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Table of Contents (for reference purposes only) Section 2 - Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 26: Brighton Corporate Business Park III ..... 2-1 Subsection 2-1. Foreword............................................... 2-1 Subsection 2-2. Statutory Authority........................................ 2-1 Subsection 2-3. Statement of Objectives ................................... 2-1 Subsection 2-4. Development Program Overview ............................ 2-1 Subsection 2-5. Description of Property in the District and Property To Be Acquired . 2-2 Subsection 2-6. Classification of the District................................. 2-2 Subsection 2-7. Duration and First Year of Tax Increment of the District........... 2-3 Subsection 2-8. Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity Value/Increment and Notification of Prior Planned Improvements ................ 2-4 Subsection 2-9. Sources of Revenue/Bonds to be Issued ...................... 2-4 Subsection 2-10. Uses of Funds ........................................... 2-5 Subsection 2-11. Fiscal Disparities Election.................................. 2-6 Subsection 2-12. Business Subsidies....................................... 2-6 Subsection 2-13. Estimated Impact on Other Taxing Jurisdictions ................. 2-7 Subsection 2-14. Definition of Tax Increment Revenues ........................ 2-8 Subsection 2-15. Modifications to the District................................. 2-8 Subsection 2-16. Administrative Expenses ................................... 2-9 Subsection 2-17. Limitation of Increment .................................... 2-9 Subsection 2-18. Use of Tax Increment .................................... 2-10 Subsection 2-19. Excess Increments ...................................... 2-11 Subsection 2-20. Requirements for Agreements with the Developer .............. 2-11 Subsection 2-21. Assessment Agreements ................................. 2-11 Subsection 2-22. Administration of the District ............................... 2-11 Subsection 2-23. Annual Disclosure Requirements ........................... 2-11 Subsection 2-24. Reasonable Expectations ................................. 2-12 Subsection 2-25. Other Limitations on the Use of Tax Increment . ................ 2-12 Subsection 2-26. Summary.............................................. 2-13 Appendix A Original TIF Plan and Modifications ......................................... A-1 Appendix B Map of Development District No. 1 and the District ............................. B-1 Appendix C Description of Property to be Included in the District ............................ C-1 Appendix D Special Legislation ...................................................... D-1 Appendix E Minnesota Business Assistance Form ....................................... E-1 Appendix F Redevelopment Qualifications for the District .................................. F-1