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WHEREAS, Section 43 of the Act permits the creation of an allocation area within an
<br />economic development area to provide for the allocation and distribution, as provided by the Act,
<br />of the proceeds of taxes levied on property situated in the allocation area; and
<br />WHEREAS, the Commission in accordance with the Act, has previously established the
<br />Airport Economic Development Area, Allocation Area No. 1 ( "Allocation Area No. 1 "); and
<br />WHEREAS, the Commission, in accordance with the Act, expanded the boundaries of the
<br />Airport Economic Development Area, Allocation Area No. 1 to include Expansion Area No. 1 and
<br />Expansion Area No. 2 by the adoption of Resolution No. 965, adopted on November 9, 1990, and
<br />confirmed by Resolution No 971, adopted on January 2, 1991, and Expansion Area No. 3 by the
<br />adoption of Resolution No. 1058, adopted on May 22, 1992, and Expansion Area No. 4 by the
<br />adoption of Resolution No. 1349, adopted on July 7, 1995, and Expansion Area No. 5 by the
<br />adoption of Resolution No. 1545, adopted on November, 211997, and Expansion Areas No. 6,7 and
<br />8 by the adoption of Resolution No. 1667, adopted on February 19, 1999, and Expansion Areas No.
<br />9 and 10 by the adoption of Resolution 1796, adopted on October 20, 2000, and Expansion Area No.
<br />11 by the adoption of Resolution 1827, adopted on February 16, 2001, and Expansion Areas No. 12,
<br />13, 14 and 15 by the adoption of Resolution 1916, adopted on November 1, 2002 and Expansion
<br />Area No. 16 by the adoption of Resolution 1977, adopted on July 18, 2003 referred to the Allocation
<br />Area, as expanded, as Airport Economic Development Area Allocation Area No. 1, ( "Airport
<br />Economic Development Area Allocation Area No. 1 "); and
<br />WHEREAS, the Commission now desires to expand the boundaries ofthe Airport Economic
<br />Development Area, Allocation Area No. 1 to include the area in Expansion Area No. 17 and this
<br />expanded allocation area, comprising Allocation Area No. 1 and Expansion Area No. 17, is
<br />hereinafter referred to as the "Allocation Area "; and
<br />WHEREAS, the Development Plan includes a list of parcels of property within the Area to
<br />be acquired; and
<br />WHEREAS, it is necessary to modify the list of parcels of property within the Area to be
<br />acquired by adding parcels of property to the Property Acquisition List; and
<br />WHEREAS, Section 17.5 of the Act provides for the means for amending a resolution or
<br />plan in a way that enlarges the boundaries of an economic development area by not more than twenty
<br />percent (20 %) of the original economic development area or adds one (1) or more parcels to the
<br />Property Acquisition List; and
<br />WHEREAS, there was presented at this meeting of the Commission for its consideration and
<br />approval a proposed amendment to the Development Plan setting out the boundaries of the Area as
<br />expanded ( "Area "), adding parcels of property to the Property Acquisition List and further
<br />identifying the types of economic development projects and purposes to be undertaken in the Area
<br />(the Development Plan as amended is hereinafter referred to as the "Development Plan"), which
<br />Development Plan is entitled:
<br />"Airport Economic Development Area
<br />Development Plan"
<br />and consists of a typewritten document of 21 pages; and
<br />WHEREAS, the Development Plan has been revised and considered at the meeting; and
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