5508 - Laserfiche WebLink

Home Browse Search

is a blighted area and that the rehabilitation and reconstruction thereof are necessary for the public convenience and necessity; and WHEREAS, said ordinance directs the City Manager to enter into a con- tract with the Developer providing for the execution of said Development Plan, as amended; and WHEREAS, the Developer is a corporation formed under Chapter 353 of the Revised Statutes of Missouri, 1978, as amended, and is now in good standing in the State of Missouri. NOW, THEREFORE, the City and the Developer, its successors and assigns, for the consideration and mutual covenants hereinafter contained and described under the conditions hereinafter set forth do hereby agree as follows: 1. The provisions of the Urban Redevelopment Corporation Law, Chapter 353, Revised Statutes of Missouri, 1978, as amended, up to and including the date of this contract and the provisions of the ordinance of which this Agreement is a part and the Development Plan, as amended, are hereby incorporated by reference and made in whole a part of this Agreement. Wherever the term "Development Plan" is used in this Agreement, it shall refer to the Development Plan incorporated by reference into Ordinance No. , together with amendments and modifi- cations, if any hereto. 2. Developer, its successors or assigns, shall rehabilitate or cause to be rehabilitated, at its expense, the facilities more fully set out and described in the Development Plan, and in the manner therein provided. 3. Developer may not depart substantially from the Development Plan without approval by the City Council. 4. The overall Development Plan, incorporated herein by reference, is proposed to be completed within approximately one and one—half (1-1/2) years after initiation. The Development project will be initiated within three (3) months of the effective date of the ordinance approving the Development Plan. Periods provided herein for completion of the development shall be extended for delays beyond Developer's control. Such time extensions shall be granted by the City of University City upon application of the Developer upon finding by the Council that: 3