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<br />TABLE OF CONTENTS <br /> <br />SECTION I – MODIFICATION TO THE DEVELOPMENT PROGRAM <br />FOR DEVELOPMENT DISTRICT NO. 1 <br /> <br />Foreword ........................................................................................................................................................................ 1 <br /> <br /> SECTION II – TAX INCREMENT FINANCING PLAN <br />FOR TAX INCREMENT FINANCING (REDEVELOPMENT) DISTRICT NO. 24 <br /> <br /> <br />A. Definitions .............................................................................................................................................................. 2 <br />B. Statutory Authorization .......................................................................................................................................... 2 <br />C. Statement of Need and Public Purpose ................................................................................................................. 2 <br />D. Statement of Objectives ........................................................................................................................................ 2 <br />E. Designation of Tax Increment Financing District as a Redevelopment District ...................................................... 2 <br />F. Duration of the TIF District ..................................................................................................................................... 4 <br />G. Property to be Included in the TIF District.............................................................................................................. 4 <br />H. Property to be Acquired in the TIF District ............................................................................................................. 4 <br />I. Specific Development Expected to Occur Within the TIF District .......................................................................... 4 <br />J. Findings and Need for Tax Increment Financing ................................................................................................... 5 <br />K. Estimated Public Costs .......................................................................................................................................... 7 <br />L. Estimated Sources of Revenue ............................................................................................................................. 7 <br />M. Estimated Amount of Bonded Indebtedness .......................................................................................................... 7 <br />N. Original Net Tax Capacity ...................................................................................................................................... 8 <br />O. Original Local Tax Rate ......................................................................................................................................... 8 <br />P. Projected Retained Captured Net Tax Capacity and Projected Tax Increment ..................................................... 9 <br />Q. Use of Tax Increment ............................................................................................................................................ 9 <br />R. Excess Tax Increment ......................................................................................................................................... 10 <br />S. Tax Increment Pooling and the Five Year Rule ................................................................................................... 10 <br />T. Limitation on Administrative Expenses ................................................................................................................ 11 <br />U. Limitation on Property Not Subject to Improvements - Four Year Rule ............................................................... 11 <br />V. Estimated Impact on Other Taxing Jurisdictions .................................................................................................. 12 <br />W. Prior Planned Improvements ............................................................................................................................... 12 <br />X. Development Agreements ................................................................................................................................... 12 <br />Y. Assessment Agreements ..................................................................................................................................... 13 <br />Z. Modifications of the Tax Increment Financing Plan ............................................................................................. 13 <br />AA. Administration of the Tax Increment Financing Plan............................................................................................ 13 <br />AB. Filing TIF Plan, Financial Reporting and Disclosure Requirements ..................................................................... 14 <br /> <br />Map of the Tax Increment Financing District ........................................................................................... EXHIBIT I <br />Assumptions Report ............................................................................................................................... EXHIBIT II <br />Projected Tax Increment Report ............................................................................................................ EXHIBIT III <br />Estimated Impact on Other Taxing Jurisdictions Report ........................................................................EXHIBIT IV <br />Market Value Analysis Report ................................................................................................................EXHIBIT V <br />Redevelopment TIF District Qualifications Report .................................................................................EXHIBIT VI