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morals and general welfare of the people of the City of University City, and (c) approves <br />the Redevelopment Proposal. <br /> <br /> S~on2. The partial tax relief pertaining to the Property, as provided in the <br />Redevelopment Proposal, is hereby granted to the Redevelopmerit Corporation, and its <br />successors-in-title, pursuant to the provisions of Chapter 353 R.S. Mo. (1986) upon the <br />transfer of said Property to the Redevelopment Corporation. <br /> <br /> Section 3. The provisions of Section 2 hereof are expressly conditioned upon <br />the Property being used, operated and maintained in accordance with the Redevelopmerit <br />Proposal and the Redevelopment Plan. <br /> <br /> Section 4. The provisions of Section 2 hereof are expressly further <br />conditioned upon the acquisition of the Property by the Redevelopment Corporation within <br />one year from the date of the passage of this Ordinance. <br /> <br /> Section 5. In no event shall the partial tax relief conferred herein exceed 10 <br />years from the date of the first year of such tax relief with respect to the Property. <br /> <br /> Section 6. A certain Parcel Development Agreement by and between the Land <br />Clearance for Redevelopmerit Authority of University City ("LCRA ') and Tivoli Building <br />Redevelopmerit Corporation, attached hereto as Exhibit B and incorporated herein by <br />reference (the "Parcel Development Agreement") having been duly reviewed and considered <br />is hereby approved and LCRA is authorized and directed to execute the Redevelopmerit <br />Agreement on behalf of the City. LCRA is further authorized to make such ministerial <br />alterations, changes or additions in the Parcel Development Agreement as LCRA may deem <br />necessary to carry out the intent of this Ordinance. In the event of any conflicts or <br /> <br />SL02 243550 4 <br /> <br /> <br />