No. 3229 designating and declaring certain areas as economic development areas to amend the boundaries of the Airport Economic Development Area

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I 1 i e i 4 WHEREAS, the Commission has previously designated and declared an area in the City known as the West Washington-Chapin Development Area (the "West Washington- 1 Chapin Development Area") as a redevelopment area and as an allocation area for purposes of tax increment financing (the "West Washington-Chapin Development Area Allocation Area"); and WHEREAS, the Commission has adopted a declaratory resolution as of the date hereof determining in part to consolidate certain territory of the Central Development Area and corresponding Central Development Area Allocation Area into the Northeast Neighborhood Development Area and its Allocation Area; and WHEREAS, the Commission now desires to amend the boundaries of the Original Airport Area to (i) consolidate into the Original Airport Area a portion of the remaining Central Development Area, more particularly described in Exhibit A attached hereto and made a part hereof(collectively, the "CDA Territory"), (ii) add certain territory of the West Washington- Chapin Development Area into the Original Airport Area, more particularly described in Exhibit B attached hereto and made a part hereof(collectively, the "WWC Territory"), (iii) add certain territory, more particularly described in Exhibit C attached hereto and made a part hereof (collectively, the "Expansion Area"); and (iv) to remove certain territory from the Original Airport Area and the Original Airport Allocation Area, more particularly described in Exhibit D attached hereto and made a part hereof (collectively, the "Removed Territory") (the Original Airport Area with the CDA Territory, the WWC Territory and the Expansion Area added and without the Removed Territory being collectively referred to as the "Area") (a description of the I Area, after including the CDA Territory, the WWC Territory and the Expansion Area and i excluding the Removed Territory is set forth in Exhibit E attached hereto and made a part 1 hereof); and WHEREAS, the Commission desires to add certain parcels of property, as set forth in Exhibit F, to the Area acquisition list (the "Airport Acquisition List") as set forth in the Development Plan for said Area; and i WHEREAS, the Commission desires to transfer certain property previously included on the Central Development Area acquisition list (the "CDA Acquisition List"), as set forth in Exhibit F, to the Airport Acquisition List as set forth in the Development Plan for said Area; and k WHEREAS, the Commission desires to transfer certain property previously included on the West Washington-Chapin Development Area acquisition list (the "WWC Acquisition List"), as set forth in Exhibit F, to the Airport Acquisition List as set forth in the 1 Development Plan for said Area; and t WHEREAS, the Commission desires to amend the Original Plan by (i) adding the CDA Territory, the WWC Territory and the Expansion Area to the Original Airport Area; (ii)removing the Removed Territory from the Original Airport Area; and (iii) adding and transferring certain parcels of property to the Airport Acquisition list (the "Plan Amendment" a' and collectively with the Original Plan, the "Plan"); and c - 2 - US.54706909.04