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4. PRESENT LAND USE OF SURROUNDING PROPERTIES The properties surrounding the Area are primarily used for multifamily and high density residential purposes. S. CURRENT ZONING The Area is zoned "HRO" High Density Residential/Office District pursuant to Chapter 34 of the University City Municipal Code, as amended l"Zoning Code"), which is, hereby, incorporated into this Plan by reference. 6. FINDING OF BLIGHT All property within the Area is unoccupied and exhibits evidence of the factors which define a "Blighted Area" under Section 99.300 RSMo, et seq. lthe "Statute"l as: an area which, by reason of the predominance of defective or inadequate street layout, insanitary or unsafe conditions, deterioration of site improvements, improper subdivision or obsolete platting, or the existence of conditions which endanger life or property by fire and other causes, or any combination of such factors, retards the provision of housing accommodations or constitutes an economic or social liability or a menace to the public health, safety, morals, or welfare in its present condition and use. Section 99.320 131 RSMo. The conditions within the Area as described in the Blighting Study, Exhibit D hereto, meet the criteria set forth above. 7. OWNERSHIP The majority of the Area and Incomplete Facility are presently owned by Mansions on the Plaza, L.P. (Exhibit A, Parcel 11; a small 2893 s.f. parcel in the extreme westernmost portion of the Area is owned by Hampton Park Inc. (Exhibit A, Parcel 2). B. PROPOSED DEVELOPMENT AND REGULATIONS 1. DEVELOPMENT OBJECTIVES The primary objective of this Plan is to facilitate the completion of the Incomplete Facility and to construct high quality, high density residential units above the Incomplete Facility, together 2 1525371