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()- <br />TAXINCREMENTFINANCINGHOUSINGDISTRICTNO.18 <br />– <br />ARTICLEIVADMINISTERINGTHETIFDISTRICT <br />SECTION4.01FILINGANDCERTIFICATION <br />1.UponadoptionoftheTIFPlanbytheCity,theCityshallsubmitacopyoftheTIFPlantothe <br />2.TheCityshallrequestthattheCountyAuditorcertifytheoriginalnettaxcapacityandnet <br />taxcapacityrateoftheTIFDistrict.ToassisttheCountyAuditorinthisprocess,theCity <br />shallsubmitcopiesoftheTIFPlan,theresolutionestablishingtheTIFDistrictandadopting <br />theTIFPlan,andalistingofanypriorplannedimprovements. <br />SECTION4.02MODIFICATIONSOFTHETAXINCREMENTFINANCINGPLAN <br />TheCityreservestherighttomodifytheTIFDistrictandtheTIFPlan.UndertheTIFAct, <br />thefollowingactionscanonlybeapprovedaftersatisfyingallthenecessaryrequirementsfor <br /> ReductionorenlargementinthegeographicareaoftheDevelopmentDistrictortheTIF <br />District. <br /> Increaseintheamountofbondedindebtednesstobeincurred. <br /> Increaseintheamountofcapitalizedinterest. <br /> IncreaseinthatportionofthecapturednettaxcapacitytoberetainedbytheCity. <br />  <br /> DesignationofadditionalpropertytobeacquiredbytheCity. <br />and(2)thecurrentnettaxcapacityoftheparcelseliminatedequalsorexceedsthenettax <br />theTIFDistrict’soriginalnettaxcapacitywillbereducedbynomorethanthecurrentnettax <br />capacityoftheparcelseliminated. <br />geographicareaoftheTIFDistrict.ThegeographicareaoftheTIFDistrictmaybereducedbut <br />- <br />SECTION4.03FOURYEARKNOCKDOWNRULE <br />SincetheTIFDistrictconsistsofasingleparcel,developmentoftheprojectasplannedprevents <br />anylossofvaluefromtheFour-YearKnockdownRule.TheFour-YearKnockdownRule <br />hascommencedonaparcellocatedwithintheTIFDistrict,thenthatparcelshallbeexcluded <br />improvementsofastreetarelimitedtoconstructionoropeningofanewstreet,relocationofa <br />street,orsubstantialreconstructionorrebuildingofanexistingstreet.TheCitymustsubmit <br />requiredactivityhastakenplaceforeachparcelintheTIFDistrict. <br />DRAFTFORPUBLICHEARINGOCTOBER9,201912 <br />23 <br /> <br />