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• Commissioners of the HRA and the City pursuant to Minnesota Statutes, Chapter <br /> 469.029, subdivision 6, and Minnesota Statutes, Section 469.175, subdivision 4. <br /> II. STATEMENT OF NEED AND OBJECTIVES <br /> The inclusion of the Additional Property in the Redevelopment Plans <br /> will aid in the redevelopment of the Additional Property in a manner beneficial to <br /> the residents of the City and consistent with the objectives of the HRA as stated in <br /> Redevelopment Plans and 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 1996 <br /> Amendment to the Master Modification of the Redevelopment Plans and Tax <br /> Increment Financing Plans include costs associated with acquisition and <br /> rehabilitation and other public redevelopment costs associated with redevelopment <br /> activities related to the areas subject to the Redevelopment Plans. At this time the <br /> HRA has not specifically identified any property to be acquired by the HRA but the <br /> HRA reserves the right to acquire any property if it determines that such acquisition <br /> is desirable in connection with the redevelopment of such property. In addition, in <br /> connection with any redevelopment of the property the HRA may become a limited <br /> • partner in the owner of the property if it deems it desirable. <br /> The additional new expenditures of tax increment authorized hereby <br /> with 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 /> Redevelopment of vacant property <br /> between Industrial Custom Products <br /> and Amoco Station on 37th Avenue North $ 233,000 <br /> Bridge work along Silver Lake Road <br /> between 37th Avenue NE and Silver <br /> Lane 100,000 <br /> Streetscape within City 250,000 <br /> $ 583,000 <br /> In addition, the amount of additional expenditures for certain items set <br /> forth in Article III of the Master Modification are amended as follows: <br /> • -2- <br />