NOW, THEREFORE, BE IT RESOLVED by the Board of Aldermen of the City of St. Louis that the Board of Aldermen hereby recommends that the Port Authority participate in an industrial revenue bond transaction with the Developer to provide (1) 15 years of real property tax abatement in the following percentages: 90 percent for the first five years, 75 percent for the next five years and 50 percent for the last five years and (2) a sales tax exemption on construction materials for the Project.