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E. After due consideration of the TIF Commission's recommendation and after making each of the findings required by section 99.810 of the TIF Act, including upon due consideration of the factors cited in the blight study prepared in conjunction with the Redevelopment Plan the finding that the TIF District constitutes a ~blighted area" as that term is defined in the TIF Act, the City Council by Ordinance No. ~'d~f, passed and adopted on December 16, 1996 designated the TIF District as a "redevelopment area" and approved the Redevelopment Plan and the redevelopment projects set forth therein, and by Ordinance No. ~0~ , passed and adopted on December ~ 1996 adopted tax increment allocation financing, all in accordance with the TIF Act. F. The City Council believes that the acceptance of the Redevelopment Proposal, the implementation of the Redevelopment Project, and the fulfillment generally of this Agreement are in the best interests of the City, and the health, safety, morals and welfare of its residents, and in accord with the public purposes specified in the Redevelopment Plan. G. Pursuant to provisions of Ordinance No. ~O$~ , passed and adopted on December 16, 1996, the City is authorized to enter into this Agreement, to issue the TIF Notes as evidence of the City's obligation to pay Eligible Redevelopment Project Costs incurred in furtherance of the Redevelopment Plan and the Redevelopment Project, and to pledge the TIF Revenues to the payment of the TIF Notes. H. To alleviate blighted conditions within the TIF District, to induce Developer to implement the Redevelopment Project, in consideration of Developer's agreement to undertake the Redevelopment Project and of the City's agreement to reimburse Developer for Eligible Redevelopment Project Costs incurred by Developer, all as set forth more fully in this Agreement, and in consideration of the mutual promises, agreements and stipulations made in this Agreement, Developer and the City agree as follows: ARTICLE I. DEFINITIONS 1.1 Definitions. As used in this Agreement, the following words and terms shall have the following meanings: "Acquisition Costs": All reasonable and necessary costs of acquiring any portion of the Property, including, but not limited to: cost of land and improvements; brokerage commissions; costs of title commitments, reports or policies; surveys; soil and hazardous waste and other site and property related reports; appraisals; professional fees of any kind or nature, including -- 2 -- STL-535046