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TABLE OF CONTENTS <br />SECTION I — MODIFICATION TO THE DEVELOPMENT PROGRAM <br />FOR DEVELOPMENT DISTRICT NO. 1 <br />Foreword............................................................................................................................... 1 <br />SECTION II — TAX INCREMENT FINANCING PLAN <br />FOR TAX INCREMENT FINANCING (HOUSING) DISTRICT NO. 25 <br />A. <br />Definitions.................................................................................................................... <br />2 <br />B. <br />Statutory Authorization................................................................................................. <br />2 <br />C. <br />Statement of Need and Public Purpose....................................................................... <br />2 <br />D. <br />Statement of Objectives............................................................................................... <br />2 <br />E. <br />Designation of Tax Increment Financing District as a Housing District ........................ <br />2 <br />F. <br />Duration of the TIF District........................................................................................... <br />3 <br />G. <br />Property to be Included in the TIF District.................................................................... <br />3 <br />H. <br />Property to be Acquired in the TIF District................................................................... <br />4 <br />I. <br />Specific Development Expected to Occur Within the TIF District ................................. <br />4 <br />J. <br />Findings and Need for Tax Increment Financing......................................................... <br />5 <br />K. <br />Estimated Public Costs................................................................................................ <br />5 <br />L. <br />Estimated Sources of Revenue.................................................................................... <br />6 <br />M. <br />Estimated Amount of Bonded Indebtedness................................................................ <br />6 <br />N. <br />Original Net Tax Capacity............................................................................................ <br />6 <br />0. <br />Original Tax Capacity Rate.......................................................................................... <br />7 <br />P. <br />Projected Retained Captured Net Tax Capacity and Projected Tax Increment ........... <br />7 <br />Q. <br />Use of Tax Increment................................................................................................... <br />8 <br />R. <br />Excess Tax Increment.................................................................................................. <br />9 <br />S. <br />Tax Increment Pooling and the Five Year Rule............................................................ <br />9 <br />T. <br />Limitation on Administrative Expenses......................................................................... <br />9 <br />U. <br />Limitation on Property Not Subject to Improvements - Four Year Rule ........................ <br />9 <br />V. <br />Estimated Impact on Other Taxing Jurisdictions.......................................................... <br />10 <br />W. <br />Prior Planned Improvements........................................................................................ <br />10 <br />X. <br />Development Agreements............................................................................................ <br />11 <br />Y. <br />Assessment Agreements............................................................................................. <br />11 <br />Z. <br />Modifications of the Tax Increment Financing Plan ...................................................... <br />11 <br />AA. <br />Administration of the Tax Increment Financing Plan .................................................... <br />11 <br />AB. <br />Financial Reporting and Disclosure Requirements...................................................... <br />12 <br />Map of the Tax Increment Financing District......................................................................... EXHIBIT I <br />Map of the Development District........................................................................................... EXHIBIT I <br />AssumptionsReport............................................................................................................. EXHIBIT II <br />Projected Tax Increment Report........................................................................................... EXHIBIT III <br />Estimated Impact on Other Taxing Jurisdictions Report ....................................................... EXHIBIT IV <br />