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Section 9. The Director of Finance shall review all financial state- ments submitted to him by Developer, its successors or assigns. He shall determine the net income of the Developer, its successors or assigns, and shall determine whether the accumulation of surplus net earnings as defined by law, if any, is being handled as provided by law. (a) In the event such net income of Developer, its successors or assigns, is not more than the maximum allowed by law, or in the event such net income during the year is more than the maximum allowed by law, and the accumu- lation of surplus net earning is being handled as provided by law, then the Director of Finance shall certify on or before April 1, of each year following the year for which the statement was required to be submitted under Section 8, that Developer, its successors or assigns, is eligible for the tax exemption provisions contained in the "Urban Redevelopment Corporation Law" and found in Section 353.110 Revised Statutes of Missouri, 1978, as amended. (b) In the event the net income of Developer, its successors or assigns, is more than the maximum allowed by law, and the surplus is not being handled as provided by law, then the Director of Finance shall certify on or before April 1, of the year following the year for which the statement was required to be submitted under Section 8, that such corporation is not eligible under the tax exemption provisions contained in Section 353.110 of the "Urban Redevelopment Corporation Law". Section 10. In the event that the certification continues the tax exemption status with regard to the aforedescribed real property of Developer, its successors or assigns, under Section 353,110, the Assessor of St. Louis County shall be so notified. Section 11. In the event that certification states that tax exemption status cannot be continued with regard to the aforedescribed real property of the Developer, its successors or assigns, then the Assessor of St. Louis County shall be notified for purposes of assessing the property of Developer, its successors or assigns, at its true value as provided by law. Section 12. It is intended and hereby expressly granted that the partial tax relief and tax exemption provisions contained in Section 353.110, R.S. Mo. 1978, as amended, and authorized by this ordinance are not only applicable to the Developer during the fifteen (15) year period after the date 11