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Introduction The purpose of this modification is to provide budgetary authority to utilize increased tax increment and to modify the budget to reflect actual project activity and to bring it into compliance with the State Auditor budget requirements. The boundaries of Tax Increment District No. 3 (Apache Plaza Redevelopment I — 9G) are not being changed. (AS MODIFIED ONAUGUST 22, 2006) Duration of the District Pursuant to M.S., Section 469.175, Subd. 1, and Section 469.176, Subd. 1, the duration of the District must be indicated within the TIF Plan. Pursuant to M.S., Section 469..176, Subd. 1b, the duration of the District will be 25 years after receipt of the first increment by the HRA, or City (a total of 26 years). The date of receipt by the City of the first tax increment was 1998. Thus, it is estimated that the District, including any modifications of the TIF Plan for subsequent phases or other changes, would terminate after 2023, or when the TIF Plan is satisfied. The HRA or City reserves the right to decertify the District prior to the legally required date. Impact of Tax Increment Financing on Other Jurisdictions The local government units other than the City which are authorized by law to levy ad valorem property taxes and in which the District is located, are Independent School District No. 282, Ramsey County, the HRA and various metropolitan area authorities, including the Metropolitan Council, the Metropolitan Transit Commission, the Metropolitan Airports Commission and the Metropolitan Mosquito Control District (the local government units). The taxing jurisdictions encompassing the District will continue to receive taxes as if the Original tax Capacity of the District were unchanged. This precludes the jurisdictions from benefiting from a portion of the increase in Tax Capacity which results from the improvements to Parcels in the District or other development set forth in Exhibit F is an estimate of the impact of the Creation of the District in the taxing jurisdiction of the taxable property in -the District._ Ramsey County City of St. Anthony* ISD No. 282* (ASMODIFI'.ED ONAUGUST 22, 2006) IMPACT ON TAX BASE Estimated 2005/2006 Tax Capacity 420,951,592 5,414,108 5,414,108 Estimated Captured Tax Capacity (CTC) Upon Completion ** Includes values for Hennepin County and Ramsey County * Includes an 8% inflation factor for 200'7-2023 883,140 883,140 883,140 Housing and Redevelopment Authority of St. Anthony Modification to the TIF flan for TIF District No. 3 21 Percent of CTC to Entity Total 0.2098% 16.3118% 16.3118% 1-