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MUNICIPAL ACTION TAKEN <br /> (This Municipal Action is only for convenience of reference.) <br /> Based upon the statutory authority described in the Development Plan attached hereto, the public purpose <br /> findings by the Board of Commissioners and for the purpose of fulfilling the Authority's development <br /> objectives as set forth in the Development Plan, the Board of Commissioners has created,established and <br /> designated Housing Project No. 1 pursuant to and in accordance with the requirements of the HRA Act and <br /> the TIF Act as defined in the definitions of this document. <br /> Tax Increment Financing District No. 1-1,a housing tax increment financing district,was established at the <br /> same time that the Housing Project No. 1 was established. <br /> The following municipal action was taken in connection therewith: <br /> Housing Project No. 1: <br /> May 14, 2001: The Housing Project No. 1 was established by the Authority and the Development Plan <br /> adopted. <br /> Tax Increment Financing District No. 1-1: <br /> May 14,2001: The Tax Increment Financing District No. 1-1 was established by the Authority and the Tax <br /> Increment Financing Plan adopted. <br /> iii <br />