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INTRODUCED BY Mr. Wagner DATE: November 16, 2009 BILL NO. 9053 ORDINANCE NO. 6798 AN ORDINANCE DESIGNATING A PORTION OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS A REDEVELOPMENT AREA; APPROVING THE KINGSLAND WALK REDEVELOPMENT PLAN & PROJECT; MAKING FINDINGS RELATING THERETO; APPROVING THE RPA-1 REDEVELOPMENT PROJECT DESCRIBED IN THE REDEVELOPMENT PLAN AND ADOPTING TAX INCREMENT FINANCING WITH RESPECT RPA-1; AND AUTHORIZING CERTAIN ACTIONS BY CITY OFFICIALS. WHEREAS, the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the "Act"), authorizes municipalities to undertake redevelopment projects in blighted, conservation or economic development areas, as defined in the Act; and WHEREAS, the City Council of University City, Missouri, has duly created the Tax Increment Financing Commission ofUniversity City, Missouri (the "TIF Commission"); and WHEREAS, the Act authorizes the TIF Commission to hold hearings with respect to proposed redevelopment areas, plans and projects and to make recommendations thereon to thEity Council; and WHEREAS, the TIF Commission has reviewed a plan for redevelopment known as theKingsland Walk Redevelopment Plan & Project (the "Redevelopment Plan"), for an area consisting of approximately 1.83 acres bounded on the north by Vernon Street, on the west by Kingsland Avenue, on the south by Metcalfe Park and on the east by the western lot line of 6646 Vernon Avenue and including 6668 Vernon Avenue, 852-58 Kingsland Avenue and 844 Kingsland Avenue (the "Redevelopment Area"), as legally described in Attachment 2 of the Redevelopment Plan; and WHEREAS, the Redevelopment Plan divides the Redevelopment Area into two redevelopment project areas described as "RPA-1" and "RPA-2" and proposes separate redevelopment projects for each of RPA-1 and RPA-2 (respectively, the "RPA-1 Redevelopment Project" and the "RPA-2 Redevelopment Project" and collectively, the "Redevelopment Project'); and WHEREAS, the Redevelopment Plan, through the construction of the Redevelopment Project, envisions the comprehensive redevelopment of the Redevelopment Area for mixed use development, including residential and commercial uses; and WHEREAS, in response to a solicitation of proposals by the City, Metropolitan Development Kingsland Walk, LLC (the "Developer") submitted a proposal for redevelopment of the Redevelopment Area; and WHEREAS, after all proper notice was given, the TIF Commission held a public hearing in conformance with the Act on September 2, 2009, and received comments from all interested persons and taxing districts relative to (1) the Redevelopment Plan, (2) the designation of the Redevelopment Area, and -1-