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WHEREAS, University City Redevelopment Corporation (hereinafter referred to as "UCRC"), and Urban Redevelopment Corporation organized and existing pursuant to Chapter 353 of the Revised Statutes of Missouri, 1978, as amended, as certified by the Secretary of State's certificate of corporate good standing attached as Exhibit B hereto, has duly submitted a Modified Development Plan for the Project Area; and WHEREAS, the City Clerk, upon receiving said Modified Development Plan for the Project Area (which is attached hereto as Exhibit A, incorpo- rated herein by reference, and hereafter referred to as the "Modified Plan") forwarded the Modified Plan to the City Plan Commission for its review and recommendation; and WHEREAS, the City Plan Commission has filed with the City Clerk its recommendation and report recommending that the Project Area be declared blighted, that the Modified Plan be approved since redevelopment of the Project Area is necessary and desirable to effectuate the purposes, hereto- fore mentioned, in the public interest and since the public facilities are, and will be, adequate for the Project Area; and WHEREAS, the Modified Plan is found to be in full compliance with Ordinance 5085 of the City of University City and Chapter 353 of the Revised Statutes of Missouri, 1978, as amended, and is in the public interest and serves the public purpose; and WHEREAS, pursuant to a notice duly published, th City Council did hold a public hearing at 7:30 P.M. on the 24th day of November, 1986, and all parties were duly heard and considered by the City Council of University City. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY AS FOLLOWS: Section 1. The Project Area, more particularly described in Exhibit A hereto, is hereby found and declared to be a blighted area as defined by Section 343.020(2) of the Revised Statutes of Missouri, 1978, as amended, and by Ordinance 5085 of the City of University City, as amended. Section 2. The redevelopment of the Project Area as provided by Chapter 353 R.S.Mo. 1978, as amended, and Ordinance 5085 of University City, as amended, is necessary and in the public interest under said statutory and ordinance provisions and the Modified Plan and its implementation is necessary for the preservation of the health, safety, morals and general welfare of the people of the City of University City. 2