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• approved by the Commissioners of the HRA and the City pursuant to Minnesota <br /> Statutes, Chapter 469.029, subdivision 6, and Minnesota Statutes, Section 469.175, <br /> subdivision 4. <br /> II. STATEMENT OF NEED AND OBJECTIVES <br /> The combining of the areas subject to the Redevelopment Plans and <br /> the inclusion of the Additional Property in the Redevelopment Plans will aid in the <br /> redevelopment of the Additional Property in a manner beneficial to the residents of <br /> the City and consistent with the objectives of the HRA as stated in Redevelopment <br /> Plans and will aid in the construction of public facilities which will serve all <br /> residents of the City, all of which will meet the needs specified in Redevelopment <br /> Plans. <br /> III. ADDITIONAL EXPENDITURE OF TAX INCREMENT <br /> Additional expenditures of tax increment authorized by this Master <br /> Modification of the Redevelopment Plans and Tax Increment Financing Plans <br /> include costs associated with the construction of the Community Center and-costs <br /> related to the acquisition and rehabilitation and other public redevelopment costs <br /> associated with redevelopment activities related to the areas subject to the <br /> Redevelopment Plans. At this time the HRA has not specifically identified any <br /> property to be acquired by the HRA but the HRA reserves the right to acquire any <br /> property if it determines that such acquisition is desirable in connection with the <br /> redevelopment of such property. In addition, in connection with any <br /> redevelopment of the property the HRA may become a limited partner in the owner <br /> of the property if it deems it desirable. <br /> The additional expenditures of tax increment authorized hereby with <br /> respect to the development or redevelopment of certain property subject to the <br /> Redevelopment Plans are as follows: <br /> Expenditure <br /> Property/Activity Authorized <br /> Evergreen .Townhomes Soil Correction $ 150,000 <br /> Autumn Woods Senior Project 500,000 <br /> Community Center 3,000,000 <br /> American Monarch Building 125,000 <br /> Apache Plaza Redevelopment 300,000 <br /> Old Clark Station Redevelopment 30,000 <br /> Makowske Property Redevelopment 350,000 <br /> Lowry Grove Redevelopment 500,000 <br /> Bowling Alley Redevelopment 60,000 <br /> St. Anthony Shopping Center area 35,000 <br /> Vacant lots on Silver Lake Road 60.000 <br /> $5,110,000 <br /> -2- <br /> i <br />