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After the establishment and during the continuation of the Districts, as <br /> a result of the Redevelopment Projects and the implementation of the <br /> Redevelopment Plans and the improvements in the Districts there has been an <br /> increase in the tax capacity of the taxable property in the Districts. If the tax <br /> increments derived from the Districts are not applied to pay the additional <br /> expenditures described herein, certain of the Districts would terminate earlier than <br /> would otherwise be the case assuming ad valorem taxes are paid with respect to the <br /> taxable property in the Districts in the anticipated amounts. Upon such termination <br /> such increased tax capacity would be available for taxation by the local governmental <br /> units. However, as a result of the Master Modification and this 1996 Amendment <br /> thereto such increase in tax capacity will not be available for taxation by the local <br /> governmental units until a later date with respect to certain of the Districts. <br /> Offsetting such later termination of the Districts will be an increase in <br /> tax capacity to certain property which is not located in a tax increment financing <br /> district as a result of redevelopment of such property. Such increase in tax capacity <br /> will be available for taxation by the City and the local governmental units. <br /> V. DETERMINATIONS IN ORIGINAL FINANCING PLAN <br /> The determinations made in the Financing Plans with respect to <br /> • designation of the Kenzie Terrace Tax Increment District as a redevelopment district <br /> and the designation of the Chandler Place Tax Increment District as a housing <br /> district, the impact of the establishment of the Districts and the implementation of <br /> the Redevelopment Plans and undertaking of the Redevelopment Projects and the <br /> captured tax capacity of the Districts upon the redevelopment thereof are not <br /> affected by this Master Modification and such determinations remain in full force <br /> and effect following the adoption of this Master Modification. <br /> VI. ADDITIONAL AMENDMENTS TO PLAN <br /> The City and the HRA reserve the right to further alter the Master <br /> Modification and to further amend or modify the Redevelopment Plans and the <br /> Financing Plans by their joint action, subject to the provisions of state law regulating <br /> such action. <br /> VII. ORIGINAL PLAN <br /> The Redevelopment Plans and the Financing Plans, except to the <br /> extent provisions thereof are explicitly amended or supplemented by the Master <br /> Modification and this 1996 Amendment thereto shall remain in and be in full force <br /> and effect. <br /> -4- <br />