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<br />MODIFIED DEVELOPMENT PROGRAM FOR <br />DEVELOPMENT DISTRICT NO. 1 <br /> <br /> <br />Municipal Action Taken <br /> <br />Based upon the statutory authority described in the Modified Development Program <br />attached hereto, the public purpose findings by the City Council and for the purpose of <br />fulfilling the City's development objectives as set forth in the Modified Development <br />Program, the City Council has created, established and designated Development District <br />No. 1 pursuant to and in accordance with the requirements of Minnesota Statutes, Section <br />469.126. <br /> <br />The following municipal action was taken in connection therewith: <br /> <br />Development District No. 1 <br /> <br />December 22, 1981: The Development Program and Tax Increment Financing Plans were <br />adopted and Development District No. 1 and Tax Increment Financing Districts No. 1, No. 2 and <br />No. 3 were created. · <br /> <br />November 23, 1982: The Development Program, including its existing Tax Increment Financing <br />Plans, were modified to reflect increased project costs, increased bonded indebtedness, creation <br />of Tax Increment Financing District No. 4· and the adoption of a Tax Increment Financing Plan. <br /> <br />April 24, 1984: The Development Program, including its existing Tax Increment Financing <br />Plans, were modified to reflect increased geographic area. <br /> <br />July 24, 1984: The Development Program, including its existing Tax Increment Financing Plans, <br />were modified to reflect increased geographic area, increased project costs, increased bonded <br />indebtedness, creation of Tax Increment Financing District No. 5 and the adoption of a Tax <br />Increment Financing Plan. <br /> <br />January 8, 1985: A public hearing was held regarding the modification of the Development <br />Program to create Tax Increment Financing District No. 6; approval of the modification is <br />pending. ' <br /> <br />Apri1 26, 1985: The Development Program, including its existing Tax Increment Financing <br />Plans, were modified to reflect increased geographic area, increased project costs, increased <br />bonded indebtedness, creation of Tax Increment Financing District No. 6 and the adoption of a <br />Tax Increment Financing Plan. <br /> <br />May 14, 1985: The Development Program, including its existing Tax Increment Financing Plans, <br />were modified to reflect increased geographic area, increased project costs, increased bonded <br />indebtedness, creation of Tax Increment Financing District No. 7 and the adoption of a Tax <br />Increment Financing Plan. <br /> <br />October 22, 1985: The Development Program, including its existing Tax Increment Financing <br />Plans, were modified to reflect increased geographic area, increased project costs, increased <br />bonded indebtedness, creation of Tax Increment Financing District No. 8 and the adoption of a <br />Tax Increment Financing Plan.