ORDINANCE NO. 5459 AN ORDINANCE GRANTING THE PARTIAL TAX RELIEF TO SCHNEIDER PARTNERSHIP FROM MARVIN REDEVELOPMENT CORPORATION, INC . WHEREAS, the City of University City (the "City") , pursuant to Chapter 99, Missouri Revised Statutes, in February of 1964 adopted a resolution finding that certain blighted areas existed within 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 Ordinance 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; and WHEREAS, Marvin Redevelopment Corporation (the "Redeveloper") , a corporation organized and existing under Chapter 353 , Revised Statutes of Missouri , and wholly owned by Marvin Schneider who is also the principal general partner of Schneider Partnership , a Missouri partnership, 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, on October 24 , 1984 , the Authority adopted a resolution authorizing it to enter into an Agreement for the Redevelopment of the Property, dated as of December 3 , 1984 , 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 Authority conveyed the Properpty 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