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Redevelopment Corporation, and its successors-in-title who continue to use the Property <br />pursuant to the Redevelopment Proposal and this Ordinance; <br /> <br /> WHEREAS, pursuant to notice duly published, and written notice duly mailed <br />to all political subdivisions affected by the pwposed tax abatement pwviding them with an <br />estimate of the effect said abatement will have on the ad valorera tax revenues of each such <br />political subdivision and of the time and place of the public hearing, the City Council held a <br />public hearing at 7:30 p.m. on the 21st day of November, 1994, and all parties were duly <br />heard and considered by the City Council of University City; and <br /> <br /> WHEREAS, the Redevelopmerit Proposal is found to be in full compliance <br />with Chapter 99.300 et. seq. and Chapter 353 R.S. Mo. (1986), as mended, and is in the <br />public interest and serves the public purpose; and <br /> <br /> NOW, TI-IF. REFORE, BE 1T ORDAINED BY THE COUNCIL OF THE <br />CITY OF UNIVERSITY CITY as follows: <br /> <br /> Section 1. The City Council for the City of University City hereby (a) finds <br />and determines that the Property has by reason of age, obsolescence, inadequate or outmoded <br />design or physical deterioration become an economic and social liability and that such <br />conditions are conducive to crime and an inability of the Property to pay reasonable taxes <br />and that such Property is 'blighted' as defined in §353.020 R.S. MO. (1986), (b) finds that <br />the Redevelopmerit Proposal for the Property is in compliance with the provisions of the <br />Redevelopment Plan, Chapter 353 R.S. Mo. (1986), as mended, and Chapter 99.300 et. <br />seq., as amended, and said redevelopment is necessary for the preservation of health, safety, <br /> <br /> <br />