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of the St. Louis County Records, (hereinafter referred to as the <br />"Urban Renewal Plan"); and <br /> <br /> WHEREAS, the Authority has advertised for proposals to <br />develop the Property in a paper of general circulation in its <br />area of operation prior to the consideration of any redevelopment <br />contract proposal; and <br /> <br /> WHEREAS, the Authority, at its meeting on October 19, 1994, <br />reviewed and approved the Redevelopment Proposal dated October <br />19, 1994 submitted by the Redeveloper for the redevelopment and <br />improvement of the Property (hereinafter the "Redevelopment <br />Proposal"); and <br /> <br /> WHEREAS, the Authority, at its meeting on October 19, 1994, <br />reviewed and approved the Redeveloper's request for a loan in the <br />amount of $75,000 to carry out certain public improvements to the <br />Property; and <br /> <br /> WHEREAS, the Authority, at its meeting on October 19, 1994, <br />reviewed and approved the Redeveloper's request for tax abatement <br />on the Property as more particularly described in the <br />Redevelopment Proposal; and <br /> <br /> WHEREAS, the Authority recommended to the City Council, and, <br />following written notice to all affected political subdivisions <br />in accordance with Section 353,110 R.S.Mo. 1986, the City Council <br />did approve the Redevelopment Proposal and the grant of tax <br />abatement requested by the Redeveloper; and <br /> <br />WHEREAS, the Authority has agreed to lend funds to <br />Redeveloper in consideration of the adherence by Redeveloper and <br /> <br />STL-295439 <br /> - 2 - <br /> <br /> <br />