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INTRODUCED BY COUNCILMF~MBER SCHUMAN BILL NO, 8205 ORDINANCE NO, 5990 AN ORDINANCE APPROVING THE RF.I~EVELO PM~.NT PROPOSAL FOR THE PROPERTY AT 63466370 DELMAR; FINDING SAID PROPOSAL TO BE IN COMPLIANCE WITH THE EASTGATE-WESTGATE URBAN RENEWAL PLAN AND CHAFFER 353 R.S. MO. 1986, AS AMENDED; FINDING THAT THE PROPERTY IS BLIGHTED AND THAT REI}EVi~.I~OPMENT OF SUCH PROPERTY IS NF_~ESSARY AND IN THE PUBLIC INTER~*~T UNDER CHAPTER 353 R.S. MO. 1986, AS AMENDED, AND IS IN ~ INTERI~.~T OF PUBLIC FIFALTH, SAFETY, MORALS AND GENERAL WELFARE OF THE PEOPLE OF ~ CITY OF UNIVERSITY CITY; AUTHORIZING A GRANT OF TAX ABATEM~NT TO TIVOLI BUlLflING REDEVI~-LOPMENT CORPORATION; AUTHORIZING ~ CITY MANAGER TO EXECUTE ANY AND ALL DOCUMENTS NECESSARY TO IMPLE1MENT THIS ORDINANCE; AND CONTAINING A SEVERABILITY CLAUSE. WHEREAS, the property at 6346-6370 Delmar Boulevard (the "Property") is located in University City, Missouri; and WHEREAS, the Property is located within the project area boundaries of the Eastgate-Westgate Urban Renewal Project Area, as described in the Eastgate-Westgate Urban Renewal Plan, MO-R-43 Urban Renewal Project, originally approved by the City Council of University City on June 1, 1964 by Ordinance No. 4043, and amended by the City Council on January 21, 1~94, by Ordinance No. 5786, recorded at Book 8936, Page 676 of the St. Louis County Records (hereinafter referred to as the "Redevelopment Plan"); WHEREAS, Tivoli Building, L.L.C. is the owner of the Property; and WHEREAS, Tivoli Building Redevelopmerit Corporation (the "Redevelopment Corporation") is a Missouri Urban Redevelopmerit Corporation operating and existing pursuant to the provisions of Chapter 353 R.S. MO. 1986, as amended; and WHEREAS, Tivoli Building Redevelopment Coq}oration, in conjunction with Tivoli Building, L.L.C., has submitted a redevelopment proposal dated as of October