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1994, attached hereto as Exhibit A and incorporated herein by this reference (the "Redevelopment Proposal") for the rehabilitation of the Property; and WHEREAS, Tivoli Building, L.L.C. is proposing to transfer rifle to the Property to the Land Clearance for Redevelopmerit Authority of University City, subject to and in compliance with the Redevelopment Proposal and the Redevelopmerit Plan; and WHF. REAS, the Land Clearance for Redevelopmerit Authority of University City is proposing to Wansfer ti~e to the Property to the Redevelopment Corporation, subject to and in compliance with the Redevelopment Proposal and the Redevelopmerit Plan; and WHEREAS, in connection with the Redevelopment Proposal, the Redevelopment Corporation has requested a grant of tax abatement under Chapter 353 R.S. MO. 1986, as amended, for a ten of ten years, said abatement being more particularly described in the Redevelopment Proposal; and WHEREAS, the City Manager has reviewed the Redevelopment Proposal and has found it to be in conformance with the City of University City's need for coordinated, adjusted and harmonious community development, has found that the Property has by reason of age, obsolescence, inadequate or outmoded design or physical deterioration become an economic and social liability and that such conditions are conducive to crime and an inability of the Property to pay reasonable taxes and that such Property is 'blighted' as defined in Chapter 353 R.S. MO. (1986), as amended, has found that said Redevelopmerit Proposal will promote the general welfare of the City in accordance with the purposes of Chapter 353 R.S. MO. (1986), as amended, and has recommended a grant of tax abatement to the