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transfer title to the Property to 6665 Urban Redevelopment <br />Corporation, subject to a Parcel Development Agreement with the <br />LCRA; and <br /> <br /> WHEREAS, in connection with the Redevelopment Proposal, 6665 <br />Urban Redevelopment Corporation has requested a grant of tax <br />abatement under Chapter 353 R.S.Mo. 1986, as amended, for a term <br />of ten years, said abatement being more particularly described in <br />the Redevelopment Proposal; and <br /> <br /> WHEREAS, the LCRA has reviewed the Redevelopment Proposal <br />and has found it to be in conformance with the Plan and with the <br />City of University City's need for coordinated, adjusted and <br />harmonious community development, has found that said Proposal <br />will promote the general welfare of the City in accordance with <br />the purposes of the Land Clearance for Redevelopment Authority <br />Law, and has recommended a grant of tax abatement to 6665 Urban <br />Redevelopment Corporation, and its successors-in-title who <br />continue to use the Property pursuant hereto; and <br /> <br /> WHEREAS, pursuant to notice duly published, and written <br />notice duly mailed to all political subdivisions affected by the <br />proposed tax abatement providing them with an estimate of the <br />effect said abatement will have on the ad valorem tax revenues of <br />each such political subdivision and of the time and place of the <br />public hearing, the City Council held a public hearing at 7:30 <br />p.m. on the llth day of January, 1993, and all parties were duly <br />heard and considered by the City Council of University City; and <br /> <br />STL - 158889 <br /> - 3 - <br /> <br /> <br />