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Expenditure Increase <br /> Authorized in New (Decrease) from <br /> Master Expenditure Master <br /> Property/Activity Modification Amount Modification <br /> Old Clark Station/Redevelopment $ 30,000 $ 40,000 $ 10;000 <br /> Bowling Alley Redevelopment 60,000 40,000 (20,000) <br /> St. Anthony Shopping Center Area 35,000 60,000 25,000 <br /> Vacant Lots on Silver Lake Road 60,000 75,000 15,000 <br /> Apache Plaza Redevelopment 300,000 820,000 520,000 <br /> Community Center 3,000,000 3,100,000 100,000 <br /> Lowrey Grove Development 500,000 -0- (500,000) <br /> Autumn Woods Senior Project <br /> (KFC and approximately 10 homes) 500,000 1,300,000 800,000 <br /> Net Increase in Expenditures- $950,000 <br /> The additional expenditures authorized by the 1996 Amendment to the <br /> Master Modification total $1,533,000. <br /> The use of tax increment derived from the Districts to pay the costs <br /> described above is hereby authorized. Such costs may be paid directly from tax <br /> increment derived from the Districts, or may be paid indirectly from tax increment <br /> derived from the Districts, by the payment of debt service on a loan or loans made by <br /> the City to the HRA or by the HRA to finance such cost. Any such loan made by the <br /> City or HRA will be repaid, with interest, from the tax increment derived from the <br /> Districts. Other than the loan or loans from the City or the HRA, it is not expected <br /> that any obligations will be issued by the City or HRA to finance such costs. <br /> IV. FISCAL AND ECONOMIC IMPLICATIONS OF ADDITIONAL <br /> EXPENDITURES <br /> It is estimated fiscal and economic implications of the additional <br /> expenditures of tax increment revenue derived from the Districts authorized by this <br /> Master Modification will be as follows: <br /> The local governmental units other than the City which are authorized <br /> by law to levy ad valorem property taxes in the area where the Districts are located <br /> are Independent School District No. 282, Hennepin County, Ramsey County, the <br /> HRA, and various metropolitan area authorities, including the Metropolitan <br /> Council, the Metropolitan Transit Commission, the Metropolitan Airports . <br /> Commission and the Metropolitan Mosquito Control District (the local government <br /> units). <br /> • <br /> -3- <br />