5485 - Laserfiche WebLink

Home Browse Search

r r ► provisions incorporating the terms of 'the Development Plan; incorporating the terms of this ordinance; incorporating the applicable provisions of Ordinance No. 5085 as amended by Ordinance No. 5165; providing that the provisions of the Urban Redevelopment Corporation Law applicable to the Developer shall be incorporated by reference; setting forth rights, powers and authority which by said law may be conferred by the City upon the Developer and which the City is conferring upon the Developer by this ordinance; and such other terms as may be agreed to between the City and the Developer within the authority conferred upon the City by the Urban Redevelopment Corporation Law. Section 6. 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 the tax relief described in the Development Plan and authorized under Chapter 353 during the twenty-five (25) year period following acquisition by the Developer of the Project Area. Section 7. The Developer and its successors or assigns, shall file annua yTT , on or prior to March 31 of each calendar year, with the Director of Finance financial statements audited by an Independent Certified Public Accountant designated by the Developer, evidencing compliance with the provisions of Chapter 353, Revised Statutes of Missouri , as amended. Section 8. It is intended and hereby expressly granted that the partial tax relief and tax exemption provisions contained in the Development Plan, t provided in Section 353.110, Revised Statutes of Missouri , 1978, as amended, t and authorized by this Ordinance are not only applicable to the Developer during the twenty (20) year period after the date upon which the Developer acquires the aforementioned real property, but also are applicable to the successors and/or assigns of the Developer (and any subsequent transferee of any transferee of any thereof (whether voluntary or involuntary) ) , provided such successors and/or assigns shall continue to use, f operate and maintain the aforementioned real property in accordance with the provisions of the Development Plan. For purposes of this Section 8, Delmar 4 Market Redevelopment Corporation and Market Square 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. Section 9. The sections of this Ordinance shall be severable. In the event any section of this Ordinance is found by a court of competent s jurisdiction to be unlawful , the remaining sections of this Ordinance shall be valid, unless the Court finds the valid sections of this Ordinance are so essentially and inseparable connected with, and so dependent upon the void section that it cannot be presumed that the City Council would have enacted the valid section without the void ones , or unless the Court finds that the valid sections standing alone are incomplete and are incapable of being executed in accordance with the legislative intent. Section 10. This Ordinance being necessary for the immediate preservation of the public health, welfare and safety; it is hereby declared to be an emergency measure and shall become effective immediately upon its passage. PASSED THIS day of � 1985. Mayoh, j�rc -►r r,� ATTEST: City Clerk APPROVED AS TO FORM City Attorney -2-