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INTRODUCED BY COUNCILMEMBER LEVY s BILL NO. 7678 ORDINANCE NO. 5474 AN ORDINANCE GRANTING THE PARTIAL TAX RELIEF TO MARVIN J. SCHNEIDER FROM MARVIN REDEVELOPMENT CORPORATIONS, INC. WHEREAS, the City of University City (the "City"), pursuant to Chapter 99, Missouri Revised Statutes, in February of 1964 adopted a reso- lution 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 J. Schneider, in response to advertise- ments 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 Property to the Redeveloper; and WHEREAS, in accordance with the Redevelopment Agreement, the Property qualified 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 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