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WHEREAS, this City Council , being the legislative body of the City , may extend the partial relief to any transferee of the Property under the provisions of Section 353 . 150 (4 ) , Revised Statutes of Missouri (1978) ; and WHEREAS, the City Council of the City desires to extend the partial tax relief to Schneider Partnership, to whom the Redeveloper intends to transfer the Property; NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, AS FOLLOWS : Section 1 . In the event of the sale, transfer, conveyance or other disposition at any time to Schneider Partnership of any property located in the Cunningham Industrial Park area and currently taxed as provided in Chapter 353 , Revised Statutes of Missouri (1978) , partial tax relief is hereby granted with respect to such property and shall inure to the benefit of Schneider Partnership so long as such real property is used for the uses permitted in the Urban Renewal Plan and the Redevelopment Agreement as now or hereafter from time to time amended . Upon a proposed sale or other disposition of such property from Schneider Partnership, said transferee shall request of the City Council and the City Council will consider granting the partial tax relief with respect to the property to such transferee of the Schneider Partnership so long as said transferee uses the property as permitted in the Urban Renewal Plan and the Redevelopment Agreement as now or hereafter from time to time amended . Section 2 . In no event shall the partial tax relief and abatement conferred exceed fifteen (15) years starting with the date of the first year and of such tax relief with respect to the Property, regardless of ownership or transfer . Section 3 . This ordinance shall take effect and be in force from and after its passage as provided by law. PASSED this 17th day of December , 1984 Mayor ATTEST: City Clerk CERTIFIED TO BE CORRECT AS TO FORM: Ci Attorney