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NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF <br />UNIVERSITY CITY as follows: <br /> <br /> Section 1. The City Council for the City of University City <br />hereby (a) finds and determines that the Property has by reason <br />of age, obsolescence, inadequate or outmoded design or physical <br />deterioration become an economic and social liability and that <br />such conditions are conducive to crime and an inability of the <br />Property to pay reasonable taxes and that such Property is <br />"blighted" as defined in S353.020 R.S. MO (1986), (b) finds that <br />the Redevelopment Plan for the Property is in compliance with the <br />provisions of Chapter 353 R.S. Mo. (1986), as amended, and said <br />redevelopment is necessary for the preservation of the health, <br />safety, morals and general welfare of the people of the City of <br />University of City, and (c) approves the Redevelopment Plan. <br /> <br /> Section 2. The partial tax relief pertaining to the <br />Property, as provided in the Redevelopment Plan, is hereby <br />granted to the Redevelopment Corporation, and its successors-in- <br />title, pursuant to the provisions of Chapter 353 R.S. Mo. (1986) <br />upon the transfer of said Property to the Redevelopment <br />Corporation. <br /> <br /> Section 3. The provisions of section 2 hereof are expressly <br /> conditioned upon the Property being used, operated and maintained <br /> in accordance with the Redevelopment Plan. <br /> <br /> Section 4. The provisions of Section 2 hereof are expressly <br /> further conditioned upon the acquisition of the Property by the <br /> Redevelopment Corporation within one year from the date of the <br /> <br />3 <br /> <br /> <br />