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In connection with the urban renewal project, the <br />Authority may in its discretion offer to a properly <br />organized urban redevelopment corporation which <br />presents a plan for building rehabilitation and <br />renovation conforming to the Authority's <br />specifications and design standards some or all of <br />the benefits of limited tax abatement but not the <br />use of the power of eminent domain in accordance <br />with Chapter 353 of the Missouri Revised Statutes <br />of 1986, as amended. At such time as the Authority <br />makes a determination that it desires to grant said <br />tax abatement to an urban redevelopment <br />corporation, the Authority shall notify in writing <br />the University City governing body of said <br />intention. If the governing body does not object <br />to the Authority's written proposal within thirty <br />(30) days of receipt thereof, the Authority may <br />offer the aforesaid tax abatement. <br /> <br />Rehabilitation and Conservation <br /> <br />All properties designated for rehabilitation on the <br />("Project Area Map (Acquisition Areas),") <br />Acquisition Map, Exhibit 3 hereof, shall conform <br />with [the Minimum Property Standards set forth in <br />this~Tlan as Exhibit E], the provisions of the <br />University City Zoning~d Building Codes and all <br />other ordinances and regulations of the City <br />relating to dwelling facilities, their maintenance <br />and occupancy, and the repair, vacation, and/or <br />demolition of unfit structures. <br /> <br />Any property or building designated for <br />acquisition, rehabilitation and conservation on the <br />Acquisition Map, Exhibit 3 hereof, which is not <br />brought into conformity with or is not maintained <br />in compliance with Chapter 17 of the University <br />city Municipal Code, _Lthe Minimum Property <br />Standards of this Plan] ~'nd the applicable codes <br />and ordinances of the'C'lty of University City may <br />be acquired by the Authority. <br /> <br />Population Density <br /> <br />Current information gives the existing population <br />in the Project Area as approximately 2,625 with a <br />density of 2.51 persons per household. Since no <br />additional large scale residential development is <br />anticipated, there should be little increase in <br />population or change in density after the <br />redevelopment contemplated in connection with this <br />Plan. <br /> <br />10 <br /> <br />693 <br /> <br /> <br />