No. 2225 amended and restated authorizing the issuance of COSB redevelopment district adjustable rate demand tax increment revenue bonds (series 2006 Erskine Commons Project) and other related matters

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• Street onto Ireland Road (the "Improvements "), in order to accommodate the construction and operation of the Project in the Area; and WHEREAS, the Commission did, on July 27, 2004, adopt a resolution amending the Plan to allow for the Improvements and creating a separate allocation area within the Area (the "Allocation Area ") for the purpose of accounting for the Project Tax Increment Revenues (as defined herein) of the Allocation Area separately for such purposes; and WHEREAS, with regard to taxes levied on real property in the Allocation Area, property tax proceeds in excess of those attributable to (i) the proceeds of taxes attributable to property that is assessed as residential property under the rules of the Department of Local Government Finance for those areas added to the Allocation Area after June 30, 1995, and (ii) the lesser of: (a) The assessed value of the property for the assessment date with respect to which the allocation and distribution is made; or (b) The base assessed value as defined in the Act; shall be allocated to the Redevelopment District and, when collected, paid into the Allocation Fund, and may be used by the Commission only to do one or more of the following: • (a) pay the principal of and interest on any obligations payable solely from allocated tax proceeds which are incurred by the Redevelopment District for the purpose of financing or refinancing the redevelopment of the Allocation Area; (b) establish, augment, or restore the debt service reserve for bonds payable solely or in part from allocated tax proceeds in the Allocation Area; (c) pay the principal of and interest on bonds payable from allocated tax proceeds in the Allocation Area and from the special tax levied under Section 27 of the Act; (d) pay the principal of and interest on bonds issued by the City to pay for local public improvements in or serving the Allocation Area; (e) pay premiums on the redemption before maturity of bonds payable solely or in part from allocated tax proceeds in the Allocation Area; (f) make payments on leases payable from allocated tax proceeds in the Allocation Area under Section 25.2 of the Act; (g) reimburse the City for expenditures made by it for local public improvements (which include buildings, parking facilities, and other items . described in Section 25.1(a) of the Act) in or serving the Allocation Area; BDDBOI 33020845 - 2 -