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MODIFIED UNIVERSITY COURT URBAN RENEWAL PLAN I. DESCRIPTION OF PROJECT A. Boundaries of Urban Renewal Area The boundaries of the University Court Urban Renewal Area (M0. R-83) are delineated on the "PROJECT AREA MAP", Exhibit A hereof. The Urban Renewal Area contains approximately 25.9 acres and is a part of the Parkview Gardens General Neighborhood Renewal Plan Area (Mo. R-33 GN). The boundaries of the University Court Project Area (Mo. R-83) are described as follows: Beginning at the intersection of the West Line of Westgate Avenue and the South Line of Olive Boulevard; thence eastwardly along the said South Line of Olive Boulevard to its intersection with the East City Limits Line of the City of University City, Missouri; thence southwardly along the said East City Limits Line of the City of University City, Missouri to its intersection with the North Line of Vernon Avenue; thence westwardly along the said North Line of Vernon Avenue to its intersection with the West Line of Westgate Avenue; thence northwardly along the said West Line of Westgate Avenue to the point of beginning. B. Urban Renewal Plan Objectives. The basic objectives of the University Court Urban Renewal Plan are as follows: 1. Removal of structurally substandard buildings and the elimination of existing blighting influences through a program of clearance and redevelopment. 2. Achievement of changes in land use so as to provide for residential and business reuse of project land. 3. Provision for the development of low or moderate cost housing units on land to be disposed of for residential purposes. 4. Encouragement of business uses' for the development of perimeter land to increase the tax base and provide jobs for local residents. 5. Improvement of traffic movement for those living, working or visiting in the area by the elimination of through traffic on neighborhood streets. -1- boo" ly�c;FAC�4"470